You are here: Home - Household Bills - News -

The cars most likely to become collectables in 30 years’ time

0
Written by:
27/11/2018
The average car depreciates by 60% by the end of its third year of life. That means buying a new car is a quick way to lose money.

For car owners, the options are clear: own an old banger (cars stop depreciating significantly after 8 years), or buy a car that will hold its value. A 1962 Ferrari 250 GTO sold at auction this year for $48,405,000 at RM Sotheby’s sale in Monterey, making its owner a tidy profit.

However, for those looking for a lower entry point, Graham Eason of Great Escape Cars has created a list of the cars most likely to become collectables in 30 years’ time.

Top of the list is the Ford Focus ST170, which can be picked up for as little as £1,000-£2,000. Eason said: “The Ford Focus followed in the footsteps of the famous first-generation Ford Escort, resetting the bar for family car handling. Prices have begun to pick up in recent months and will more than likely continue to rise as people rediscover the value of this underdog.”

Also at the cheap end are the Fiat Coupe 20V Turbo (£1,400+), the MGF (£1,000-£3,500) and the VW Golf MK2 GTI (£6,000+)

The Jaguar XJS V12 also makes his list. This has a higher entry point, at £9,000+, but convertibles have shot up in value and the prediction is that coupes will follow. Eason says that the V12 is arguably Jaguar’s greatest engine while the XJS model is a good GT car, creating a great combination.

At the top end is the Aston Martin DB7 V12, which is likely to set drivers back £20,000+. Eason says: “All Aston Martins appreciate – the DB7 is no different. The model has been unloved for a while due to its Jaguar XJS underpinnings, however that will change.” However, he warns that Aston Martins need good – and expensive – servicing.

Also at the more expensive end is the Jaguar XJ6 Series 1-3 (£5,500-£20,000) and the iconic Renault Clio Williams (£7,500-£15,000).

Eason says that measures such as regular servicing, good driving, a clean interior and a reputable mechanic will help keep a car in ‘classic’ condition and preserve value. He added: “It’s always interesting to hear which cars people believe will be worth a small fortune in a few decades, but there is a real chance that thousands of people could own a future collectable…Cars such as the Jaguar XJS V12 and the MGF that are unique, reliable and great fun to drive have already begun to appreciate and we’re likely to only see their value rise. However, cars like these must be properly looked after, not only to retain their value but for them to appreciate as the years go by.”

Al Preston, co-founder of WhoCanFixMyCar.com, said: “This list goes to show what a fantastic investment cars can be. You never know, you could be sitting on thousands of pounds – if you ensure that your car is kept in good working order, of course.”

 

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

The savings accounts paying the most interest

It’s time to get your finances in shape, and moving your cash savings to a higher paying deal is a good plac...

Everything you need to know about being furloughed

Few people had heard of ‘furlough’ before March 2020, but the coronavirus pandemic thrust the idea of bein...

The experts’ guide to sorting out your personal finances in 2021

From opting to ‘low spend’ months to imposing your own ‘cooling-off period’, industry experts reveal t...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week