It’s not often you hear about investing in cars or buying cars to add to your wealth . In fact, most finance experts will agree that cars depreciate over time and are typically not good investments.
Of course, there are exceptions, and you can make a pretty penny on a few vehicles on the market today — and for years to come. Here are five rides to consider investing in to build wealth .
When we talk about building wealth with cars, we can refer to two distinct situations. First, you might buy a car that would typically be expensive, but it needs work. Once you invest money in the car by fixing it up, it will make you a profit.
This situation is called “car flipping,” and while we’re not addressing that specifically here, it could work with any of the cars we’re talking about.
The second situation where you can build wealth with cars is by buying a classic or collectible. A collectible car is one that increases in value over time because collectors consider it valuable. These cars are typically going to be much older vehicles, at least 40 to 50 years old, that are in good condition today, and were often released in limited edition.
1. Collectible Porsche 356
The Porsche 356 was the first vehicle made under the Porsche name in 1948, and was an instant success. There were limited cars released, in a few different versions, over the following 17 years. Those cars remain in high demand today, across generations.
The average price of a 356 is $165,344 today, so if you can find one for less expensive, potentially a fixer-upper, it’s a great investment.
There are a couple of Chevy Corvettes that are considered classics. Specifically, the 1969 Corvette Roadster sells for up to $59,000 in good condition, and the 1962 Fuelie C1 Corvette sells for up to $100,000.
Both of these cars would be worth investing in if you could get them for less than top dollar and hold onto them.
3. Collectible Shelby Mustang
When Ford introduced the Shelby Mustang — not just a muscle car but also a fast race car meant to speed around a track and handle well — the American auto market exploded. And that first Mustang Shelby has only gotten more valuable over time.
Known for its high performance, excellent handling, and sleek styling, the 1967 Shelby GT500 has sold for as much as $2,200,000. The average sale price puts it well over $100,000. It’s a reliable investment for sure, and it’s fun to work on if you’re a gearhead.
4. Classic 1970 Dodge Challenger
The Challenger was Dodge’s answer to Ford’s Shelby Mustang and Chevy’s Impala. In 1970, Dodge released this muscle car and it has remained a classic ever since. It has sold for as much as $559,995, with the average price hovering around $80,000. It’s loud, proud, and it’s a beast of a car compared to its competitors.
It would be a fun purchase, especially if you can get one to fix up and restore.
5. Aston Martin Valkyrie
Perhaps one of the most exclusive cars on the market, the Aston Martin is the height of luxury and elusiveness. Popular British celebrities often drive these cars as they evoke feelings of English poshness. The company prides itself on never producing enough units to lower the vehicle’s value, and they’ve made a strong decision.
The Valkyrie starts at $3 million and goes up from there. The least expensive models are the newer ones. The 2024 DB11 sells for about $217,000, and that’s a steal. You will likely never have to worry about losing money with this car.
The Bottom Line
In the end, there are many cars you can buy that will either increase your wealth over time or help you become more wealthy because you don’t have to spend a ton of money on maintenance and new purchases. Whether you buy a collectible, an exclusive, limited edition or a classic muscle car, take your time deciding.
You’ll want to do your research, have a mechanic check the car and consider your long-term goals. In the end, the right investment for you could make you thousands, while the wrong one could cost you.
Truth is most cars are poor investments. Best to buy what you like. If it is worth something later then fine. If not you have a car you love. Tech stock and land are better investments.
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