Vintage and classic styles are soaring in consumer popularity due to the nostalgia surrounding most of the retro designs. Apart from retro fashion, classic cars are also gaining more traction, with many young people expressing interest in owning older car models.
Unfortunately, finding a classic car can be rather challenging due to the rising value of these vehicles and the reluctance of motor trade insurance providers to insure retro models.
Besides, classic cars have an unpredictable future, especially with the 2030 ban on petrol and diesel vehicles. If you are a fan of old car models, you might be lucky enough to find one of these retro vehicles in your local motor trade showroom.
Choosing the Best Classic Car Model
When you are in the market for a car that brings some old memories to life, you can pick any model you want. However, if you are buying for resale purposes, you need to analyse the best models to invest your money in.
For instance, vintage Mustangs and Fords are still highly prized in the USA, while old Escorts are holding their value in the UK.
Their spare parts are readily available, and you will have a large pool of buyers when reselling. Exotic classics like Maserati’s command a great market price, but they may not have a broad appeal, and reselling them can be problematic.
Popular Classic Car Models
Renault 5 GT Turbo – Once a popular vehicle, and the addition of modern technology is increasing its value. For instance, its price improved by 39% within a year since the revelation of the reborn Renault 5. Apart from the increasing price tag, the reinvention enhanced its power and functionality.
Aston Martin DB7 – If you fancy a classic Aston Martin, you could now get this model for a reasonable price with the recent price drop. While it does not seem like a good idea to buy for reselling, Aston Martin’s price has been steady in the past years. That means its value may rise when it attracts a large pool of buyers. Besides, the vehicle provides the perfect blend of functionality and value.
Ferrari 328 – This was the last analogue Ferrari before the carmaker introduced computer modelling, anti-lock brakes and stability braking. It has a powerful engine compared to other modern hatchbacks. While its value has been declining since 2016, it recently stabilised, meaning its price may rise soon.
Mk1 Ford Focus RS – This was a popular vehicle in the past, a punchy 2-litre engine developing over 200bhp and was a machine to be reckoned with, even if it didn’t pack a four-wheel-drive punch. While it has no special features that would pique the interest of collectors, its engineering quality and power make it a fantastic vehicle and may attract a large pool of buyers.
Jaguar Mark 11 – A popular British classic vehicle with a luxurious interior that brings out British history. Apart from its powerful engine and leather interior, its price remained steady over the years. However, its value increased recently, meaning many buyers would like to acquire the vehicle.
In summary, classic car investment is a lucrative business, however, you need to analyse the vehicle’s performance and the future market value of the retro car before making a purchase.
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Classic cars with performance upgrades are likely to be of more interest in the motor trade industry and maintain a competitive advantage compared with other models.
Sentimental value can also boost the price of a classic vehicle, but whatever you opt for, be sure to invest in the right motor insurance policy before taking it to the road, in the words of Austin Powers – Yeah baby!
