Last week, Driving ran a story that named nine classic cars loved by Millennials—otherwise known as “cars no one else wants, but the cash-strapped can afford.” It was an interesting list ranging from some decent choices (Volkswagen’s spunky little Golf Mk5; and the ’92 to 2000 Subaru Impreza) to the worst AMG ever made, the W211 E55; and Mitsubishi’s ’95 to ’99 Eclipse, which has virtually nothing to recommend it other than that it appeared in TheFast and Furious, which, let’s be honest, really isn’t a recommendation at all, is it?
The data that matters — that which literally makes the classic-car market — is part of this week’s annual Hagerty Bull Market list. A compendium of the top cars the company “expects to increase in value over the next year,” Bull Market cars are determined by looking for the growth in the company’s auction sales, as well as insurance quotes and endorsements, this last particularly important since the data is based on the actual amount people are insuring their cars for.
Of particular note is that, as per Hagerty, “quotes coming from younger buyers tells us a car is likely to have strong demand in the future,” which means that, though the demographic may be similar, this is list of all the cars that are going to appreciate in value, while those on the cars-Millennials-love list are likely to remain bottom-feeders (it really is hard to believe that 2003 to 2009 AMG E55s will ever increase in value).
So, without further ado, here is Hagerty’s list of cars that are worth stretching your buck for now because they’re going to be worth something in the future.
1978 to 1983 Datsun 280Z
“Like so many things as they age, the Datsun 280ZX got a little slower and heavier than the earlier Z cars, ultimately becoming more of a grand tourer and less of a sports car,” says Hagerty. That said, it benefited from Bosch fuel injection — I once had the misfortune of trying to tune a 240Z’s triple SU carburetors, which were as diabolical a device as ever fitted to an internal-combustion engine. The later turbocharged versions are the most sought after, and are now going for about US$32,000, an increase of 138% since just 2019. Hagerty’s VP of Automotive Intelligence, Brian Rabold, thinks there’s still room to grow.
1981 to 1983 DeLorean DMC-12
This one would seem like the ultimate duh! of automotive investment, the world-famous DeLorean benefiting from immense exposure — hell, it was the star of the show — in one of Hollywood’s biggest blockbusters. Right now, they’re worth USD$75,100 (presumably held back by the truly awful Peugeot-Renault-Volvo [PRV] V6 that DeLorean saddled them with) but that’s still up 73% since 2019.
How much they appreciate from here probably depends on whether — if seems like more of an “if” than a “when” — Michael J. Fox ever gets a lifetime achievement award. For what it’s worth, I can that from having driven both of Hagerty’s top two contenders (actually, I’ve driven all but two of this entire list) if you’re more into driving than posing, the Datsun is the far better bet.
1961 to ’64 Jaguar E-Type Si 3.8 Coupe
Ostensibly another duh! moment, Hagerty actually says the most famous of all Jags has actually decreased in value over the last three years, but that “that has brought them within reach of a new generation of enthusiasts.” Hagerty says that amongst Gen Xers — who now dwarf Boomers in their interest in classic cars — interest has increased by some 8% in the past year, and the company expects values to rebound accordingly.
The original XK inline-six engine — of which I’ve driven a fair few — is perhaps the best internal-combustion engine of the ‘50s and ‘60s, modern enough in its original design that it remained in production until 1992. The USD$182,800 that Hagerty says they are worth today make the E-Type the most expensive car on this list, but it’s still something of a bargain compared to what it might have fetched a decade ago.
2003 to 2013 Lamborghini Gallardo 6-speed
I gotta admit that I don’t get this one. The Gallardo, six-speed or otherwise, isn’t the dog the Mercedes W211 E55 might be, but, as Hagerty admits, though it has appreciated 7% since 2019, “it significantly trails other Lamborghinis’ appreciation during that time.” The company says this growing gap makes it a great time to grab a Gallardo. Maybe as an investment, but as a driver, it’ll probably be a disappointment.
2005 to 2008 Dodge Magnum SRT-8
Depending on your taste in cars, this is either the best or worst car on this list. Blessed with a 425-horsepower 6.1-litre “Hemi” V8, it’s also more than a little pudgy, softly suspended, and doesn’t handle worth a damn. In other words, the perfect ride for an American traditionalist. If you’re amongst the latter, then its USD$32,600 price will prove attractive, and since it’s gained 39% over the last five years, it probably has momentum for further appreciation.
1961 to 1972 Volvo P1800
A sleeper amongst all classic cars, Hagerty says you’ll need just USD$44,200 to get behind one of these. The prettiest Volvo of all time in either coupe or ‘estate’ guise, the P1800 stands out as comely in any crowd. And though it’s not particularly fast — early editions had but 100 hp — P1800s are supremely reliable, with New York-based enthusiast Irv Gordon now claiming he’s logged no fewer than 3.2 million miles on his since 1966. It’s a looker and a driver, in other words, which makes the P1800 a heckuva buy, and the car on this list I would shop were I looking for a classic.
1976 to 1989 Ferrari 400/412
I am not sure about Hagerty’s contention that the 400’s “design has aged impeccably well,” but it does boast a Colombo V12 (even if it’s mated to a GM three-speed automatic transmission). But as Hagerty says, though its value has edged up some 50% since 2019, its USD$59,900 average price still makes it “the last affordable Enzo-era Ferrari.” Grab one while you can, ‘cause they aren’t going to get cheaper.
2002 to 2006 Mini Cooper S
Definitely a tout to the Gen X crowd, the Mini Cooper S is a barrel of fun. It’s got a perky supercharged 1.6-litre four, almost telepathic handling, and an interior that will bring a smile to your face no matter how many times you’ve been behind the wheel. It will also, if you get a bad one, put you in the poor house with expensive repairs.
Hagerty says they’re worth USD$12,000, but I’d want a complete service history before I’d fork over that much for one. They’ve appreciated just 4% over the last five years, so Hagerty thinks their “value proposition is too good to last.”
1997 to 2001 Honda Prelude
This one probably should have been on both this and the Millennial-faves list, the fifth-gen Prelude being a sleeper amongst Hondas. Decent handling, excellent reliability, and great value make it the Volvo P1800 for younger generations. Hagerty’s insurance data says the average Prelude owner is 13 years younger than “the typical enthusiast.” That tells me there’s hope for the young yet.
2002 to 2008 Mercedes-Benz G500
That the G500 is on this list is a bit of a surprise. Not because I don’t think it’s desirable. The opposite: I assumed it was already overpriced. But Hagerty says that $53,200 will get you behind the wheel of the first Gelandewagen sold in North America. Considering what they go for now, that’s a bargain.
Be warned: it drives like a truck, and, despite its utilitarian shape and massive profile, it has all the interior room of a modern subcompact. But damn, they look the business. Hagerty says there’s been a fair few come across its auction block of late, but that prices haven’t suffered. It’s hard to imagine losing money on a G-wagon.
1984 to 1990 Ford Bronco II
The immediate predecessor to the Explorer, Ford’s “mini-ute” is, at USD$15,600, the second-cheapest car here. It’s on this list, Hagerty says, because 38% of buyer interest comes from Gen Xers and Millennials, which the company says promises “sustained demand.”
The 2.8L version of the Cologne V6 was carbureted, so it made a few less horses than the later 2.9 with Bosch fuel injection, but it was probably more reliable. Stay away from the Mitsubishi-sourced 2.3-litre turbodiesel, as it was slow and awkward. Indeed, it’s a little odd that this car is listed as an investment, because it was pretty much an afterthought when it was produced, its raison d’etre that it was easy to build off the Ranger platform. The three-door wagon shape seems to have aged well, though.
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