Cashback Classics

These project cars can potentially repay all the dosh you put into them. Here’s how...

We show you the classics that form the basis of a wise investment.

Everyday classics are starting to make bigger money, but you can still pick one up for a sensible price. The opportunity lies in the growing gulf in values between shiny examples and projects. If bought needing work, the five classics we’ve selected here (after much discussion) will obviously cost significantly less than the equivalent price for a Condition 1 car – and with a gap large enough to fund plenty of improvements. So buy smart and use your skills to have a classic that you can really enjoy and be proud of, with the option that you could then sell it to pay for the work done and come out of the deal cash neutral – perhaps with a pot of funds for the next step up the ladder.

The opportunities are there, because classics are so often sold when work is needed or on the horizon and the owner either lacks the skills or inclination to get stuck in. If you can bring those elements to the party, you can be onto a winner.

The key to success is doing plenty of research, knowing your own limitations, and avoiding anything with big-ticket issues. Unless you are skilled trimmer or very handy with a spraygun, avoid cars that need a complete repaint or retrim. Look for cars where you can add value with graft rather than gloss. Mot-failing rot can be terminally daunting and expensive for those without welding skills, but most of the bill will be for time, so simply use your own.

The same can apply to a lot of mechanical work – blown head gaskets, noisy gearboxes or axles. All can be dealt with quite affordably by the grubby-fingered enthusiast with some spannertwirling and sourcing of good used parts.

Just be sure to soak yourself in knowledge about a particular model before diving in – that means