From the roar of a pristine Ferrari F40 to the gleam of a restored Aston Martin DB5, it’s easy to be led by your heart when buying a classic car.
But if you’re hoping for your passion to ultimately turn a profit, it’s important to look past the day-to-day pleasures of ownership, and weigh up the investment potential.
Anyone who has dabbled in the classic car market will know that values can move in both directions. But by choosing the right model, then maintaining and safeguarding it with professional classic car storage, you can ensure that your pride and joy doesn’t leave you out of pocket. Here’s how.
Understand the classic car market
When it comes to the classic car market, enthusiasm is no substitute for experience. Before you draw up a shortlist or reserve classic car storage, spend at least a few months immersing yourself in the culture of automobile trading. You should be reading the key magazines and websites, absorbing the atmosphere at car auctions, joining enthusiast clubs and gauging the supply and demand of individual models at meetings and online forums.
Shortlist the most investable classic cars
While most classic cars are no more than steady investments, some models are known for pulling ahead of the pack. For example, recent research by AXA Art found the value of a typical MGA rose 47% over a decade – better than any savings bond. The factors to keep in mind are brand, age, rarity, demand and the kudos that results from, for instance, a car appearing in a Bond film or coming at the end of a production run. Get ticks in all these boxes and you’re unlikely to take a hit when it’s time to move the model on.
Sharpen your buying strategy
When considering the asking price of a vehicle, weigh up future costs like insurance and parts availability, and visit several sellers with similar models to see which wins out. Condition is king, and supposedly ‘mint’ classics can conceal rust in the subframes and elsewhere, so bring a friend who knows their nuts and bolts. Always check the paperwork, and remember to ask key questions, like whether the vehicle has been kept in long term car storage.
Protect your investment with classic car storage
In the unpredictable world of classic car investment, the closest thing to a certainty is that maintaining your vehicle’s condition will protect its value – while on the flipside, a neglected model will soon shed ROI. If you have the hands-on experience, and are sure to use parts faithful to the original spec, then giving your classic car a full restoration will certainly boost its value.
But don’t overlook the benefits of classic car storage. At Windrush, we treat every vehicle like it’s our own pride and joy, offering a classic car storage solution that starts with our exhaustive twelve-step induction process. Next, we’ll introduce your car to its own dehumidified, climate-controlled indoor storage bay, treating it to 24/7 security, twice-daily checks, weekly battery and drip tray inspections, plus a deep maintenance checkover every 60 days. It’s all part of a short or long term car storage solution that keeps your investment in peak condition.
To discover how Windrush classic car storage could protect your investment, get in touch today.