If you haven't read the recent article on Hagerty.com about rising DeLorean values, it's worth a read. Then come back here and get my thoughts on it...I'll wait.
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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.
.
.
.
.
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.
As you can see, the increases really started about the time John DeLorean passed away in 2005, peaking just before the great recession. Since then, values have steadily risen to the point they are today. Some have pointed to the 2015 "Back to the Future" day events causing an increase (that the data doesn't really support) and some speculate that the recent rise is due to the two DeLorean films recently released. That has certainly brought about greater interest from outside the core group of DeLorean buyers and enthusiasts, I'd bet.
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:
Until next time - enjoy your summer and reach out if you have any questions!
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!
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