Hagerty Insurance warns early '70s Dodge Challengers won't be affordable to collectors much longer.
Have an urge to put something classic in your garage – perhaps something that also might gain a little value in the years ahead?
America has long had a love affair with the automobile, and that’s all the more obvious when you realize how many folks collect cars. It can be an expensive hobby, especially if you’re looking for something truly rare and exotic. On the other hand, maybe you’re just looking for something relatively common that just has a personal meaning.
Every year, the folks at Hagerty Insurance come up with a list of their picks for the best classic cars to buy in the year ahead. The list for 2017 focuses on cars that, “are poised to be strong investments in terms of value growth and smiles-per-dollar.
“One of the most exciting trends emerging is younger enthusiasts driving interest in newer vehicles,” adds Hagerty CEO McKeel Hagerty. “Well-preserved vehicles from the 1980s and even the 1990s – some from long-term ownership – will continue to come to market as demand increases.”
Some might not think of $2.3 million as "affordable," but as classic Ferraris go, this Enzo is still gettable.
(U.S. car sales expected to set another record in 2016. Click Here for the story.)
The Hagerty list has something for everyone, whether you’re operating on a budget or have some deep pockets. There are domestics muscle cars and imported sports cars, even an SUV on the top 10 list:
1) 2000-2006 BMW M3 ($20,000) – BMW’s earlier M cars have been blazing hot during the past three years and newer offerings are still much more expensive, which makes the E46 M3 coupe particularly attractive.
2) 1997-2004 Chevrolet Corvette ($15,000)– The C5 brought dramatic change to the Corvette, the first really world-class model, yet still affordable. The high-performance Z06 is expected to show the biggest gains.
The Toyota Supra is now a sought-after vehicle.
3) 1971-1972 Dodge Challenger ($18,300) – Good looking, powerful, a couple years ago you’d have struggled to find one at a budget price, but muscle cars crashed in 2008 and are just beginning to regain their value.
4) 1968-1970 Dodge Charger ($26,100)– Another great buy if you’re looking for a classic muscle car, though prices have been rising fast and are likely going to continue to rise.
5) 2003-2006 Dodge Viper ($50,000) – “If there is a theme to this list, it’s adrenaline, and the Dodge Viper delivers,” says Hagerty. Early Vipers are already serious collectibles and newer models should follow.
Once considered dinosaurs, Ford Broncos from 1966-77 are now popular among collectors.
6) 2003 Ferrari Enzo ($2,300,000) – Here’s one that requires a fat checkbook to own. But what could be a better investment – and more fun to drive – than an extremely rare, incredibly fast Ferrari?
7) 1966-1977 Ford Bronco ($18,500) – This boxy ‘70’s-era SUV helped win over a generation of first-time ute buyers and it’s clicking with young enthusiasts who want something truly classic. Values are rising fast.
8) 1970 Plymouth Superbird ($233,000) – With their exaggerated length and cartoonish rear spoiler, the Plymouth Superbird is off-putting to some, but interest in Mopars is reviving and the Superbird is one of the apex cars of the era, Hagerty says.
9) 2007-2011 Porsche 911 GT3 RS ($180,000) – With incredible power and an eye-catching design, the GT3 has become an extremely popular addition to higher-end collections. Look for a combination of unusual options and colors.
10) 1993-1998 Toyota Supra Turbo ($40,000) – This twin-turbo monster was one of the fastest relatively mainstream cars of its day. They’re a good way to get into collecting, especially one with a rare manual gearbox.
(To see more about gas prices continuing to rise, Click Here.)