It is well known that cars are a depreciating asset. Once you drive a new car out of the dealership parking lot, its value begins to decrease. Most financial experts agree that cars depreciate over time and are generally not a good investment.
However, there are exceptions. An article on the financial website gobankingrates discusses how you can accumulate wealth through cars.
There are typically two ways to accumulate wealth through cars. One way is to purchase a car that is expensive but needs repairs. Once you invest in repairing the car, it can bring you profits. This scenario is known as “car flipping,” but it is not the main topic of this article.
The second way is to invest in classic or collectible cars. Collectible cars are vehicles whose value increases over time because collectors consider them valuable. These cars are usually vintage vehicles with at least 40 to 50 years of history, currently in good condition, and often released in limited editions.
Here are five cars that gobankingrates recommends considering for investment to accumulate wealth:
The Porsche 356 was the first car manufactured under the Porsche name in 1948 and was a great success. Over the next 17 years, several limited edition versions of the Porsche 356 were released. These cars are still sought after today by multiple generations.
The 356 was known for its small body, simple structure, and no decorative strips. It used a lightweight air-cooled engine, low center of gravity, and good durability. The aerodynamic design and excellent assembly quality of the 356 vehicles earned them a good reputation among car enthusiasts on both sides of the Atlantic in the early 1950s. Today, the average price of a 356 is $165,344, making it a potentially lucrative investment if you can purchase one at a lower price that requires restoration.
Years ago, a rusted 1955 Porsche 356 that had been abandoned for 41 years was sold on eBay for over $152,701. After restoration, it could be resold for hundreds of thousands of dollars.
Several Chevrolet Corvettes are considered classics. The well-maintained 1969 Corvette Roadster can fetch up to $59,000, while the 1962 Fuelie C1 Corvette can reach prices as high as $100,000.
If you can purchase these cars at a price below their peak value and hold onto them, both models would be worthwhile investments.
When Ford introduced the Shelby Mustang, it was not just a muscle car but also a fast racing car known for its performance and handling on the track. This car experienced explosive growth in the American automotive market and is expected to increase in value over time.
The 1967 Shelby GT500 was famous for its high performance, outstanding handling, and stylish design, selling for up to $2.2 million. The average price far exceeds $100,000.
The Dodge Challenger was Dodge’s response to Ford’s Shelby Mustang and Chevrolet’s Impala. Released in 1970, this muscle car has remained a classic since then.
It is valued at $559,995, with an average price around $80,000.
Aston Martin models are some of the most unique cars on the market, epitomizing luxury and exclusivity. These cars are often driven by British celebrities, evoking a sense of British luxury and elegance. The company prides itself on not overproducing cars to maintain their value, a wise decision.
The Valkyrie, a limited edition model, starts at $3 million and only increases in value over time. The more affordable 2024 model DB11 is priced at around $217,000, offering a reasonable investment opportunity. Owning a car from this brand is unlikely to result in losses.
Ultimately, whether you are buying collectible, exclusive limited edition, or classic muscle cars, thorough research, having a mechanic inspect the vehicle, and considering your long-term goals are essential before making a decision. The right investment could be highly profitable, while the wrong investment could come at a cost.
(Note: This article is for general informational purposes only and does not constitute any recommendation. The Epoch Times does not provide investment, tax, legal, financial planning, real estate planning, or other personal finance advice. For specific investment matters, please consult your financial advisor. The Epoch Times does not bear any investment responsibility.)