If you are thinking of investing, it is unlikely that you would look for a “classic” car first.
However, research by Vanarama has found that the value of an average affordable classic car increases 97 percent (£ 14,416) over a decade.
As part of their analysis, Vanarama analyzed 15 affordable classic cars (models that cost less than £ 15,000) and tracked their value between 2010 and 2020 using data from classic car specialist Hagerty.
This then revealed the top 10 classic cars to make a profit on in your garage:
Best performing of all models was the stunning 1961 Volvo P1800, which has increased in value by £ 21,569 over the past 10 years.
In second place is the 1983 Land Rover Defender 110. If you buy it for an average price of £ 13,697, you should make a whopping £ 15,464 profit in 10 years.
The all-time favorite, the Volkswagen Beetle came in third, doubling its value by £ 10,285, while the legendary 1968 Ford Mustang GT followed closely with a profit of £ 9,884.
To highlight the profit potential, Vanarama also compared classic cars with traditional investments:
- Shares + 107 percent
- Classic cars +97 percent
- British real estate + 50 percent
- Art +49 percent
- Gold +45 percent
- Average UK savings account + 3 percent
Have you invested in a classic car? Let us know in the comments if you have what make and model.