As more and more people are beginning to look towards investing in classic cars as a viable means of turning a profit and for securing funds, people often pose the question “what type or model of car should I buy?” This is an extremely difficult question to answer because in the first place everyone will have different criteria as to what constitutes their ideal investment. Some people will have a more generous budget than others and so be able to afford more costly cars such as the Ferrari 265 GTB which is an exceptionally precious and rare classic car. Others may be drawn to a particular car as they are pleased to its aesthetic value, the Citroen SM for example despite it being produced and sold in the 70’s is still hailed as a very modern design even to this day.
The best way to determine what is the best car for you is to consider your reasons for actually purchasing the car in the first place. If you are making the purchase for personal usage then cost and the appearance of the car will most likely be the major parameters used to choose between the various cars available.
If you are planning on purchasing a classic car as a potential source of income, (perhaps you have ambitions of selling it sometime in the future) then the criteria shifts and the primary focus becomes on the actual “quality” of the car in question. For classic cars, in order to secure the maximum possible value you need to ensure that the classic car in question is as “original” as possible. A major scam used in relation to classic cars is that the bodywork of the car is original whilst the various components which require a dissection of the car are more modern.
Classic car collectors appreciate quirks and limited editions, so anything that makes a particular car of a specific brand stand out, will be liable to be more profitable. If a car manufacturing company changed the spelling of a car name for example then you can be rest assured that the original series would constitute a limited edition and a collector’s item.
If you do intend to sell the classic car at some later stage for profit then make sure that you are well aware of the market and the demand for the car. Some classic cars that were once upon a time highly desired have now found themselves relegated to the bottom of the list and so investors who were hoping to turn a profit have now been left with a liability.
Regardless of the reasons as to why you are purchasing a classic car make sure that you get an independent expert to evaluate the car both in terms of working condition as well as the actual market value of it. This will help to ensure that you pay a fair price and obtain a good quality car to boot without paying over the odds.