Most cars start losing their value the moment they leave the dealership, depreciating by as much as 20% in the first year and 15% each subsequent year, leaving little resale value for owners.
However, the recent volatility in the auto market, marked by uneven demand, disruptions in the supply chain, and low inventory, has led to some used car models selling for more than their brand-new counterparts’ MSRP.
Despite this unusual trend, it’s crucial to recognize that this situation is temporary. If you’re looking for genuine value in the used car market, vintage models are the way to go.
According to Progressive, certain models are worth considering for investment purposes, particularly those that are unique, rare, or have a dedicated following. These include iconic American vehicles from the 1950s, such as the stylish but fuel-thirsty Cadillac Eldorado, Lincoln Continental, or Ford Thunderbird, as well as reliable classics from British and German manufacturers like Jaguar, Aston Martin, Mercedes, and BMW.
While older Porsches, Ferraris, Corvettes, and high-performance muscle cars from any era usually hold some value, Progressive also recommends more affordable options that can be acquired for under $40,000, such as a 1967 Volkswagen Beetle or a 1970 Chevy Camaro.
Brake For It has compiled a list of classic cars that may appreciate in value, spanning older post-World War II models like the Ford Model T and Duesenberg Model J, timeless classics like early Corvettes, Mustangs, and Shelby Cobras, first-generation off-roaders like the Jeep Wrangler, Ford Bronco, and International Harvester Scout, and unconventional choices like the DeLorean DMC-12 and Buick Riviera Boat Tail.
It’s important to note that the term “classic” no longer solely denotes “old.” One of the best resources for identifying cars on the rise in value is Hagerty’s annual Bull Market List. This list is valuable due to its comprehensive coverage of various vehicle types and its consideration of current collector trends. In fact, six of this year’s listed vehicles were manufactured after 2000. The site also highlights that the 1980s and 1990s are currently in high demand, with well-maintained models fetching premium prices from Generation X and Generation Y collectors.
Here are the ten cars (and one motorcycle, the 1936-1947 Harley-Davidson Knucklehead, priced between $90,300 and $115,000) that Hagerty expects to appreciate in value in 2023. These price ranges pertain to vehicles in excellent condition:
- 1992-2006 AM General Hummer H1 ($105,000-$127,300).
- 1968-1970 AMC AMX ($30,500-$40,600).
- 2008-2015 Audi R8 (Manual)($154,000-$186,700).
- 2001-2004 Chevrolet Corvette Z06 ($31,400-$39,300).
- 2001-2010 Lamborghini Murciélago ($302,700-$342,700).
- 2004-2010 Mercedes-Benz SLR McLaren ($329,300-$380,700).
- 2003-2008 Nissan 350Z ($37,500-$44,900).
- 1985-1993 Saab 900 Turbo ($22,200-$25,800).
- 1991-1998 Suzuki Cappuccino ($12,200-$16,700).
- 1984-1988 Toyota Pickup 4×4 ($20,700-$26,700).”