One day your current car will be a classic – In fact, guaranteed
Americans are keeping their cars longer today and as the recession breaks we see the average now being up to 8 years. Slowly that number will start to drop, but consider this; If you’ve had your car for, say, an average of 10-15 years, you’re pretty much on the outer limits of what could be considered a classic car. If your car is 20 years old, you could call it a classic, so maybe it’s only 5 years away from that. If so, why not keep your car in good working order, make sure it’s all original, and put a few bucks into it to keep it in tip-top condition? Why do you ask?
Well, classic cars in good condition sell for a fair amount of money. A 30-40 year old classic and commands a fair amount of change. So if you have an older car, you may want to get it all repaired, repainted with factory color paint, and buy all new tires and any worn parts now. Then cover it up and drive it only occasionally, even if you already have a new car as your daily driver. If you live in a temperate climate with low humidity, this may be a very good idea for you. Remember that all of these high-priced classic cars sold at auto auctions were also someone’s car at one time, well-maintained or fully restored.
Will all cars reach such a high price in the future? Well of course not, some cars will never be worth a lot of money, but some will, and if you have a sports car of some sort or a car that didn’t make a huge production run then it could go into higher dollars at some point. in the future, and suffice to say, the longer you keep it good, the more it’s worth. How do you know when to sell what you order? Well, you need to sell in a rising economy, not an economic downturn when classic car prices drop.
Right now, we are in the midst of a very strong rally in classic car sales prices, stronger than you might expect. Just think if you had a couple of classic vintage cars to sell right now, imagine how much money they could make today. Now, time moves on and there will be more opportunities in the future if you miss this round. Maybe you could see what’s going on now to motivate you to keep your car in cherry shape until it becomes an old classic. Please consider all this and think about it.