Features

Ask Goodwin - Would you ever buy a car as an investment?

With many classic cars rising rapidly in value, will Goodwin be riding the wave?

Would you ever buy a car as an investment? - Duncan Crabtree, Bristol

No. Firstly, you can be sure that if I got into speculating on classic cars the market would fall through the floor the very next day. I think that’s not far off happening anyway. Did you see the Ford Escort RS Turbo that went under the hammer for 60 grand the other week? That can’t last. We’ve seen the bubble burst before.

But it’s not just the thought of losing money, but the very thought of owning a car just to make money on it. I’m immensely fortunate to have earnt a good living from my love of cars and to start buying them up to make money would be a bit greedy. And then there’s the worry of owning something very valuable. The old 911 that I once owned began to be a bit of a liability and less fun to own the more valuable it became.

Subscribe to evo magazine

Subscribe today to have every issue of evo delivered straight to you. You'll SAVE 39% on the shop price, and get evo for its original cover price for a whole year!

Talking of that car, had I kept that bitsa 911 it would probably be worth almost six figures in today’s market where anything with a 911 badge would appear to be worth more than life itself. Throughout my motoring life cars have floated past my eyes that were once affordable and would now be worth a packet, such as the Dino that was available for £3,500 that I once considered. Most of my regret about not buying such cars years ago is not how much money I could have made, but the fact that I cannot now afford to own them.

In the late 1990s a Surtees TS8 came up for about £18,000 complete with engine. I was recovering from a divorce and had just bought a flat so didn’t have a bean, but I seriously thought about flogging the flat, buying a race transporter with a bunk bed in it and sharing my ‘living room’ with the Surtees. Although I would probably have spanked the car and ended up living in a truck with a load of scrap metal for company.

Advertisement
Advertisement - Article continues below

No, I think I’ll keep fiddling around with old bangers and leave the investing to others.

Ask Goodwin is a weekly column on evo.co.uk by Colin Goodwin, one of the UK's most popular motoring journalists – and one of the early contributors to evo magazine. 

You'd like Colin – he drove an amphibious vehicle across the English channel (it caught fire half way) and he held the Guinness World Record for the highest speed in reverse (104 mph in a Light Car Company Rocket). More recently he drove from England to the Geneva motor show… in a Caterham 160.

Oh, and when he visits the evo office he does so in a plane that he built in his shed…

Check back every week for a new column, and get involved with #askgoodwin either at @askgoodwin (Colin's Twitter) or @evomagazine

Make sure to get involved in the Ask Goodwin debate on our Facebook page here. You can also put your vote in via the poll system found on the evo.co.uk homepage.

Advertisement - Article continues below
Advertisement
Advertisement

Most Popular

Visit/features/17660/the-best-four-cylinder-engines-ever-we-pick-our-favourites
Features

The best four-cylinder engines ever

We've gathered a selection of our very favourite four-pots ever produced
27 May 2020
Visit/bmw/4-series/201608/2020-bmw-4-series-revealed-new-coupe-range-topped-by-369bhp-m440i
BMW 4 Series

2020 BMW 4-series revealed – new coupe range topped by 369bhp M440i

The new 4-series Coupe is bigger, faster and sportier, but that’s not what people are talking about
2 Jun 2020
Visit/used-cars/20402/cheap-fast-cars-2020-the-best-budget-performance-cars-on-the-market
used cars

Cheap fast cars 2020 – the best budget performance cars on the market

The cheap fast car is a wonderful thing, if you buy right and do your research. These are our favourites from £1000 to £10,000
4 Jun 2020
Visit/bentley/mulsanne/202688/bentleys-675-litre-v8-engine-is-no-more-we-pay-homage-with-a-classic-road
Bentley Mulsanne

Bentley’s 6.75-litre V8 engine is no more: we pay homage with a classic road trip

After 61 years of service, the end has come for Bentley’s 6.75-litre V8. To mark the occasion, we take one on a road trip from London to Geneva
3 Jun 2020