Rare Antique

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Frequently Asked Questions...

What car should I buy? I just inherited about 200 thousand dollars?

and want to invest in a car that will guarantee a profit in 10 yrs . Should I buy a rare antique car or should I buy a new ferrari and hope to sell for profit ?


Best Answer...

Answer:

Don't do it.

First of all, $200,000 is not going to buy you an investment-grade Ferrari. Any Ferrari you buy for that price will eat you alive in repair and restoration cost.

On anything else automotive, unless you are a seasoned car collector, or have spent a year studying the cars and the market, you WILL get burned. Cars are NOT good investments.

Even if you found a good candidate and got it at a bargain price, storage, maintenance, and insurance would eat up any appreciation you might get. And just sitting, a car deteriorates. Ten years from now the critics will look at it and describe it to potential buyers as "older restoration needing freshening."

If you want a nice car to enjoy, that's one thing. Go find a nice Certified Used BMW M3, put a small down payment on it, and have a ball. Put the rest in a good interest bearing account, and it will more than pay the monthly payment, and you will still have your money.

I came into a similar amount, and found an investment at 7% interest, and got a credit union loan for 4.75%. I'm money ahead.

But I counsel you, DO NOT buy a car expecting to make money on it.