Many geopolitical and economic events are affecting the value of classic car investments in the 2022-2023 period. If you’re thinking of investing in a classic model, be prepared to pay higher costs for the insurance. At the same time, the car can be a worthwhile investment that grows in value over time. Here’s a look at some of the best classic cars to buy in this period.
Here Are the Best Classic Cars to Buy for Investment in 2022 – 2023
- Mercedes SL (1980-2001) – The brand name alone makes the Mercedes SL widely sought after by sports car enthusiasts.
- Alfa Romeo Spider (1966-1982) – Spiders are Italian dream cars for style and smooth riding.
- Toyota MR2 (1984-1989) – This classic sports car brings back memories of when the trend toward economically efficient and reliable automotive design began.
- Porsche 911 and 924 (1965-2021) – Porsche is simply an iconic brand for car collectors, as any model can potentially hold tremendous value.
- Jaguar XJ-S (1975-1996) – Similar to the E-Type, the XJ-S is a reliable, high-performance vehicle that’s fun to drive as a coupe or convertible.
- Triumph Stag (1970-1977) – Popularized by the James Bond film Diamonds Are Forever, this classic car still has rising demand. Less than 26,000 units were manufactured, making it a scarce item with a steadily rising value.
- BMW E24 6 Series (1978-1989) – Known for its superior performance, the E24 6 Series attracts collectors of both luxury and high-quality engineering.
- Ford Escort RS2000 (1971-1973) – An enjoyable ride for the ages, a classic Escort is becoming rarer every year, as its value keeps increasing.
- Volvo 1800 ES (1972-1973) – This collector’s item became popular in 2017 from Roger Moore’s final film,The Saint.
- Ford Capri (1968-1986) – The Ford Capri Mk1 and Mk2 models have been sought by classic car collectors because of their rarity.
Why Invest in Classic Cars in 2022 – 2023?
The reason why now is a good time period for classic car investments is that global issues are pushing values higher. Essentially, the scarcer a model is, the higher demand it potentially commands. Supply chain disruptions make car parts increasingly more expensive. Price spikes have a domino effect that benefits classic car owners.
Reminder on Investing in Classic Cars
Market values for classic cars fluctuate wildly over time. What’s popular and expensive among car collectors this year may not be true a year or two from now.
What Keeps Car Investment Value Stable?
The best way to preserve a classic car investment is to give the vehicle regular care and maintenance. Don’t expose it to environmental elements such as bad weather over extended periods of time.
Cover Your Classic Car with CAV Insurance
Part of the thrill in owning classic car investments is that they let you flaunt style. Contact us at CAV Insurance Agency Inc. for more information on covering your classic car.