Investing in Classic Cars – A Winning Proposition
3 min read
With the economy looking like it will be in a slump for a while most people are wondering what they can do to insure their financial future, the answer is classic cars, invest now and get ahead of the curve, but get all of your ducks in a row.
The key to investing in classic cars is to know about what your investing in, if your interested in a certain car to start you down the road to investing in classic cars make sure that you learn all you can about that particular car.
It really doesn’t matter what kind car you like, there were special cars built in almost car line, all you need to know is which cars they are, so if the car that your going to start with is a 1960’s camaro learn all you can about the 1960’s camaro, make yourself an authority on them.
Learn about the engine options, paint codes, interior options, transmissions, learn how to decode the vin plate, trim tags, and any other identifying tags on the car, know it from inside out, if your going to invest to secure your future you’ll need to do this.
You’ll be repeating this same learning curve every car you buy, if you’ve found what you think in a Yenko camaro and the selling price in really low, don’t consider in a good deal until you know for sure that it is a Yenko camaro.
Special cars like the Yenko camaro, the L88 corvette, the hemi cuda, the GT350 mustang, and the list goes on, these are all great muscle cars to start with, but none of them are usually cheap to buy, if your looking for cheap, you’ll need to invest in something else.
The more time you spend learning about the cars, the less money you’ll lose on bad investing, so be sure that you know what your doing every time you buy an investment car, a standard camaro, or mustang is not an investment car.
The camaro or mustang in your buddies back yard with the straight back six in it is more then likely not what you want to start with for an investment, the true investment cars are very hard to find, but they are around and you can find them.
People will clone these cars and try to rip you off, this is why you need to know about the cars, know things like the 1969 Z/28 camaro only came with a twelve bolt rear end, it had multiple leaf springs in the rear, it had a 302 290 HP small block Chevy.
These are the king of things that you need to know before you buy the car, you can’t ever know to much about the car you want to buy so make yourself an expert, read books on the car, search the great Google search engine.
Once you learn what to search for Google will become your best friend, and closest partner when you start looking for information on these cars, you’ll need to learn how to sift through that crap and get to the good information though.
Once you’ve read a couple of books on the car that you want to buy, and you’ve mastered the art of the Google search engine, you’re ready to go have some fun and begin your search for your first classic car investment, go forth, invest wisely, and have fun.
