We love cars, but are they a good investment? Should you dump your stock portfolio and plan to use classic cars for your retirement? Why do so many wealthy people invest in cars? These questions and questions like them are all over the internet, but is it a good idea to buy an automobile now to hope you can sell it for a large profit at a later date?
The answer to if cars are a good investment is more complex than it may first appear. We know that with a few exceptions a modern car will keep depreciating for about 30 years and in some cases longer. However, normally after this depreciation values will start to stabilize and then follow an upward trend.
We are less than a month away from when we make our yearly pilgrimage to automotive Mecca. Monterey Car Week will be the place to be if you are an automotive enthusiast. From historic cars racing at Laguna Seca to car shows and auctions, the week has it all with everything leading up to the Pebble Beach Concours d’Elegance.
One of the auction houses that will be in Monterey is Mecum. They will be offering over 600 collector cars including some very special Porsches, Ferraris, Lamborghinis and Corvettes.
Porsche versus Ferrari. It’s a rivalry that has existed for over 50 years. Italy versus Germany.
The roots of the competition between the two storied brands started on the race track. In the 1960’s Ferrari was already a household name as the maker of some of the greatest racing machines in the world. Famously Enzo Ferrari is quoted as saying they they build road cars to finance their racing efforts. Even today the prancing horse is huge in the racing world, both in GT endurance racing and Formula One.
Porsche on the other hand started with a much simpler machine. Cars like the 356 at first shared many parts with the Volkswagen Type 1 (a.k.a. Bug). Ferdinand Porsche was the designer of the Type 1, so the fact that the car company bearing his last name would share much in common with the VW is not surprising. Porsche has always done more with less and while they have often had less power in their cars, compared to the competition, they have managed to take home many racing wins.
The end of the year is just weeks away, so it is no surprise to see most publications naming their car of the year. evo is no exception and the U.K. based publication had the difficult task of testing each machine on some beautiful back roads.
For the location they chose some of the best back roads in Scotland. For the cars they had a range of supercars, sports cars, muscle cars and hot hatches. Let’s just say that work has never seemed less like work.