First, a bit of context, I:
- am 28 years old and single, no kids
- have been working as an engineer since may 2013
- have a full shop (no paint booth) and some experience as a mechanic (also my father is a mechanic)
- have some experience in flipping cars
- live in an appartment in my parents barn (not the wooden type, and at this point it’s more a house + storage facility) for a moderate rent
- don’t really have other hobbies other than wrenching and my dog
- and thus I don’t spend really much money
I live near the French-German border and speak both languages, so in the past I have bought several cars in Germany to drive them for some time and resell them in France (there is a bigger turnover in Germany, so car prices are generally lower). It all started with a 1992 Peugeot 205 CTI, which I bought for 200€, made some minor repairs, got a French title, and sold for 900€. After that I got another 205 CTI, a 306 cabriolet, a CRX del sol, a RX-8 (which I crashed before selling) a Mégane II RS, an A4, a 307 CC, a second RX-8 (which I kept), a Mazda 6, and a second A4 (which is for sale at the moment). Most of those were driven for about 2 months and resold with profit.
My rules until now have always been to never buy new, never get a loan, and never buy a car that I don’t like (and thus, always manuals).
My current line-up is:
1989 Peugeot 505 2.5 turbo diesel (that I won’t sell, ever)
1987 Mitsubishi Pajero SWB 2.5 turbo diesel (same thing)
2004 Mazda RX-8 (rebuilt and street ported, every time I think about selling it I take it for a spin and forget what I was thinking)
2006 Audi A4 1.9 TDI (for sale)
I have seen most of these cars as fun “short time invests”. Now that I was able to put some money to the side over the time and it’s idling on my bank account I am thinking about a medium to long time invest. Since I have no kids and no girlfriend, I have no use for a house right now. And since those things don’t happen really fast, I could buy something cool in the meantime and ditch it if necessary in 2-3 years. Also, I don’t see myself as a landlord, so no real estate.
I have been looking at different classic cars over the years. My dream car has always been a 59 corvette, red on red with white coves, classic. But there are 2 things holding me back: my fear that the car is way worse than I imagine, and the fact I won’t be able to resell it when the time is right.
I know there have been plenty of articles about cars as an investment, and I have read most of them. But I don’t really know what to do now, let my money idle on a bank account or take the risk to invest in a classic car.
If so, what car? And in what condition? Something I can drive, or something I’ll just store and wait?
I considered a NSX, but finding a manual one in stock condition and not putting too many miles on it will be tough. I considered an Alpine A110, but I couldn’t even drive it (I’m 1,95 m / 6'5" tall). I considered a classic 911, but I want something more original. I considered an Alfa Romeo Montreal but it’s Italian, so it could burst into flames as soon as I turn my back on it.
So I ask the Oppoverse (Opposphere? Oppoworld?): what’s your opinion, and what should I buy and nag about for the next years?