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What Makes a Car a Good Investment?
Generally, cars depreciate in value the minute we drive them off the lot and continue that trend the more they are used. However, this is not the case with all cars. Some have characteristics that help them maintain value or build over time. These cars make good investments.
Determining Your Custom Car’s True Value
28% of US drivers modify and customize their vehicles each year. These upgrades range from new floor mats to body kits. Some modifications increase the value of the vehicles, while others are purely for the enjoyment of the owners.
How do you know the difference?
Is Your Vehicle an Asset?
While it’s true that new car value drops as soon as the car is driven off the lot and are considered pure expenditures, there are several classes of vehicles that are often considered as accruing investments / assets.
Two of these emerging asset classes include: Classic and Custom / Modified