Hey Scotty, I watched your recent video “Here’s what a corvette looks like after 24 years,” and that got me thinking. So if I bought a corvette like that and kept it in good condition for 5 or so years, would I then be able to sell it as a vintage car for a good profit?
Probably, if most of it is still stock & the bodywork is rust free.
But with COVID, who knows what the market is gonna be, 5 yrs from now?!
Never buy a modern car as an investment. They all lose money. If you bought the car, you would be lucky to break even. C4 Corvette values have been on the slide for a long time.
@mod_man
I mean like an old corvette from the 90’s. Scotty just made a video on this. When I look at prices of 1993 some of them are 7k price range, but any years before that the price goes to 30-40k. That is why I am curious about this.
Chevy made literally thousands of C4 model Corvettes. They are not investment vehicles. Unless, as Scotty said, you have a Corvette that is a 1 of 1, or 1 of 10, they are not collectible. He mentions in the video that the collectable cars are already super expensive. Modern cars will never appreciate like classic cars. If you value your money, do not buy it for profit. Buy it to have some fun and that's it.
The cars that tend to go up in value are cars that are rare, pricey cars that become even more expensive. Buy yourself a Corvette, which is affordable because there are thousands and thousands out there, enjoy it and take care of it, and you can have fun at a reasonable cost.
Take the money that you would have spent to buy something that will likely appreciate in 5 years (an XKE, air-cooled Porsche or the like) and put it into mutual funds. Then in 5 years you will be able to buy a 5 year old mid-engine Corvette.
I d buy gold bars rather than cars these days
