Classic cars of the future: Some owners have earned up to £6,000 over the past year

Classic cars of the future: Some owners have earned up to £6,000 over the past year

Classic cars are one of the biggest investments on the market with older models becoming more valuable as less remain on the road. Experts at Hagerty have analysed market valuation data and insurance quotes and policies looking for indicators that cars are rising in value or increasing in demand.

The UK Hagerty Guide also tracks auction results and private sales to ensure drivers are fully informed of the potential values of vehicles.

Jon Mayhead, head of Hagerty UK Valuations said: “The Hagerty valuation team tracks many thousands of cars every year, but these really stood out.

“It’s a wonderfully diverse list that offers cars that are accessible to many enthusiasts.

“Although changes in the value of a classic car may be far from an enthusiast’s mind, these cars may offer the chance for some of their ownership costs to be offset if they rise in value as predicted.”

READ MORE: Europe’s largest classic car collection will ‘keep growing’

Renault 5 GT Turbo

Hagerty says hot hatches are the modern classic cars of the moment with values of the most popular models soaring on the market.

However, one of the most powerful hot hatches is still available at a fair price with experts predicting massive growth over the next few years.

The Renault 5 GT Turbo was valid at just £9,300 last year but has since risen to just under £13,000 with “significant potential” to climb further.

Land Rover Discovery Series 1

Values of two and four-door classic Range Rovers have rocketed over the past few years meaning it’s only time until the Series 1 follows suit.

The model was valid at £8,500 last year but has since soared to £9,800 in a 15 percent increase.

However, one model went for an eye-watering £12,320 during an auction in June showing that the car has the potential to wow collectors.

1961 Mini Cooper

Values for Mini Cooper models have been increasing in value over the past few years but a special anniversary next year could see prices soar.

The 60th birthday celebrations of the mark 1 Austin/MNorris Mini Cooper means collectors will have their eye on a piece of history.

Experts at Hagerty says the first 997cc model seems undervalued with prices at just £24,100.

Values have jot increased love the past 2 months but with just 1,000 chassis made, the model is a “very collectable classic” with big potential.

Published at Tue, 08 Dec 2020 10:18:00 +0000