There is a new online tool that identifies the cars that are appreciating and could become future collectors’ items.
Valuations firm HPI has devised the Future Classics Car Value Tool which uses real-time data to generate live vehicle values based on average advertising prices. Tracking hundreds of thousands of used car adverts, the tool analyses the makes and models that are rising in value and could possibly make a good investment for the future.
Mark Barrett, international data science and analytics manager for HPI, says: “Using the wealth of used car advert data available, we are able to present real-time values of cars based on average advert prices, so buyers and sellers know how a particular car is performing in the market. This also enables trends to be mapped, so it’s possible to see if cars are going up or down in price.”
Users of the tool can select a budget between £6,000 and £155,000 and an average valuation is instantly shown.
Some cars that have already been tipped to be rising in value include:
- Vauxhall VX220 Turbo
- Porsche Boxster Spyder
- BMW 1M
- Ferrari 599
- Fiat Coupe Turbo
Whilst many people love classic cars for their unique traits and personality, it’s no surprise that others have an interest in making money. But the tool offers no guarantees and it would be unwise to put all your eggs in one car!
Even with the use of technology and data tracking, it could be argued that intuition still plays a big role in the world of classic cars. Others within the industry are looking at the more “everyday” cars of today rather than the flashy models that could garner the most interest in the future. For example, an original model Toyota Prius or Ford Focus. The first of the new generation Minis, on a “Y” requisition prefix from around the year 2000, are also already attracting a following.
