Muscle Car Investments

[captainron]

New to this market. I have the opportunity to pickup a number matching L78 RS/SS Camaro with a big block. It's a solid #2 car thats been rotisseried and the guy is asking $35K. I've seen similar cars listed for anywhere between 30-50K. For those with experience, are these cars good investments? I've heard about 10% increase in value per year. Thanks.

Ron

 

[turbofish38]

If you ask me cars were never a good investment. Just look at those dumba$$ price guides if you need a good example. Take one that is 5 years old and another that is 1 month old into any investment broker and ask his opinion and I'd bet he'd say the same thing. Just my $.02.


BTW I'd never pay that much for a restored car. What's the reputation of the shop that did the work? There's a difference between a professional shop that does nothing but muscle cars as compared to Joe's body shop in town and some guy screwing the pieces back together in the driveway. I'd probally be more satisfied paying that for an original car that has a little bit of rust and some faded paint.

 

[TexasT]

I'd have to agree but they aren't a sure-fire, no way to loose investment. But as with anything if you can buy low and sell high, you are making money but you do need to factor in the time it takes for the "values" to rise and figure that into your equation. Do you have a place to store this or any other "investment" vehicle to keep it from deterioration. This will also cost and add to your dollars invested column. How much do you plan to drive it and add mileage? This will also affect its "value".

Car were built to drive. Unless you are a giant car leasing company, I wouldn't be looking to make a fortune in automobiles. Real Estate would be my choice to "Make Millions". Good Luck with your purchase. It does sound like a fun car to tool around in.

Rich

 

[craggar]

If the car was done properly that is not a bad price. I just sold a 69SS clone that the body was done the right way and I got 28,000 as a roller then sold the nice 383 that I built for it for $8,000. I made money on the car but I spent a fair bit of time looking for the right one before I bought.
I agree though if your looking for an investment buy real estate.

 

[chopped39]

I would agree. buy real estate. Cars are a bad investment .Unless its a yenko or a copo untouched you will sit on it for a while.depending on who did the resto and if they have pics of work as it progressed. That is a nice car.I would rather have it unrestored.I have a real good friend that owns a body shop he has been around since the mid 60,s. He had a customer drop of a 68 z28 that was a back half drag car and he wanted to turn it back to stock well they did it.It was unbelieveable.that is why i would not want a resto.Even though they did awesome job . Its a tough market thanks to Barret/jackson.They brought the prices so high on muscle cars.that people that really like the cars cant afford them and people that had cars like that 68 were turning them back to stock and making a boat load of money. do the real estate.although 35,000 isnt going to buy much real estate. I would throw 28,000 cash at him and see if he bites.probably will not but it is worth the try. good luck

 

[PsYcHo GN]

New to this market. I have the opportunity to pickup a number matching L78 RS/SS Camaro with a big block. It's a solid #2 car thats been rotisseried and the guy is asking $35K. I've seen similar cars listed for anywhere between 30-50K. For those with experience, are these cars good investments? I've heard about 10% increase in value per year. Thanks.

Ron

Cars have always been the worst investments . The more expensive the car (especially luxury cars), the worse they depreciate in value. If you want to invest your money and get a profitable ROI (return on investment), real estate would be your best investment.

Now, if you have extra cash to burn on a vehicle, without looking for a profitable ROI, then a classic vehicle would be your best investment since they constantly appreciate in value. I've done plenty of research on classic/muscle cars. The cars that are all or mostly all (resto-mod) original bring much more money than a car that is fully raced out. Pro-touring (lowered, big wheels, big brakes, big horsepower) vehicles bring good money as well since there is a bigger market for them. Rather than purchasing a new car that will depreciate and be worth half the value in 5 years (probably lose more if you finance it), you can purchase a clean classic car, which you can enjoy at the same time and it'll increase in value.

If the vehicle you're looking at is restored correctly with matching numbers, then it is definitely worth the asking price. You will be able to sell it for a profit in around 5 years, but why would you want to do that? Camaros have always been my favorite cars since my youth, especially '69 Camaros (most sought after muscle car).

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