Bitcoin seemed to be the buzzword of late 2017 and even now, it still presents a prominent presence. However, let’s not forget about one type of investment that is far cooler and safer than bitcoin…classic cars!
That’s right, we think classic cars are great investments and in many ways, far superior to spending money on cryptocurrencies like Bitcoin. So, let us try to convince you why you should start saving for an ugly, old and smelly Volvo instead of splashing out on digital currency that you can’t even touch, let alone drive!
Firstly, let’s just talk about the sheer freedom you have when it comes to choosing a classic car that will be a sensible long-term investment. If you don’t want to commit to thousands of pounds, there are cheap cars like the Mercedes 190E and the Citroen AX GT that you can buy for under £1,500.
On the other side of the spectrum, you’ve got classic sports cars such as the Alfa Romeo Spider that will cost you around £20,00 or an old Porsche 911 that could cost you from £30,000 – £100,000+ depending on what you’re looking for.
There are thousands of classic cars out there that are appreciating in value as you read this. You can choose from all sorts of shapes, sizes, colours and manufacturers, with each car offering a unique driving experience.
On the other hand, with cryptocurrencies like Bitcoin, what variation do you get? Whether it’s Bitcoin, Litecoin, Ethereum, Zcash or Ripple, all you get is the same nice chart on your PC screen and the constant feeling of stress and worry.
What depth is there to investing in cryptocurrencies other than it increasing or decreasing? Whereas with classic cars, you drive them, you clean them, you maintain them, you go to classic car shows, you have days out in them and so much more.
Some argue that investing in Bitcoin is actually safer. After all, so many things can go wrong with cars. The constant cost of maintaining them such as new tyres, MOTs, breakdowns, minor paint jobs, insurance, road tax, services and of course, air fresheners to cover up the constant smell of old leather and fuel. Although there are a lot of variables with cars, at least you can understand them.
Even professional traders cannot predict how the market will behave accurately after years of experience, but with cars, you know exactly what will happen if you drive over that pothole, or if you decide to redline it at every traffic light.
So, what’s worse, the market crashing, or crashing your classic car? We like to think that classic cars are a much better alternative investment, but of course, being car enthusiasts, it’s probably a biased opinion! Let us know your thoughts on the matter!