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Keep your Classic Close

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It’s every boy’s dream to one day own a high-performance car, but it’s every man’s ambition to have a classic car parked in the garage. And after a decade of sustained growth, investing in classic and vintage cars is no longer the risk it once was, with the global market now running into billions of pounds. Classic cars are increasingly being seen as a sound and sensible investment” explained Mark Walker, Head of Sales at Close Brothers’ Leasing division. "They’ve outperformed more traditional investments, including equities, fine art, watches and real estate."

Keep your classic close

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There are only a finite number of vintage cars and with ‘barn finds’ becoming far less common, demand is outstripping supply. Add to that the global growth we’re seeing with investors from new markets showing strong interest, it’s easy to see the appeal of classic cars.”

According to a recent report by insurer Footman James, the increase in classic car values in recent years is attracting more to invest. It claims one in five of those it polled were considering buying a classic and three in five who had bought one said low returns on their savings encouraged them to take the plunge.

Take for example classic marques like Ferrari and Porsche – these returned their owners 10.95% and 19.81% respectively in 2015.

But even more modest classics, for example the Peugeot 205 GTI and Morris Traveller have also all risen by more than a third in value. They join a collection of expensive but potentially achievable classics such as the Jaguar E-Type, Austin Healey 3000, Porsche 911 and Fiat Dino on the list.

“We’re currently operating in a historically low interest rate environment,” continued Mark, explaining the rise in returns. “The traditional financial market is also not as stable as it used to be, while globally there has been large increases in personal wealth.”