£15k car to enjoy but hopefully to appreciate
Discussion
Common line of questioning I imagine but here goes!
My dad has agreed to go in with me on a 'modern-classic' purchase, we agreed a modern classic simply due to slightly easier running as neither of us have a great deal of time for tinkering! Budget is £15k, the aim being a car in which we can enjoy 4-5k miles per year and hopefully break even in the shorter term with stronger appreciation longer term; let's say 10% shorter-term appreciation allowing £1,500 annually for tax, & insurance (c.£600), and servicing & repairs (c.£900). The car will be well looked after adn stored in a heated garage with use on clear days and non-salty roads.
I've been around the houses several times and come up with what I see are three viable options:
- TVR Chimaera - Beautiful car, fabulous engine, and £12-15k gets a facelift 400 with refurbed chassis, niggles sorted, good history etc etc so whilst there will be inevitable niggles the big bills should be covered. The resurgence of TVR this year may well spark renewed interest and demand for older cars and the Chim is considered the easiest to live with.
- S1 Elise - Revered car, more of a 'purists' choice than the S2, ageing really well, and a driving experience that's hard to beat so they'll always be sought after. Old enough now to be considered a 'modern classic' and a car few new models can match for purity and basic thrills. £15k get a very well sorted standard S1 with new head-gasket, refreshed suspension, sensible upgrades etc.
- 986 Porsche Boxster - Touted by several magazines as the bargain Porker to buy now and I'd agree that values surely can't drop much more. Quick, reliable, comfortable and easy'ish to look after; £15k get's a mint condition 3.2 'S' with all work done and very good cars are available for £10-£12k. With the new Boxsters moving to a turbo-4 I can see values strengthening.
Other cars that I considered include a 996 911, Alfa Spider, E39 BMW M5, and R107/R129 Merc SL's.
Would value thoughts on the above!
My dad has agreed to go in with me on a 'modern-classic' purchase, we agreed a modern classic simply due to slightly easier running as neither of us have a great deal of time for tinkering! Budget is £15k, the aim being a car in which we can enjoy 4-5k miles per year and hopefully break even in the shorter term with stronger appreciation longer term; let's say 10% shorter-term appreciation allowing £1,500 annually for tax, & insurance (c.£600), and servicing & repairs (c.£900). The car will be well looked after adn stored in a heated garage with use on clear days and non-salty roads.
I've been around the houses several times and come up with what I see are three viable options:
- TVR Chimaera - Beautiful car, fabulous engine, and £12-15k gets a facelift 400 with refurbed chassis, niggles sorted, good history etc etc so whilst there will be inevitable niggles the big bills should be covered. The resurgence of TVR this year may well spark renewed interest and demand for older cars and the Chim is considered the easiest to live with.
- S1 Elise - Revered car, more of a 'purists' choice than the S2, ageing really well, and a driving experience that's hard to beat so they'll always be sought after. Old enough now to be considered a 'modern classic' and a car few new models can match for purity and basic thrills. £15k get a very well sorted standard S1 with new head-gasket, refreshed suspension, sensible upgrades etc.
- 986 Porsche Boxster - Touted by several magazines as the bargain Porker to buy now and I'd agree that values surely can't drop much more. Quick, reliable, comfortable and easy'ish to look after; £15k get's a mint condition 3.2 'S' with all work done and very good cars are available for £10-£12k. With the new Boxsters moving to a turbo-4 I can see values strengthening.
Other cars that I considered include a 996 911, Alfa Spider, E39 BMW M5, and R107/R129 Merc SL's.
Would value thoughts on the above!
Thanks both, both are options I've looked at over the years and I love both cars. I don't think my dad would be keen and a soft-top does appeal, I have two sons and being able to put the roof down and take them (one at a time!) for a spin is great fun. I've grown out of my Jap phase (used to be obsessed with Supra's and had a 350Z and two MX5's, one supercharged) and had a Clio 182 Cup which was fabulous but now I'm getting that bit older my taste is migrating!
Edited by Chuck21 on Friday 11th August 11:28
Edited by Chuck21 on Friday 11th August 11:35
TVR and Lotus I can see as being good buys, both actual classics I'd say and make me look twice.
Porsche, a bit more common for me and whilst a fun involving car I wouldn't put it in the same league as those, and whilst the values of them might not decrease much, surely they can't be a big appreciator can they....
Others to consider:
Z3m? Bit rarer than an M5, and I think they look gorgeous.
Something Jap - decent S2000, R32-34 budget depending, RX7?
Edit - Took too long to reply and just seen that you've done the Jap route
Porsche, a bit more common for me and whilst a fun involving car I wouldn't put it in the same league as those, and whilst the values of them might not decrease much, surely they can't be a big appreciator can they....
Others to consider:
Z3m? Bit rarer than an M5, and I think they look gorgeous.
Something Jap - decent S2000, R32-34 budget depending, RX7?
Edit - Took too long to reply and just seen that you've done the Jap route
WinstonWolf said:
IMO the Griff will appreciate more than the Chim. A little over budget but you might get lucky...
Absolutely true but to get a Griff in the same condition as a £15k Chimp you'd be looking at £20k at the very least and probably more. You could spend £15k on a Griff and be very lucky but more likely you'd hit major bills quite quickly! I also like the touring ability of a Chimp, a little more relaxed, big boot, calmer handling etc but still plenty fast enough with the same lovely noise.Z3M is a fair shout, great engine and I do like the looks. £15k would be a possibly leggy high-miler but I believe they're pretty solid; do we think they're 'on the up' value wise?
840i is a superb car, beautiful GT but very much a tourer, big, automatic, hard-top so less fun to bomb around in on a sunny day, more a leisurely cruise down through France!
840i is a superb car, beautiful GT but very much a tourer, big, automatic, hard-top so less fun to bomb around in on a sunny day, more a leisurely cruise down through France!
Chuck21 said:
WinstonWolf said:
IMO the Griff will appreciate more than the Chim. A little over budget but you might get lucky...
Absolutely true but to get a Griff in the same condition as a £15k Chimp you'd be looking at £20k at the very least and probably more. You could spend £15k on a Griff and be very lucky but more likely you'd hit major bills quite quickly! I also like the touring ability of a Chimp, a little more relaxed, big boot, calmer handling etc but still plenty fast enough with the same lovely noise.bga said:
I would look at the Elise but that's only because I've had the others (and great cars they are too). Speaking from my experience, if you don't have much time in inclination to tinker then a TVR could easily become frustrating, or expensive, to own.
That had crossed my mind! I've seen a few (£12-13k private / £14-16k dealer) with refurbed chassis, refurbed interiors, new cams, trickle charger upgrade etc etc so I'd hope they'd be pretty well sorted but they're 20 year old hand-build cars and all have their own 'characters'! Elise does appeal though, my brother in law had one when they were new and a fried and a Sport135, such good fun! Can you put a child seat in an Elise? Hmmm....I may be biased but the E63 BMW M6 seems to an ideal choice
Firstly it has one of the greatest BMW engines ever built, the likes we may never see again, which is wrapped in an (arguably) better looking body than the E60 M5.
It's also much rarer than the M5.
Furthermore, with the arrival of the 8 series it seems the 6 series could end up being discontinued which, if the previous 6 series is anything to go by, could help the M6 reach future classic status.
Firstly it has one of the greatest BMW engines ever built, the likes we may never see again, which is wrapped in an (arguably) better looking body than the E60 M5.
It's also much rarer than the M5.
Furthermore, with the arrival of the 8 series it seems the 6 series could end up being discontinued which, if the previous 6 series is anything to go by, could help the M6 reach future classic status.
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