Some people are lucky enough to buy a car that increases in value over the years, while others spend their hard-earned money on potential classics that end up being seen as outdated drummers. If you’ve been driving the same car for a while, you’re probably wondering what the chances are that your vehicle will gain in value with age. Maybe one day it could even acquire classic car status!
Why do some cars achieve “classic†status in their old age while other vintage cars are simply considered garbage?
Read more: Which Porsche models are considered classics?
Photo: The News Wheel
Reasons why some models become valuable classic cars with age
There are multiple factors that can determine whether a car will become a classic as it ages, or whether it will simply be an inexpensive and unwanted form of transportation. Qualification is not based on just one aspect. Three main factors are popularity, rarity and quality.
To become a classic car, a model must usually have been leased and wanted when it was released. Vehicles that are flopped or ridiculed upon release don’t garner the fan base or high esteem necessary for long-term appeal. Higher demand will increase the price people are willing to pay for the car, especially if only a defined amount is available after production stops.
Most of the time, these vehicles in demand are luxury or performance models. Economy cars may be popular and in demand right now, but their widespread availability and MSRP doesn’t contribute to their long-term appeal or scarcity. In addition, mid-grade models rarely become classics, unless they are considered a novelty or a unique collector’s item.
However, not all premium cars will see their Kelley Blue Book value increase as they age and become rarer. This is because its popularity must be high. The Chrysler Crossfire, for example, still has a relatively low resale value considering its low production quantity, luxury status, and original price. That’s because it’s not as in demand as other retired RWD luxury coupes.
If you want to make sure you are buying a car that is destined to rise in value by becoming a classic model, your best bet is to choose a limited edition edition of a luxury or performance model that is currently popular and which has proven itself. demand. However, there is no guarantee; predicting what will become a classic is seldom a certainty.
Brand in demand: A list of the most “classic” Maserati cars
Aaron is not ashamed to be a Clevelander native and the proud driver of a Hyundai Veloster Turbo (which recently replaced its 1995 Saturn SC-2). He happily uses his experience in theater, literature and communication to dramatically recite his own articles to local youth. Mr. Widmar happily resides in Dayton, Ohio with his beautiful wife, Vicki, but is often on the road with her exploring new destinations. Aaron has high aspirations for his writing career, but is often distracted by the deep nature of the human condition and forgets what he was writing… See more of Aaron’s articles.
