I would like to start this by asking you a question. How is that 401k doing? Why do I ask that? Well, with the economy in the tank and our government standing around doing practically nothing to help, maybe you should think about investing your hard earned money in a collector car. I know, I know, you are saying " Hey Nick, the bottom has dropped out on muscle cars also". This is where the perception in the industry is completely false.
In the industry, we grade cars on a scale of 1-6, 1 being the best and 6 being a car you should send to the scrap heap. Go here, and scroll to the bottom of the page to explain. #1 cars are the smallest amount of collector cars but are the most desireable. They are also the most expensive. Most of the collector cars available that you see on the web fall in the 2-5. Now, I'm not going to tell you that buying a 4 or 5 is going to hold their value or make money. I will say that cars that are in the 2-3 range can definately be a good investment over time. Put it this way, if I buy a 1-3 car tomorrow, 6 months from now it will not tank like your 401k did during the same period.
Here is an example of the perception problem that I get all the time. Let's use this car as an example. This car is a solid 3 leaning more towards a 2 than a 4. It's highly optioned , big block , 4 speed, 12 bolt, etc. The paint work is fresh and beautiful and drives awesome. Plus, this car is NOT what I like to call "edgy", meaning that there aren't a bunch of little issues all over the car. I will have guys that will call me and say " I can get 69 camaros all day long for 20-25 thousand". Well, you probably can but chances are it will come with a bunch of issues which makes it "edgy".
There are alot of 69 camaros out there that can be had for that kind of money. A majority of those have been built saying they are "restored" and are selling for 20-25k. Restored in their minds are they bought a car to fix up, slapped some paint on them, bought some new tires and wheels and bam, they are restored. Reality is they bought the car for 10k, painted the car stuck the wheels and tires on it but didn't fix all of the edgy problems. This makes it a #4 or 5 car making it worth 20k. In my area alone I know of a couple of guys who buy cars just like this so they can turn a profit. I have had a couple in my shop and I can pick them apart as they are pulling in the bay. By the time the guy buys a project, puts a jacked up paint job on it , makes the car driveable and presentable, he already has 18-20 in it. If he were to do it the way we restore cars he would be so barried in it he would go broke after the first car. Trust me, there are more cars out in world like this than I want to even think about.
I hope you are getting the picture. Cars like these are a terrible investment and will cost you more money to straighten out all of the problems than it's worth. Obviously a #1 car is the best investment you can make in a collector car. Are you going to drive such a large investment? I would be too scared that I would scratch it or even worse wreck it. A solid 2 or 3 car will be much more affordable and will go up in value over time. Hey, you also can drive these cars and enjoy them like they should be. Just maintain the car thru the years, don't drive it in the rain or snow and keep it inside.
Do your own homework. Look what's out there and I think, no , I know that you will find out that what I am saying is the reality. Quality collector cars are a solid investment and are alot safer than any stock or mutual fund.
Man my hands hurt from typing. I'll finish by saying that I am a car guy. I love this industry and I want to do it for the rest of my life. I wrote this hoping that atleast one person will read it and get the picture. At Blad Boys we are successful because we are honest hard working people just like you and reputation is all we have. If any of you have any questions even if you are not purchasing or having a car restored by us, shoot me an email and I will gladly help you.
Til next time,
Nick