Suffering from new car sticker shock? In a world where the price tag on new vehicles seems to escalate annually, the prospect of driving an American classic as a daily driver becomes increasingly appealing. Beyond the allure of nostalgia, considering a classic car not only as transportation but also as an investment is gaining traction among those in the know. These timeless vehicles may lack the electronic gizmos of Detroit’s latest models, but they offer a charm, simplicity, and potential appreciation that modern cars can’t match.
Rising Costs of New Vehicles
The automotive landscape is witnessing a steady surge in the cost of new vehicles, making the prospect of owning the latest models financially daunting for many. As the industry incorporates cutting-edge technology and features, the price tag inevitably reflects these advancements. For factoring brokers and professionals, seeking an alternative that combines style, utility, and potential financial gain is a savvy move.
Classic Cars: An Investment Opportunity
American classics present an intriguing proposition for those looking to make a sound investment while enjoying their daily commute. Unlike the rapid depreciation experienced by new cars, many classic cars have a track record of appreciating over time. Investing in an American classic not only fulfills the practical need for transportation but also offers the potential for a return on investment.
Simplicity and Reliability
While the latest models boast a myriad of electronic features, they also come with the complexity and potential issues associated with modern technology. American classics, on the other hand, are renowned for their simplicity and reliability. These vehicles often feature straightforward mechanical systems that are not only durable but also easier to maintain. For individuals with an inclination towards DIY mechanics, owning and maintaining a classic car can be a rewarding experience.
Three Highly Enjoyable (and Affordable) American Classics You Can Own
Ford Mustang (1964-1966): A symbol of American automotive culture, the Ford Mustang has a timeless appeal. Its iconic design and powerful performance have made it a favorite among enthusiasts. With a rich history spanning decades, the Mustang has proven to be a solid investment.
There have been dozens of high performance models offered over the years and many have already become out of reach for the average broker. For example, a 1965 Mustang GT 350, purchased in 1965 for just over $4,000, will now fetch upwards of $400,000. What a great addition to your retirement account. But there are an unlimited number of excellent examples of 64-66 Mustangs well under $35,000. Many convertibles as well.
Chevrolet Corvette (1968-1973): The Corvette is synonymous with American sports cars. Its sleek design, powerful engine options, and legendary status make it a sought-after classic. As
Corvette models from different eras continue to gain value, owning one can be a thrilling ride and a wise investment. While the creme de la creme of vintage Corvettes are the series two generation, the series three (and especially early models up to 1973) still offer exceptional value with the 350 cubic inch V-8s engines. You can be driving one of these investments in excellent condition under $40,000
Ford Thunderbird (1955-1957): An instant classic when it debuted for the 1955 model year, Ford’s original Thunderbird was low and lithe like the European sports cars. Given its sporting intentions, it featured seating for
two with a higher-performance four-barrel V-8 and tachometer as standard equipment. It is fair to say that the first-generation Thunderbird (1955-1957) is one of those automobiles that has been a collector car almost since it was new. While you’re looking for a car with an older restoration to make it affordable, you can easily be driving one of these beautiful classics in the $40,000 range
Networking Opportunities: A Hidden Gem of Opportunity
Owning a collectible classic car extends beyond the thrill of driving a piece of automotive history; it opens the door to a world of unique networking opportunities. Classic car enthusiasts, often business owners themselves, find camaraderie and valuable connections within the vibrant community of fellow collectors. For brokers constantly on the lookout for networking events, classic car ownership unveils a hidden gem of connections and shared passions.
Shared Passion…Shared Business
The common love for classic cars often reflects shared values and interests among owners. Many classic car enthusiasts are entrepreneurs, CEOs, or decision-makers in various industries. This shared passion for automotive history serves as a foundation for building meaningful business relationships. Conversations about carburetors can seamlessly transition into discussions about business strategies, creating opportunities for collaboration and partnership.
Joining classic car clubs and enthusiast groups provides brokers with exclusive access to a network of accomplished individuals. These clubs often host events, rallies, and gatherings where owners not only showcase their vehicles but also exchange ideas and experiences. The shared bond of classic car ownership becomes the gateway to a community of professionals, creating a supportive network that extends well beyond the automotive realm.
For factoring brokers navigating the daily grind, the idea of driving an American classic as a daily driver goes beyond mere transportation—it’s an investment in style, simplicity, and potential financial gain. Purchasing the “allure” of timeless vehicles not only offers a unique driving experience but also positions individuals to be part of a growing community of classic car enthusiasts who appreciate the value of the journey and the destination. In fact, owning a classic car can open many business development opportunities as well.
To explore your options when it comes to classic cars, Hemmings Motor News is the “bible” of the collector car industry since 1954.