There are many people that collect classic cars as a hobby and do really pay attention to the cost. Some of the cars that people collect do not even work because they are very old and they need repairs. The market has a demand for classic cars regardless of whether they work or not. There are magazines, auto stores and classic car websites that are specifically designed to sell classic cars. You can also find a classic cars sold at an auction. Purchasing a classic car can be a good investment. The value of classic cars increase as they get older and become more rare.
Vintage number plates as well are growing in popularity as a good investment. Some number plates date back to before 1900! Though its not just the age of the plate you should look out for. Color, origin, condition, shape and even the story behind the number plate can influence the investment worth. Like classic cars, the longer you hold on to number plates, the more value they accrue as an investment piece.
There are a couple of ways you can invest in classic cars. Purchasing a classic car that is in a little disrepair that you can fix up can pay off big time when you finish repairs. You can also purchase a classic car from its original owner. They will normally want to sell the car at a fair price so they have extra money but the car might actually be worth A LOT MORE especially if the original owner took good care of the car.
If you are to buy a classic car as an investment, the first thing you should do is visit the local car shows to get an idea of the cars that are around. There are some dealers that usually have good deals on cars that have some repairs to be completed.
When you are purchasing a classic car, it is important to negotiate with the owner or dealer to ensure you get the best available price. The value of a classic car is not fixed so the dealer can put whatever price he wants on the car. The price he wants is just the asking price and should be considered the starting negotiation. You can bring the price down easily by negotiating. Do not try to bring the price too far down because the owner might lose interested in the deal.
To make the most of your classic car investment, by the classic car at the best rate you can get and hold it for as long as possible. You can sell it when the market rate is higher. The values of these vintage cars rise gradually. Your investment will provide a good profit if you have patience when you are selling your classic car. You can sell your cars privately, list it with a dealer or sell your car in an auto auction.
This is the same with vintage number plates. Purchase at the lowest price you can and hold on to it until the time is just right to sell! There are many places to purchase vintage number plates as well – junk yards, op shops, flea markets and automotive swaps are good places to start.
With a love of classic cars, we hope that you will invest in many vintage cars and number plates in the future, and keep a piece of automotive history for yourself.
Main image of a 1926 Bugatti Type 35 T, by Roberto Ferarri, 2011.