If you grew up in the ‘80s, you probably have fond memories of the cars of your youth. If you are interested in adding a nostalgic 1980s car to your collection, it’s important that you make a smart investment. Here are six of the most iconic cars from the 1980s and whether you should buy, sell, or keep them.
BUY: Recently, buyers have been showing more interest in this car and experts predict that this trend will continue. Now is a perfect time to invest in this car as its value is only expected to increase.
BUY: Over the past year, buyer interest has increased by 32%. Almost 40% of recent buyers are Millennials, with these younger buyers appreciating the affordability and practicality of these cars. Buy now before interest in this make and model drives up its price.
SELL: With the market for vintage Maranello cars slowing down, now it the time to sell your Ferrari 308. Interest in and price of these cars have steadily decreased since 2016. So, unload this car now while you can still make a profit.
SELL: After several years of stability, the price of the Cadillac Allante began to drop last year with prices falling another 4% this year. Baby Boomers account for over 85% of buyers and, as this demographic shrinks, so will interest. So, if you have an interested buyer, it’s best to sell now.
KEEP: While prices for the Porsche 944 are steadily increasing, there is still some room for growth. After a brief decline in 2016, interest is beginning to build again, so wait a bit before you sell.
KEEP: While the C4 Corvette isn’t the most popular, prices and interest for this model remains steady. As major fluctuations are not expected, you might as well hold onto this car and just drive it yourself.
Here are some of the most iconic cars from the 1980s and whether you should buy, sell, or keep them. No matter what you decide to do, it’s important that your classic cars have the right auto insurance protections in place. For assistance with your car coverage needs, contact the professionals at Mike Leonard Insurance Agency. Our dedicated team is eager to find you the right coverage from one of our many carriers including: Kemper, MetLife, Nationwide, Travelers, The Hartford, Safeco Insurance, Progressive, and American Strategic Insurance.