Often cars lose a significant amount of value when they are driven off the lot, but some, like a fine wine, are worth more as they age. Could you have a future collectible in your garage?
Cars are an expensive item to own, and new ones actually lose a significant amount of value as soon as they are driven off the lot. But there are some that, like a fine wine, are worth more with age.
Likely you will never create a car collection that comes close to rivaling Jay Leno’s famed one, but a single car could be within your reach — especially if you purchase it now, before it becomes a collectible.
Insurance company Hagerty specializes in classic cars and each year its Hot List names the 10 new car models that are likely to be collectible within the next 25 years.
“Most new car news focuses on the latest interactive technology, alternative power sources, and the race to increased efficiency,” McKeel Hagerty, president and chief executive officer of Hagerty, said in a statement. “But for a car to be collectible in the future, it has to be cool right off the assembly line. A collectible car has to grab you and not let you go.”
Cars on this year’s Hagerty Hot List need to be a 2014 model and priced below $100,000. Some of the cars on the list may seem little ordinary for a list of collectibles, but others deliver exotic looks and names unlikely to be found on the roads, typically.
So what’s in your garage?
10. Ford Fiesta ST
By far the cheapest car on the list, the Fiesta ST is the little brother of the Ford Focus ST and is attracting young buyers.
“The Fiesta looks, sounds and acts the part of a modern-day enthusiast’s car,” according to the Hagerty Hot List.
9. Jeep Wrangler Rubicon X
According to Hagerty, vintage SUVs are the fastest growing collector segment, and Jeep already leads the pack. Many Rubicons compete at events, meaning they are highly capable and will likely one day be seen at vintage off-road demonstrations.
8. Dodge Challenger Shaker
The Challenger Shaker is based on the Challenger R/T/ Classic, but this model’s black hood scoop shakes (hence the car’s name) when the engine is idling. Numerous cosmetic medications set the Shaker apart from other models, according to JD Power.
7. Nissan 370Z NISMO
The Nissan Z series already has a following and not only is the 370Z NISMO the latest, but Hagerty believes it is the greatest. Plus, Japanese cars are becoming its own class of collectibles.
6. Chevrolet Corvette
It’s no surprise to see a Corvette on the list as these cars are already the most popularly collected vehicle in the U.S. The new model is a mix of Corvette heritage and technology.
“Dollar for dollar this is the best performance buy on the market,” according to the Hagerty website.
Last year the Chevrolet Corvette Convertible 427 (with a price tag of $75,935) made the list.
5. Alfa Romeo 4C
This Italian sports car is a two-seater—one that Italian car enthusiasts have been waiting for. The car is lightweight, powerful and distinctively designed. Hagerty defines the car as a “budget-friendly Italian sports car.” As unlikely as that is.
4. Maserati Ghibli S Q4
This version of the Ghibli has four doors and plenty of power. Considered an “entry-level” the Maserati sedan is making the Italian automaker a fast-growing brand, according to JD Power.
3. Chevrolet COPO Camaro
Chevrolet is the only company with two cars on the Hot List, and the Camaro is a regular entrant. A Camaro model car has been on the Hot List for five years running now.
The COPO Camaro is a guaranteed collectible since there are only 69 units and the first model was sold at auction.
2. BMW M5 Sedan
In 2000 the BMW M Roadster and in 2011 the BMW 335IS landed spots in the Hot List. The M5 is old school with a manual transmission that is “quickly becoming extinct,” according to the Hot List.
“While more drivers shun the thought of using three pedals, we applaud BMW for keeping this option alive in this segment,” according to the Hagerty website.
1. Jaguar F-Type R
The British marquee just makes the list with a price close to the cut off. Acceleration to 60 mph takes just four seconds, according to JD Power.