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What Value Would a Classic Car Investment Give You?

February 26, 2014 by Financefox in Tips

What Value Would a Classic Car Investment Give YouIt is easy to think that buying a classic car is a purely emotional decision based on how much you love the looks of it. In fact, some people might tell you that it is a poor type of investment.

However, if we look at it in terms of both financial and non-financial value we can see that it could turn out to be an excellent investment in the following ways.

The Driving Pleasure

Probably the biggest pleasure you will get from your classic car is in driving it. This might sound obvious but it can be easy to forget. Whether you are going to be taking it to vintage car shows, going on long road trips or just going for some spins around town, you should get a lot of driving pleasure out of it. Of course, if you aren’t going to a huge amount of pleasure out of your classic car then you probably shouldn’t be looking at buying this sort of vehicle anyway. On the other hand, if you love to drive and to turn heads at the same time then your car will give you lots of enjoyment on the road. In fact, you might soon start to wonder how you managed to drive for so long without ever feeling the thrill of being behind the wheel of a fantastic car like this. A lot of new classic car owners discover a whole new side to driving they had never thought about before.

Hours of Fun Tinkering with It

For other people tinkering with their car can be almost as much fun as driving it. Many vintage car owners love to wash their vehicle, check the engine and generally tinker with it. If you are a fan of rummaging about under the hood and making things look better or work better then a classic car can be a wonderful investment. Once you get started on this hobby it can be seriously addictive. You will probably find that buying spare parts is relatively expensive and time consuming but coming up with alternative solutions can be a great mental challenge to take on.

The Sell on Value

Finally, most of the time when we buy a car we worry about the depreciation it will suffer. It is common knowledge that most vehicles lose value at an alarming rate, especially if you buy them brand new. Vintage cars, on the other hand, can even increase in value over the years if they are well looked after. This is one of the few types of car purchase which can actually see you grow your initial investment over time. Even if you aren’t particularly interested in the investment side of the purchase you should bear in mind that taking good care of the vehicle could work out very well for you in the long run. Don’t forget that protecting the car with the likes of Footman James classic car insurance is also essential, to ensure that any accidents or other incidents don’t see you losing out.