Should I Buy a Classic Car as an Investment?

If you’ve been around the collector car hobby long enough, you have heard the canned response that most of us give to the above question and that is Buy What You Like and not what you think you can make money on. If you don’t buy a car for the enjoyment, then what’s the purpose?
Buying a car as an investment changes the dynamic of ownership. Want to head to the shore for the weekend in the investment car? Better not as something could happen on the way. If buying as an investment, do you really know and understand the market and its changing tides? What if a major component fails? Is that factored into the potential selling price, or does it put you under water? Older cars usually require upkeep and maintenance and if doing it for the love of the car, doesn’t nearly factor in as much as it does when you’re in the “profit” mindset. It is not free to own a classic even if you pay cash. You still need to transport, store, insure, and keep it running and maybe do a few minor upgrades to the car. If profit is your only motivator, it will certainly have an effect on how you approach all the aforementioned items and when you have to factor all the costs in, including interest on your money, did you really even make a profit?
Truth is…buy the new golf club, eat the cake, have another glass of wine, enjoy your classic car…the point is to enjoy our short time in this world and don’t make your hobby a burden! Most people find that enjoying a particular car for an indeterminate amount of time and then selling it for close to what you paid is all the satisfaction they need. Then it’s on to the next treasure to enjoy…not making a business out of.
If you happen to make a profit when you do sell your classic, then you are required by the Classic Car Regulatory Committee (doesn’t actually exist, but Classic Auto Mall can help) to immediately go out and find another treasure to celebrate your good fortune!