There’s good news for classic car investors. A recent surge in the classic car collector market means that the value of these vehicles is soaring. Rare classics are currently enjoying a 500 percent plus rise in value that has steadily increased over the past decade.
Historic Auto Group (HAGI), an organization that researches the investment value of classic vehicles, attributes the reason for this tremendous growth to the ratio of buyers versus sellers. Currently, the buyers outnumber the sellers of classics and that is driving up the value.
Other factors that are contributing to this growth in the market are an increase in two lifestyle characteristics that are synonymous with classic and rare car collectors: wealth and collecting. More people are becoming collectors, are being drawn to that lifestyle. Couple that with the global growth of wealth, meaning that more people are becoming wealthier, and you have a recipe for a boom in the market.
There is another aspect of the market that seems to influence collectors. The market is finite. True, as long as time is passing and cars are being manufactured there will be vehicles aging into the classic category. However, there are only so many of each. There are only so many ’67 Barracudas or 1940 Coupes. Rarity breeds demand.
As car collecting has gained popularity, it has become more visible through collector publications and, of course, the internet. The click of a mouse can take even aspiring collectors on a breathtaking journey to explore the histories or some of the rarest, most expensive cars on the planet – and put them in touch with sellers who are ready to make a deal.
If you are ready to make a deal on your classic collector car, Woodside Credit can help. Visit us online at https://www.woodsidecredit.com/collector-car-loans/ and click on “Quick Quote” to find out how easy it is to add that beautiful classic to your collection.