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Buying cars, we’re told, is a poor way to spend your money. Conventional wisdom says that cars depreciate, while money spent on stocks, bonds, and real estate usually grows over time. At least it did, prior to the new economy we find ourselves in these days. If there’s a lesson to be learned from the doom and gloom we hear on the news it’s this: life is short, so you might as well enjoy what you have while you have it.
Ask several people what they’d consider to be a collectible car, and you’re bound to get a host of different answers. Of course Porsches, Ferraris and Corvettes will make the list, as will Duesenberg and Packard. Those choices may be obvious, but they’re also expensive to buy and maintain. Surely there are cars that are semi-affordable that have the potential to appreciate in value, while still being enjoyable as weekend drivers, aren’t there?
You’re in luck, because below are five cars that I’ll call “future collectibles.” All can be driven today, and all (in my opinion) will represent a solid investment somewhere down the line.
2011 Chevrolet Volt
Aside from being the most politically polarizing car in the history of the United States, the Volt has the distinction of being the first mass-produced serial hybrid of the modern age. Despite what you may hear on the news, the Volt has more in common with diesel-electric locomotives than it does with “conventional” parallel hybrids like the Toyota Prius. The Volt won’t appreciate overnight, so I’d look at this as a long term investment that just happens to be an entertaining daily driver.
1989–1997 Mazda MX-5 Miata
How can a mass-produced Japanese sports car be considered collectible? Easy—the first generation Miata redefined what a sports car should be, and introduced thousands of drivers to the joy of topless motoring and rev-matched downshifts. Clean first generation cars are getting harder and harder to find, since many have been turned into race cars. Parts are cheap, they’re easy to maintain and repair and will run forever if you keep up with them. My advice is to find the cleanest car you can with the fewest modifications from stock; in five or ten years, you’ll be glad you did.
2009 Pontiac Solstice GXP Coupe
I don’t buy into the Pontiac Solstice or the Saturn Sky as collector cars, but the Solstice GXP Coupe is the exception to that rule. Pontiac didn’t build many of the oddly-styled removable-roof coupes, and they were on sale for less than one year. Most are in the hands of collectors already, but if you can find a clean private party example that’s not outrageously priced, buy it.
1984–1986 Ford Mustang SVO
In 1984, Ford’s Mustang SVO predicted the future we’re heading towards. Rather than making power from a large-displacement V-8, the Mustang SVO made power from a turbocharged, 2.3-liter four-cylinder engine. That made the Mustang lighter, and it also gave the car a much better front-to-rear weight balance, which is critical for good handling. Look for Ford to release a similar car in 2014, which will only drive up interest in the original SVO.
2006–2007 Dodge Magnum SRT-8
Almost universally unloved when they were in production, the Magnum SRT-8 is best described as a hot-rod station wagon. I’ve lapped Daytona in one, and the car is utterly composed at speeds that would make most sane drivers cringe. It’s roomy, it’s fast and it handles better than anything weighing nearly 4,300 pounds should. Avoid the non-SRT8 models, which probably won’t go anywhere in value.
As with any investment, buying a potentially collectible car has risks. It’s possible they won’t appreciate, but I’d be willing to bet that after a day behind the wheel of one of these cars you won’t care. The best investments, after all, are ones we can enjoy on a daily basis.
Photo Credits: Kurt Ernst