Trying to build up a valuable car collection? A few tips for the first timer
As many members of the Cool Rides Forum will attest, having a hearty collection of valuable antique cars is a fun, but hardly easy venture. Many car owners can hardly perform the proper upkeep to their daily drivers, let alone take care of a valuable hot rod.
If you are looking to get into the collecting game, be prepared to approach it with caution. For starters, choose your first car wisely. While you want to purchase a ride that is valuable to you personally, you have to view your collection as something of a long-term investment. If you have an affinity for the late, great Ford Probe, for example, even the most souped-up Ford Probe isn’t going to demand top dollar on the auction block.
You also don’t want to make the first car you buy the crown jewel of your collection before you have other rides in your stable. Purchase a car that will only get better with age, maybe even a model that right now isn’t considered necessarily a classic, but will gain more value sometime down the road.
The 1987 Buick GNX, for example, is one car that is already highly sought after but is bound to only gain more value as it ages. According to Popular Mechanics, this is one of 10 models that collectors are snatching up in droves, although it is still flying relatively under the radar when it comes to full-on collectibility.
You want your collection to be interesting and diverse, so not every car needs to be a legend. What many collectors do is set a goal for what kind of car they want to have as the star of their collection. As your garage fills up, you can add or subtract from your collection to make space in your garage or even earn some money that can go toward your dream car.
The most important thing is keeping in mind that you’re never going to be done investing in the car that you purchase. Especially with older cars, you’ll need to perform regular upkeep and also be wise about where you store them. You may not have Jay Leno’s garage, but you can at least make the one on your property a neat and safe place for your rides to live.
Also, make sure you actually get a chance to enjoy the rides. There’s no fun in having an extensive collection if you don’t take them out for a spin every once in a while.
Have you built an impressive collection of cars? Share your tips below: