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Dave_H

Dave_H

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How well does a classic British car like a TR3 hold its value? I mean, if I bought a nice one today for a certain price, only drove it on sunny days and kept it in nice shape I assume it would increase in value over the next 10, 15 years?

Also, what's insurance for a classic car like this going to cost me? Not a daily driver, just something to take out on nice days. Is there special insurance for this type if use? Thanks guys!! Hmmm, are there any gals on this board?? /ubbthreads/images/graemlins/blush.gif
 
Question #1: I would reckon, in my opinion, that most if not all classic cars will at the very least hold their value and perhaps gain value if it's the right kind of car. This is assuming you paid the right price for a nice example, also some of the exotic cars will tend to see some fluctations in value (anyone remember the classic car price crash a few years ago? I think the late-1980's...)

Question #2: As for insurance, I believe everywhere in North America collector car insurance can be purchased for a very reasonable cost, a friend here in Calgary pays $75 for a full year of collectors insurance on his car. Merits/demerits of collector insurance... there was a thread kicking around awhile back that discussed this topic, just do a search of old topics.

Question #3: There are actually quite a few gals around here on BCF, some very active ones
 
My guess would be...

Worst case, with a TR3 you're looking at a slight increase in value. Triumphs are currently reasonably priced, and I can imagine their value decreasing.

As for insurance... I have Hagerty collectro car insurance. I don't recall the exact amount, but I'me pretty sure it's less than $200 per year. I've never had to file a claim, so I can't vouch for their actual claim service.

Kurtis
 
Don't know about insurance, but in 1985 I got a '59 AH 3000 parts car for $500.00 with a zero hour rebuilt motor to go with my '67 AH MKIII (which I got for $3000.00 a couple of months earlier). Without doing anything to them I now have at least seen my cars value go to $12000. It would be difficult to not at least break even if you choose well and care for your LBC. Should you decide to sell a few years later, remember that they will have become more of a classic as they arn't making them anymore!
 
Good questions, Dave. Just remember that buying an LBC should never be considered an investment. There's no guarantee that the values will increase significantly, especially when inflation is taken into account.

A good rule of thumb is the stock market. Consider the market value of almost any LBC 10, 20, 30, 40 years ago compared to the same amount of money invested in blue chip stocks -- no contest.

Plus, these cars are prone to accidents, rust, etc.

It's not generally a good idea to view the purchase of your LBC as any kind of investment. Buy the car for the love or fun of it and you'll do fine!
 
The base value of a TR6 has doubled in the last ten years. Will it continue? Certainly not at that rate. Twenty years after production ceased on the TR6, a junker went for essentially free, a driveable example sold for maybe $1500 and a really nice car went for 3K. Now, a parts car has value, fixer-upper maybe 4 thou, and a pristine TR6 will bring 12-18 thousand. That, of course is more than double. But, it won't increase - just hold. Buy the TR you want and ENJOY!

Bill
 
[ QUOTE ]
There are actually quite a few gals around here on BCF, some very active ones

[/ QUOTE ]

What exactly does that mean????? /ubbthreads/images/graemlins/grin.gif /ubbthreads/images/graemlins/grin.gif /ubbthreads/images/graemlins/grin.gif /ubbthreads/images/graemlins/grin.gif /ubbthreads/images/graemlins/grin.gif
 
[ QUOTE ]
It's not generally a good idea to view the purchase of your LBC as any kind of investment. Buy the car for the love or fun of it and you'll do fine!

[/ QUOTE ]

Right, but would it be safe to say they will do better than a current car which depreciates the moment you drive it off the lot?

BTW, excuse my newbieness...but what does LBC stand for? /ubbthreads/images/graemlins/confused.gif
 
Yes Dave, it would be safe to say that a TR3, for instance will be a safe bet to appreciate in value. As to how much, I would have to read chicken entrails or tea leaves to come up with that.
LBC = Little British Car.

Jeff
 
I was amazed to find Hagarty Insurance, where my premiums are $85.00 per year. As long as there is another car for each registered driver, you store the car in a garage, etc., their rates are great!

No, I don't work for them... just glad I found them! I had my prior LBC insured with State Farm, where it was about $600 per year! /ubbthreads/images/graemlins/nonod.gif

www.hagarty.com.
 
A well purchased TR3 will increase in value at slightly above, or just right at the level of inflation. Tragically, the TR3 price surge has passed.

If you buy an absolutely beautiful one for $12,500 or so, it will continue to be worth that and more. Buy well -- like many of us do, and you can buy a great 3 for under $10K and have someone offer you $15,000 for it within the first year. (Last weekend, someone offered me $16K for a car I paid less than $10K for last year...if I thought he had the money right then and there, I probably would have rushed home and gotten the title!)

It's all about buying someone else's restoration, and getting them while they are motivated. If you are patient, you can drive a TR3 for free (buy it, and sell it when you're ready and make a profit.) In fact, you can pretty much do it with any car if you're patient and smart about what cars are really worth.

As for insurance -- there are three primary collector car insurers: Haggerty, American Collectors Insurance (www.americancollectorsins.com) and Grundy. I use ACI, and they have treated me very well (especially when my '59 TR3 was under two feet of water in Tropical Storm Allison.) It costs about $100 per vehicle I have covered on the policy. Some are less, some are more. (Depends on value.)
 
That link takes me to an employment agency???

Whasssup wit dat?
 
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