You're a fast reader, aren't you?
To most DeLorean owners (and would be owners) the rise in values is old news. Check out this chart with the values from the NADA Classic, Collectible and Exotic Cars Price Guide.
To me, what is more interesting from this chart is that it clearly illustrates that better cars not only cost more (which is common sense) but also that the better cars have increased more in value, as well.
That's where The Illustrated Buyer's Guide to DeLorean Automobiles comes into play. Buying smarter by being educated about what you are considering purchasing makes it more likely you won't unknowingly buy a car in that "red line" zone on the chart above. Yes, you will pay more but if you are educated, you will get a better car, and in the long run, better cars cost less to own/maintain and if cared for, increase in value by a larger margin.
But what about buying a car in the yellow/red zone and fixing it up? Mostly it depends on the car you start with and your mechanical skills (or budget if you don't have the skills or time). How much of what needs to be done can you really do correctly by yourself? It's even more important to be aware of what you are buying here. As the cars get older, they don't get any better, or less expensive to repair. Prices for parts, labor, shop supplies typically always go up, very rarely do they go down.
Remember the keys:
- Educate yourself - knowing good from bad saves you money in the long run.
- Photos are nice, but no substitute for an in-person inspection.
- If it seems to good to be true, it probably is.
Until next time - enjoy your summer and reach out if you have any questions!