There’s nothing that beats that “new car” smell — except if you accurately predict that your new car will smell like money in 40 years.
In the vast majority of cases, new vehicles are money losers, or a depreciating asset if you want a fancier term, for the buyer. However, there are a few vehicles that beat the odds and increase in value over time.
Case in point: the 1971 Plymouth Barracuda convertible. The ‘Cuda featured a drop top and a 426 Hemi all for $4,296 when it debuted more than 45 years ago. Now it’s valued at $2.5 million, a 58,000% increase in value over time, according to Black Book, which provides up-to-date pricing information for classic cars.
Another model that many are wishing they’d spent the money on decades ago is the 1967 Shelby Cobra 427. It rolled out of showrooms for $7,500 and now boasts a present-day value of $1.3 million, a 17,000% increase.
(Muscle cars rule again! Click Here for the story.)
Black Book compiled a list of other popular models with what they cost new, current value and the percentage increase over the years. They include:
- 1971 Pontiac GTO Judge Convertible/$4,070/$225,000/5,400%
- 1948 Chrysler New Yorker Town & Country Hardtop/$2,725/$140,000/5,000%
- 1968 Porsche 911 Coupe/$6,490/$250,000/3,800%
- 1959 Cadillac Eldorado Biarritz Convertible/$7,400/$270,000/3500%
- 1967 Chevrolet Corvette 427/435hp Convertible/$4,677/$165,000/3,400%
- 1968 Dodge Charger R/T Hemi 426 Coupe/$3,937/$135,000/3,300%
- 1957 Pontiac Bonneville Convertible/$5,782/$175,000/2,900%
- 1969 Chevrolet Camaro Z28 Coupe/$3,184/$95,000/2,900%
- 1957 Ford Thunderbird Convertible/$3,408/$85,000/2,400%
- 1965 Ford Mustang GT 289/271hp Convertible/$3,156/$68,500/2,100%
“What makes a car a collectible over time includes any number of factors that include popularity, pop culture, and production volume,” said Eric Lawrence, director of Specialty Products at Black Book.
Black Book attends wholesale vehicle and specialty vehicle auctions around the country each day and week, recording and publishing valuations in real time for a variety of automotive professionals.
(Click Here to see why muscle car sales are rising.)
“Many people think today’s uber-expensive vehicles always came with a hefty price tag, but these vehicles show that’s clearly not the case.”
In case the aforementioned vehicles inspire a run to a nearby new car dealer, Black Book also put together a list current vehicles that may replicate similar returns in the decades ahead, including:
- Ford Mustang Shelby GT350
- Ford Mustang Shelby GT350R
- Dodge Charger Hellcat
- Dodge Challenger Hellcat
- Chevrolet Camaro ZL1
- Alfa Romeo 4C
- Chevrolet SS Sedan
- Dodge Viper SRT (base, GT, GTS, ACR)
- Nissan 370Z Nismo
“There are a number of criteria we’ve tracked over the years that feed into the growth of valuation in a collectible vehicle,” Lawrence said. “Uniqueness of style, production level, and pop cultural usage and references all play a factor. Some of today’s vehicles listed here are similar in style to those that were once affordable everyday cars that eventually became collectibles.”
Not surprisingly, many of the names the current list are repeats from the original “big return” set of vehicles, but there are no guarantees. One similarity between the two is the lack of foreign cars.
(Click Here for details on the Mustang Shelby 350GT.)
There was just one on the original, the 1968 Porsche 911 Coupe, and there are two in the new group, the Alfa Romeo 4C and Nissan 370Z Nismo.
Of course, the cars worth zillions of future dollars must be kept for 30 or 40 years in temperature-controlled conditions, with original parts and not (or rarely) driven. There were probably about a dozen of those super-valuable (Hemi Barracuda, etc.) collector cars built in the first place, helping to add to the value.
What about the 1957 Chevrolet Belair Convertible? Or the Chev. Nomad Wagon? Think they’re missing some of the better ones!
My Alfa Romeo 4C coupe is a lot more fun than my 401K plan.