Antique Cars an Investment or a Hobby?

Antique car collectors generally fall into 2 main classes. Collectable cars, such as old classic cars have usually passed their normal life expectancy. Renovating them can be an arduous and costly job. The person who considers classic automobiles as a hobby probably gets a lot more enjoyment out of bringing them back to their former glory, whilst others have only one thing in mind-to make profit out of the process and sell off as soon as is possible.

So what differentiates vintage vehicles from the classic variety? The answer depends on who you ask. The general concensus of most motoring associations is that vintage means anything produced between 1919 and 1930. There appears to be some overlap concerning the period between collectors; vehicles noted to be in the classic category, to all intents and purposes though,  are usually cars built up to 1948 and are usually top-end distinctive models.

The price of these types of vehicle can swing dramatically and many people advise you should only buy what you like, mainly for enjoyment purposes, as investment and profit-making can be very dangerous. In the 1980’s, second hand cars were reaching very high prices, only for the market to slump a few years later. Therefore, it is definitely a case of buyer beware.

Another important point to be aware of is that running costs of keeping that old four-wheeler on the road as well as the supply of spare parts can be very expensive. As for the latter, many parts have to be handmade due to the fact the models were discontinued.

So what makes a good acquisition? Again that depends on a lot of things. Some Rolls Royce models, for example, can command very high prices, whilst others hardly hit five figures. Like a bottle of wine, there are good years and not-so-good years. If you are considering buying, it is strongly advised that you take some professional advice and are not buying on impulse and first looks. It pays to check out other vintage cars of the same year of manufacture and determine what the same models are going for. If you are buying an expensive model that has been renovated, it is well worth having the engine, chassis and bodywork inspected properly. Once you have purchased it as seen, there is no going back and claiming afterwards that you have found faulty workmanship. 

Antique cars can give lots of pleasure and enjoyment but it should always be remembered that they are highly prone to breakdown and in constant need of upkeep and repair. Anyone who is under the false illusion that the car will perform as reliably as a model rolling of today’s production line should think again. Older cars were not designed with modern reliable parts and even in their heyday needed much more attention and service work than their modern counterparts of today.