An Investment in your Muscle Car! Who Would Have Thought?
October 5, 2012
There was a time (not that any of us can remember that far back, of course) when you could’ve picked up a fixer-upper muscle car for a triple-figure price — $425, maybe.
But depending on what you’re after, you could easily add three more figures to that total if you’re looking to buy classic cars now, Total Car Score (TCS) reports. And all three of those figures would likely be zeros.
Yup, two of TCS’s top 10 classic muscle cars(the rare 1969 Chevy Camaro with the ZL 1 option ranked first, while the ’71 Plymouth Hemi ’Cuda ranked second) are worth up to $425,000 today.
Kicking yourself for letting go of that old Mustang of yours now? We know the feeling.
Fact is, muscle cars are turning out to be a terrific investment. And even if the current prices sound a little breathtaking, the trend is still pointing upward.
“We’re seeing a general rise in auction and listing prices of classic muscle cars as market interest in these models picks up,” TCS’s editor in chief, Karl Brauer, tells the New York Daily News. “Rare older models, in original or properly restored condition, are increasing in value even as the general economy continues to struggle.”
Not all of TCS’s top muscle car picks are valued quite that high, of course. Half could be had for less than $100,000, and the No. 10 car — the 1970 Oldsmobile 442 W-30 — weighs in at $35,000, less than many well-equipped newer (yet decidedly less stylish) rides.
In a few years, though, that Olds could be worth a trunkful more.
So forget all those lectures your parents gave you about blowing money on chrome and carbs. Buying classic cars might just be more sensible than stowing away stocks at this point.
If your interested in kickin’ some tires or desire the car you coveted in high school, be sure to come check out the Pomona Swap Meet & Classic Car Show. If you can’t find what you are looking for, try the Pomona Classifieds, who knows, you might just find your long gone dream car there.