How to buy a classic car | CNBC Reports

How to buy a classic car | CNBC Reports

Nothing like driving a vintage car. I wouldn’t know though. But I can look at a lot of vintage cars here at City Concours. This one will set you back a million quid. Why do you love classic cars? There’s something about the sound, obviously the looks of these things, it’s a very emotive experience when you see them. You should start with something you love, something you’re passionate about, something that resonates with your youth, something that you grew up with, the poster on the wall. Because everybody has a preference, whether it’s race or road, whether it’s a Lamborghini, a Ferrari or a Porsche. A car is something you can enjoy. You can get in it and drive it, you can drive down a country lane with a smile on your face. It’s a good investment. So these cars are going up in value by the day. The big thing is guys have done really well. You know that guys have made a lot of money out of the appreciation of their cars and that’s set to continue. Look for quality, look for scarcity, A unique car, a car with history, a car with provenance. Authenticity is absolutely at the heart of a car investment. You have to be careful what you buy. You know, some people can get stung because obviously they’re going to buy something that’s a bit of a heap of junk underneath the bonnet. A general service on this car in particular is about £650. Now I’ve got a modern Volkswagen that costs me almost £400. You know, you don’t have to spend thousands and thousands for ownership of these cars. So this is my favorite car at City Concours, the Jaguar 1955 XK 140. Back in the day people were a little bit smaller. I actually need to get my other leg in. Oh yeah, feels really nice in here. One thing you’ve got to look at when you get into a car like this is your gearstick. I mean look how tiny that is. Even the handbrake is sort of toy sized, and the rear view mirror looks like it could snap any minute. But it won’t. It’s not the most expensive car, it’s about £185,000. And the color? Jaguar Caviar. There’s some really nice cars here. Sure. Your favorite is that one? Yeah, there’s a long nose D-Type over there that won Le Mans, so that’s one of the world’s great cars. There’s some great production cars, there’s some great race cars, there’s a lot of nice cars around, a lot of good people around, it’s a really nice day. This is my Ferrari 365 GT4 Berlinetta Boxer. It’s one of 58 right hand drive cars to come into the UK. Out of these three, which one is your most expensive? Well, the most expensive one is the Ferrari in the centre. It’s because it is a very rare car. It’s one of only a few produced in right hand drive. It’s also pretty much brand new. Rolls-Royce produced this car to prove that Rolls-Royce built the best cars in the world, so this is a Rolls-Royce Silver Ghost and it was built for the London to Edinburgh race. And this is, believe it or not, a sports version of the Silver Ghost. And it won in 1911 with a car very similar to this one and proved itself to be the best car in the world.

About the Author: Michael Flood


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