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Classic cars can make you money
Appreciating classic cars that have made big money in recent years
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The classic car market can be a volatile place but the right car could become an appreciating asset that makes you a fortune. Incredibly Her Majesty's Revenue and Customs (HMRC) still classifies classics as 'wasting assets' - meaning profits are tax-free - and with interest rates at a historic low, canny buyers can still show a return even after paying back a bank loan. The trick is finding the right car.
Many of the amazing cars in this gallery may be far beyond your financial reach but the kind of percentage increases these models have shown in recent years can easily apply to affordable classic cars too.
Take the humble Citroen 2CV, for example. These cars were available for peanuts a few years back but now you'll be lucky to find a decent one for under £3,000. British company 2CV City is even restoring 'tin snails' and exporting them back to France where they fetch up to £11,000.
Used Citroen 2CVs on Auto Trader from £2,800
Who knows, make the right buy now and you could have the next Jaguar E-Type or even Ferrari Daytona on your hands. The mind boggles...
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22Comments
16/10/2012 15:01
16/10/2012 15:21
16/10/2012 15:56
16/10/2012 16:50
16/10/2012 16:39
16/10/2012 15:36
You would have to be a very rich man [or woman] to buy most of the cars on show here . The cheaper cars included are mainly rubbish ! . Never seen a M.G. b or roadster that didn"t need weeks of welding or a new bodyshell . As for a Citroen 2 c.v. are you kidding ? , it"s the French revenge for years of namecalling . I once tested a 2c.v. in the 80s while working at a Nissan dealership , we placed the failure sheet in a frame and wall mounted it , the owner scrapped it after it had failed on just about every possible item , and the owner was a c.i.d. police sargeant . Another poor article , that could have been better .
16/10/2012 17:24
16/10/2012 17:33
Some of these cars are ridiculously over-priced and have now 'out priced' what they should be valued at today due to inflation. I often wonder is there motive behind this to stop ordinary people who love these cars from ever being able to afford them and only allowing them to be owned by a very select few; maybe they just don't want them to be over-popular so the value of them goes up in order to preserve their uniqueness, especially in a today where all cars that all look the same; if that's the case then they might as well be put in a museum and never be driven at all. I've seen e types well over 60k for sale lately, and that is an insane amount of money to people (most of us in fact) who've never really had more than a few thousand in the bank from saving and saving, that's because almost everything we earn has to go on more taxation and paying stupid amounts of money to the useless government who treat us like mere cattle to be used as they like. 7 million for a ferrari? the world needs to get its damn priorities right.
16/10/2012 17:14
16/10/2012 18:35
I love the MGB GT and Citroen 2CV... because we had both when I was growing up in the 70's and 80's. Our MG was a gold colour convertible and the 2CV was bright yellow hence our name for her' DUCK'. I remember mum dropping off us at school and picking us up. You could hear the engine before you seen her. My father's pride and joy was the MGB. Both will be classics forever in my memory..I wished they had have kept them...
24/11/2012 22:31
21/10/2012 12:46
21/10/2012 09:57
16/10/2012 17:38
21/11/2012 23:26
This article is very subjective - there can be a world of difference between the asking price of a car/item than the actual sale price. An antique is only worth what a buyer is prepared to give. Many motoring journals have adverts for average cars at an extortionate asking price and the advert appears month after month as the price is more than what a buyer is prepared to give. The original MINI is a classic example where a good condition model is advertised at many thousands of pounds - Mini Vans or Pick-ups even more money. Are they worth this money? Who pays this type of money for a used Mini when one can purchase a used Rolls Royce for similar money?
30/10/2012 13:11
making money is possible but is slow you need to buy the right cars at the right time
heres a couple of easy ones
sporting fords (puma's now £1000 ish will go high
the first xk8s now £ 4000_ 6000 & will rocket
the very 1st saxo vtr/s (nothing revolutionary but nor was the 1957 chevy!)
future one
the big engined bmw 1 series coupe start looking once over 10 years old
17/10/2012 18:29
16/10/2012 22:20
With regards to the Austin Healey comment "By 2002 the price had trebled and now it's just a matter of time before a well-restored example hits the big £50k". Actually they already have, and most Austin Healey 3000's have surpassed well beyond that, most I've seen for sale on classic car sites are asking anywhere in the region of 50 to 75k; you'd be lucky to find one in the 15-20 or 30k region that isn't just a bare body shell or rust bucket that will need a full restoration costing twice as much. Come on, please, who's going to fork out that kind of money for a car? Why can't these often wonderful examples of classic cars be more obtainable to those who would love to own one? Has everyone who owns one of these had to sell their homes for one? Even if I earned that amount of money a year I still couldn't afford one or wouldn't dare to splash so much on one; I think there's far more important things to spend the money in this world.
16/10/2012 19:06
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