If you’ve held on to a certain car, SUV, hatchback or truck from the 1980s or 1990s, you may want to keep it — and check Hagerty's Classic Car Value Guide to learn if it's become a collector vehicle. A number of special edition vehicles and popular models manufactured in these decades have reached collectible status or may soon do so.
Collectible cars have long been considered mostly early-model vehicles with historical and aesthetic value, such as a 1930s Ford Model A or a restored muscle car from the 1960s. But with an upsurge in car collecting lately, collectors have also been looking to newer models.
The increased interest in collectibles is partly due to more classic car enthusiasts joining the ranks of collectors. At the same time, investors are buying collectible cars because of their potential to rise in value.
Is your teenage dream car an emerging classic?
Much of the reason for the potential collectability of these cars can simply be chalked up to time. Nostalgia is an important factor turning some cars from the 1980s and 1990s into collectibles. Anyone who grew up in this era will typically be more familiar with these cars and may have fond connections to them regardless of performance ability. Buying a now-classic model of the first car you ever drove or owned can lead to certain sought-after cars achieving collectible status.
The coupe you drove in college might now be eligible for classic coverage. If you're considering buying your dream car back, check with your agent. If you plan to use the car sparingly, keep it in a secure location and have a primary daily driver, we might well be able to insure your former dream car as a modern classic.
Joining the ranks
Here are a few newer cars from that era that are considered collectible:
- The Ford Mustang GT from the early to mid-1980s lacks some of the muscle of its original 1960s version, but for a teenager from that era, the sporty runabout was fun to drive and more powerful than many other 1980s cars.
- The Ford Bronco was a beloved sports utility vehicle before the term "SUV" became common terminology. The Bronco's nostalgic ruggedness, coupled with the fact that it was once the only small four-wheel drive vehicle with a V8 engine, made it a hit with car fans of yesteryear and collectors today.
- The Chevrolet Camaro was another popular icon of the times. The carmaker offered numerous factory special packages and after-market upgrades, while equipment availability could vary regionally, adding to the collectability of some models.
Some car enthusiasts say that a small inventory can also ensure that a car becomes a collectable. Collectors often look for models released in limited editions by automakers. The rarity of some models, especially with performance auto brands, has pushed the prices of certain cars well beyond their original cost.
Novelty is another reason a newer car may become collectable. A groundbreaking car, such as the first generation of a pioneering hybrid vehicle, can significantly increase in value over time.
For automakers that have ceased to exist, such as Oldsmobile and Saab, models from their last year of production may become valuable to fans of those brands. For car collectors, it's akin to owning a bit of history and notoriety, similar to the DeLorean and its huge jump in collectability since it was discontinued.
Whatever present or future classic car you may own, it's vital to fully protect your investment with the proper insurance. Find out how classic and antique car insurance can offer protection catered to your emerging classic vehicle’s needs.