Ladies, you might want to show this one to your hubbies…
As it goes, classic cars are now a pretty exciting investment. When the banks all went a haywire in 2008 many of us started to think of new ways to make our money work and it would appear the classic car market was one of them.
You might have noticed a few more Brits and Germans knocking about the States recently, that’s because we have something they want. Their cars back! Europe has been snatching back the Porsche after the air cooled era sports cars increased in value at a rate of knots.
Sadly for us, the Europeans don’t really have much to offer us in return so we need to focus a little closer to home to search out a great investment.
Barn finds are a thing of wonder. You know the story, big old barn in the middle of nowhere with no real clues that there could be anything other than old tractors parked up inside, then suddenly you move an old bed sheet and there she is, a 1964 Pontiac GTO. The farmer has no idea this is the coolest car in America, you pick it up for an unspeakable price, get on the internet and before you can sing “We’re in the money” Shiply’s car transport service has packed her up and she’s on her way back to your garage.
Ok, so this scenario is something Richard Rawlings’s dreams are made of, but finding a classic American gem isn’t as hard as you might think.
Check out your local car ads, get out your car and look over a few fences, visit garages and talk to your neighbors. There are so many cars in America that are worth a good deal of cash with a little TLC. Come on, you just have to switch on the TV and you’ll stumble across a show that’s focussed on exactly this (like American Pickers or Count’s Customs).
You will need good mechanical knowledge or a great relationship with a mechanic, and it’s definitely worth taking him with you for a second opinion before you part with your hard earned dollars. If you are looking for a quick turnaround so you can keep a fluid investment (buying small, selling, reinvesting a little more, selling – you see where we are going here) then it will pay to use an auto shop to help bring your project to life. However if you are thinking of one longer investment then you can save money doing the bodywork and basics yourself. A project to work on with your partner or maybe even a bonding experience with one of your kids.
As you will know from the aforementioned King of Classics, Gas Monkey don’t just bring these cars back to their former glory they also improve and modify. Have a look at the current trends and create something really unique.