3 Cars That Offer the Best Long-Term Investment Potential

When we think of investment portfolios, we often think of stocks, mutual funds, and certificates of deposit (CDs). But have you ever thought about the world of alternative investments? One such alternative investment that is gaining traction is collectibles, with classic cars leading the pack. In fact, GOBankingRates recently spoke with classic car collectors to find out which classic cars show the most promise in terms of long-term investment potential.

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Porsche 911 S 1966

“The condition of the car, its availability and the market will all impact the potential return on investment when it comes to vintage or classic cars,” said Tomer Ruderman, founder and owner of Car Keys Ottawa.

Porsche produced only 1,709 short-wheelbase 911 coupes for the 1966 model year, making the car difficult to find when initially sold to car enthusiasts.

Proper maintenance of your car can help maintain its resale value. Low mileage and avoiding accidents can also prevent wear and tear on the vehicle and engine. One of these limited edition beauties recently sold for over $200,000.

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Corvette (C3) 1976

“Corvettes are highly sought after collectibles and are an excellent investment,” said Brenda Christensen, director of Stellar Public Relations, Inc. Christensen comes from a long line of Corvette collectors. His brother owns a ’67 himself, and his friend/former Formula 1 Corvette/Indy driver Johnny O’Connell used to collect it in a ’56.

Corvettes are a great investment because they are easy to maintain and repair, with ubiquitous parts and service offered nationwide.

“You can get into it at an easy entry level price, like I did with the less popular years (1976/C3), where I bought mine for $10,000 cash in excellent condition.”

His $10,000 investment is now worth $30,000.

BMW 1968 2002

“Given their rarity, most limited edition cars from reputable brands will be a good investment,” Ruderman said.

This small European model is a favorite of classic car collectors. With only 2,850 produced during production, it is rare to find this car. The 1968 BMW 2002 sells for around $10,000 to $30,000 when you find one for sale.

With any collectible, it is essential to research the market before selling it. Take note of recently sold vehicles and check the amount sold for and the condition of the car. Car collectors check to see if the cars have their original engines and other parts. If the body of the vehicle has been damaged and if the dashboard has been modified in any way. Other things to consider are rust on the vehicle, the condition of the paint, and the cleanliness of the car itself.

The story continues

“Selling privately, such as through Facebook Marketplace or eBay, will get you the most money, but it has its downsides,” Ruderman said.

You will need to take all the steps to put the vehicle up for sale, arrange test drives with potential buyers and avoid potential scammers. Alternatives for finding buyers are using local car auctions or selling to a dealership, but you’ll likely earn less.

Classic cars are a great alternative investment to complement your portfolio. And what’s more, they’re fun!

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This article was originally published on GOBankingRates.com: I’m a Car Collector: 3 Cars That Offer the Best Long-Term Investment Potential