These Classic Cars Might See a Jump in Value
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It’s hard to decide which classic car to go with as a first time buyer. While you’re trying to figure out how classic car insurance works, and learn more about your top pick, you might miss out on a great deal.
That’s why Car and Driver reported on classic cars that are still affordable but about to see an increase in value. With the value of these classic cars rising fast, you might want to buy them soon if they’re on your watchlist. You might also be thinking about buying one of these cars to resell, but here are some things to consider before you do.
Which classic cars are about to rise in value?
The classic cars that Car and Driver’s auto experts chose were all around or under $30,000. They believe that these cars will soon see an increase in value:
- 2003 Nissan Xterra
- 1996 Camaro Z28 SS
- 2004 Ford Mustang Mach 1
- First-generation Nissan Pathfinder
If you were eyeing these classic cars, you might want to buy them soon, though the Car and Driver editors admit that the K-Cars are tough to sell in the collector world. Here are a few factors used to determine these predictions for classic cars that will increase in value.
What increases the value of a classic car?
Joey Capparella, senior editor for Car and Driver, said that one of the reasons that classic cars increase in value is because of uniqueness. For example, the 2003 Nissan Xterra has high mileage, an optional supercharger, manual transmission, and body-on-frame build. There aren't really any other new vehicles like the Xterra.
The first-generation Nissan Pathfinder is now a rare classic car. Classic cars that are scarce and hard to find might spike in value. Some classic cars like the Ford Mustang Mach 1 and Camaro Z28 SS still pack great performance even though they are older cars. This can help you save money on repairs, and help make sure your car is reliable and valuable.
You can use a tool like Hagerty’s valuation website to check on the value for the classic car you want.
Should you buy these classic cars to resell?
If you’re a classic car enthusiast, you might not be worried about reselling your car. After all, you are intentionally purchasing an older, used car that can sometimes be unreliable to drive. You probably like a classic car because of its design and aesthetic—not because it’ll increase in value later on.
Reselling or flipping cars might not be the most profitable. In order to sell a classic car for large profits, you probably have to spend a lot of money to get it restored. You should also keep in mind that Car and Driver didn’t use an exact science when making predictions for classic cars that will increase in value.
If you’re looking to buy a classic car so you can wait to sell it for higher profits, you might be waiting for a while. If you do buy one of these classic cars, you’ll still need proper car insurance for it. Jerry, a free AI-powered app, can help you compare rates from 45 top insurance companies so you don’t have to overpay for insurance.