Classic cars are beautiful, fun, and super cool. They're also really bad investments unless you're way into the hobby aspect of it.
Photo by Jeremy.
If you're like me and daydream about cruising the streets in some classic American muscle, it might be time to crush that dream. According to Kyle Stock at Bloomberg Business, there's rarely any money to gain in the vintage car game. On the open market, classic car prices have been static for almost eight years; with most prices dipping if there's any movement at all. Not to mention the fact that actually driving a vintage car can be a major hassle. They use more gas, don't handle as well, cost more to repair, and have significantly less safety features.
That being said, if you're a serious collector or hobbyist, do what makes you happy. Still, Stock recommends at least sticking to German and Italian brands if you want to try and retain any value. You can read more about classic car economics at the link below.
Stop Kidding Yourself. A Classic Car Is (Almost) Never a Good Investment [Bloomberg Business]