The dreaded word ‘depreciation’ is something not enough of us take into account when we buy our cars.
The dreaded word ‘depreciation’ is something not enough of us take into account when we buy our cars. Sometimes the opportunity to shop around and make the most economically sensible purchase for your next car isn’t always practicable. A lot of us don’t have the luxury of planning our next purchase—it is suddenly pushed upon us, either through a prang, a large bill or other factors. Frequently we have to buy whatever we can afford in a very short space of time to keep working and living. School runs, shopping, errands—they all become doubly important when you are off the road, and each day that goes by without wheels can drive you desperately towards the first car that is available.
But is it possible, with a little bit of planning, to buy something which could prove a classic of the future? BCA (British Car Auctions) have set out to try and advise buyers of potential cars that might become future classics.
Older examples from iconic British manufacturers such as Jaguar and MG have always tempted classic car buyers and are likely to do so in the future, but its spotting the future bargains that interests the most.
BCA’s Tim Naylor reckons we should keep an eye on the likes of the coupes and convertibles. Current models such as the Peugeot 206 CC, Ford Street Ka and the Quattro Sport version of the Audi TT, could all gain cult classic status. The fun-loving Mini also demands a good prices. The Toyota MR2 and MG RV8, MGF and MGTF are also contenders.
However, you have to be realistic and bear in mind that 99.99% of cars depreciate, and this applies from the highest priced luxury marques to the humble family runabout. So a 1990 Ford Fiesta LX is not exactly going to set the world of car auctions alight!