Published on February 26th, 2014 | by Falcon0
Could a Classic Car Be a Better Investment Than a Modern One?
If you are considering buying a new car then maybe there a couple of different options you are considering and can’t decide between.
While most people choose a modern car, there are also many motorists out there who are keen to get behind the wheel of a quality classic car. These vehicles can give you a lot of fun if you approach them in the right but could they be a better investment than a newer car?
Less Fear of Depreciation
If you have ever bought a brand new car from a dealer with zero miles on it then you presumably know all about the fear of depreciation. You will have known even as you were driving it off the forecourt just how expensive those first few miles were going to be. This same concept applies – to a lesser degree – with the vast majority of used vehicles on the road. The big difference with vintage cars is that their appeal only seems to deepen over time. If you make a smart purchase and then look after the car well it should retain its value well or even increase it over time.
The Maintenance Cost
The cost of running a classic car is one of the reasons why some people get put off the idea of owning one of these vehicles. There is no doubt that it can be a lot more expensive than maintaining a more modern car but is the difference enough to make up your mind? For many people, the biggest way in which they avoid this being a problem is by being more hands on in their approach and learning more mechanical skills. There are a lot of tasks you can carry out on any car which you might not realise aren’t all that difficult. If you start doing a lot of work on your car then you will also get the warm glow of satisfaction which comes from being more self-sufficient. Another area which could be less expensive than you think is that of classic car insurance. By choosing Footman James classic car insurance you won’t have to pay through the nose for this.
The Non Financial Matters
The previous points looked at the matter in a purely financial way. However, you can’t just class your investments in this way to see if they are a success, can you? You also need to take into account the fun you get out of what you buy. If you buy a great classic car it could give you many, many hours of driving excitement over the next few years. Anyone who enjoys driving will find that a vintage car can take this pleasure onto the next level. Give it a try and will find that the adrenalin rush just can’t be beaten. This sort of car can give you the sort of thrills and excitement which money normally can’t buy. It is then up to you to decide whether this is something that matters to you or not.