Buying a classic car is an investment for many drivers and car enthusiasts. While most vehicles would be considered poor investments due to depreciation, the opposite is true of classic cars. Here at our classic car dealership in Franklin TN, our dealers know a thing or two about investing in classic cars. These are the top reasons to invest in a classic car.
What Makes a Classic Car
Before discussing why you should invest in a classic car, it’s essential to understand what exactly separates a pre-owned from a classic. For the most part, it comes down to age. Most people consider classic cars to be historically significant vehicles that are at least 15 to 25 years old. They possess a quality that makes them interesting to collect, such as unusual designs or limited production runs. The rarer a car, the more valuable it is likely to be.
Starting Out is Easy
Classic car investing is not limited to individuals with a high net worth. For instance, we have an inventory of classic cars in the $20,000 to $30,000 range. Our dealers are happy to explain what makes our inventory unique and why they are great investments.
Classic Cars Can Appreciate in Value
Value appreciation is a must for any good investment. Luckily, many classic cars gain value over time due to rarity, performance, or other special attributes. The data bears this out. According to the Historic Automobile Group International, vintage collectible cars from certain automakers increased in value by 33.78 percent in 2019, 6.19 percent in 2020 (unaffected by the pandemic), and 2.73 percent in 2021.
Classic cars make for excellent investments. Begin your investment journey today by visiting Alexander Automotive and checking out our selection of vintage classic cars.
