Classic Cars

Chances Are You'll Lose Money If You Buy Cars As Investments

But there is a secret to success. You're not going to like it.

Some people have the impression that buying old cars are good investments. In reality, the opposite is true. Sure, some cars, namely Ferrari and other exotic brands, do increase in value and owners have the option of making a nice profit. However, you need to be rich enough in the first place to buy into the Ferrari or whatever brand club. As Rob Ferretti points in this informative video for anyone considering taking the investment car plunge, when a car’s generation dies off, so does the value.

Will it go back up? One day, maybe. There are no guarantees, so the purchase itself is a risk. While one is waiting (rather hoping) for their car’s value to (maybe) appreciate, they’re forced to hold it. Congratulations! This means you need to spend money on regular maintenance and any other issues that may arise.

All the while, you’re losing money on your so-called rolling investment. What about driving your car? You could, assuming it’s running, but then you’ll be freaking out about every mile increase. The point of all this is that in order to make a small fortune when selling a collectible car, you need to start with a big one. As for Ferretti, he’ll be putting his 1,000-hp Toyota Supra up for auction at some undecided event later this winter. Oh, and by the way, just placing a car up for auction, such as this Supra, costs upwards of $7,000 whether the car sells or not.

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