Classic cars ... Good or Bad ?

[Sensei 12]

Got a good friend who owns a K plate Ford Cortina 2000E .. its in Roman bronze with the vinyl rood and cream interior .. hes had it for a good 12yrs now and it has a genuine 81.000 miles .. he bought it for £2000 and as done some nice resto work to get it to the standard now as hes always been into the classic scene etc .. i saw him today where he always mentions on selling if the price was right

 

he told me good genuine examples like his car can command up to £5000 which to me seems a little steep but hey ive never took much notice of Mk3 Cortinas

 

Just wondering if anyone has traded in the classic market (Good or Bad) or would you dip your toes in a classic car are they worth it? .. then again when do you call a car classic anyway as many say after 25yrs old ?? 

[Ken 10]

Have you looked in to where you would stand on if something goes wrong with the car after 2 months or so? It could be a money pit I feel! You would have to make a decent margin on it just in case you got a comeback.

 

Do you have dealer portal? If so, enter the reg of the car and mileage and have a look at the other adverts if any for that kind of car. You can also see on there the advert age. This should give you an indication if you're going to get stuck with it or not.

 

Ken

Got a good friend who owns a K plate Ford Cortina 2000E .. its in Roman bronze with the vinyl rood and cream interior .. hes had it for a good 12yrs now and it has a genuine 81.000 miles .. he bought it for £2000 and as done some nice resto work to get it to the standard now as hes always been into the classic scene etc .. i saw him today where he always mentions on selling if the price was right

 

he told me good genuine examples like his car can command up to £5000 which to me seems a little steep but hey ive never took much notice of Mk3 Cortinas

 

Just wondering if anyone has traded in the classic market (Good or Bad) or would you dip your toes in a classic car are they worth it? .. then again when do you call a car classic anyway as many say after 25yrs old ?? 

[Wheelerdealer1 91]

Classics are a tough sell, the margins only tell half the story, most of these classic dealers have specialist workshops attached with guys who really know these old cars inside out

[Andy Entwistle 96]

Like WD says, Classics can make you a lot of cash, BUT ONLY if you know your market and what you are looking at. Thats why these guys are specialists, they know the difference between a genuine Mexico and a very good copy and whats a bargain and a banger...

 

I have made good money on classics in the past, but only one the stuff i know inside out.

 

If you want to dabble. Pick a model you like and research it properly, try with a couple and see how it goes, but be prepared to make some mistakes (for make mistakes see "how to lose money")