How Much is my Collector's Car Worth?

Significance

Owning a valuable collectible car is like having money in the bank. The value only goes up over time. Certain cars do not depreciate. Other cars' values are all over the charts depending on what is popular that particular year.

Types

Some of the more popular collectible cars that do not lose their worth are 1967-69 Chevrolet Camaros, 1966-72 Chevrolet Novas and 1966-69 Chevelles. Chevrolet put out an SS model on all three of these cars. The SS models are worth a lot more than the plain models. Other popular cars that seem to hold their value are Ford Mustangs and certain Oldsmobiles. These cars were the more affordable cars during their time. Of course, there are cars such as the Chevrolet Corvette -- this car from the years 1964 through 1969 does not lose its value and is very difficult to find.

Time Frame

Some cars' values rise with age, if they are original cars and not kit cars. '32 Fords are extremely expensive -- if you can even find a real one. The '57 Chevy is another timeless classic that will never go down in value. This collectible also is very difficult to find and can cost upwards of $80,000 to $100,000.

Geography

Collectible cars are found all over the United States. Sometimes they can be found in old farm fields in the mid-South just rusting away. Sometimes, no matter what part of the country, a collectible car can be found just sitting in a garage -- maybe a son owned it and never came home from a war, and the parents just could not sell the car at the time.

Features

The right collectible cars can bring enjoyment to the family. When restored back to its original luster, a collectible car can be shown off at cars shows to win trophies, it can be entered in parades or it can be driven daily. Since it holds its value, you can borrow money from a bank on the title of the car, especially if it is not driven daily. The bank knows what these cars are worth. Should you default on a loan, the car is theirs.

Considerations

If you find a car that you think is worth something, check before you buy. There are many places to find the value of the old car, including NADAGuides.com and Edmunds.com (see Resources). A collector's car's worth depends on the year, make and model of the car. Some collectible cars are worth more than others and some are worth no money, but have sentimental value for the owner. The older the car, the more value it has if it is the right year, make and model. Four-door cars generally are not worth as much as two-door cars.