Young drivers are increasingly turning to retro cars as a viable investment strategy, with many hoping these vehicles will appreciate in value over time. Recent research conducted by Cazoo highlights a growing trend among younger petrolheads who view these classic models not only as expressions of identity but also as tangible assets with significant potential.
According to the survey, 27% of Gen Z respondents expressed an interest in purchasing a retro car within the next decade, compared to 19% of Millennials. Moreover, the survey revealed that 68% of participants consider a car’s potential to hold or increase its value as a crucial factor in their buying decisions. Among those viewing cars as investments, an impressive 89% prioritize value retention and appreciation when selecting their next vehicle.
With many younger individuals facing challenges in the housing market, retro cars have emerged as an accessible asset class. They offer a way to invest in something tangible, potentially appreciating in value, while also providing personal enjoyment. Lucy Tugby, Marketing Director at Cazoo, noted, “Cars have always been about freedom and individuality – but for Gen Z, they’ve also become a way to invest in something tangible and lasting.” She emphasized the excitement surrounding the rediscovery of retro models, highlighting both their character and investment potential.
Top Retro Cars for Future Investment
Charlie Harvey, Cazoo’s Motoring Expert and a retro car enthusiast, identified several models that he believes are poised to become future classics.
The **Toyota MR2** stands out as a sporty option that captures the essence of classic driving. Its mid-engine design, typically seen in high-performance vehicles, provides a nimble and engaging driving experience. Currently, it is affordable and relatively easy to maintain, making it an ideal entry point into classic sports car ownership.
Equally iconic, the **Classic Mini**, produced from 1959 to 2000, remains a beloved choice. Known for its cute and playful design, the Mini is not only accessible in terms of purchase price but also benefits from a robust owner community that offers support and spare parts, ensuring that maintenance is manageable.
The **Mazda MX-5** is another contender, originally designed as a straightforward roadster that channels the spirit of classic British sports cars. The early models from the 1990s have now gained classic status, and while still relatively affordable, prices are beginning to rise for the earliest versions.
The **Nissan 300ZX** may not have received as much mainstream attention as other Japanese icons, but it represents a significant technological advancement in its time. While it offers a unique driving experience, potential buyers should be prepared for maintenance costs due to its intricate design.
Another noteworthy option is the **VW Corrado**, a striking coupe from the 1990s that remains rare today. The VR6 variants, which can still be found for around £6,000, are particularly desirable due to their outstanding performance.
The **Ford Fiesta**, a household name for 46 years, has officially entered the realm of history. Many individuals have nostalgic ties to this model, as it often serves as a first car. Sporty editions like the XR2 and RS Turbo are especially sought after, commanding higher prices in today’s market, while more ordinary models continue to be accessible.
The **Honda Prelude**, with its distinctive coupe shape, stands out in a market dominated by SUVs. Interest in classic versions is expected to increase, particularly with Honda reviving the Prelude name for a new model.
Lastly, the **Ford Puma**, originally a Fiesta-based coupe, is celebrated for its excellent handling and stylish design. A solid example can still be acquired for under £4,000, making it an appealing option for those looking to invest in a classic.
As the trend of investing in retro cars continues to gain momentum, younger drivers are reshaping the used-car market. With a blend of nostalgia and potential financial gain, these vehicles are becoming increasingly attractive options for a new generation of car enthusiasts.
