4 Classic Cars That Make Great Investments

In my three and a half decades of car ownership, I have almost always opted to drive an older vehicle with character rather than something new with lots of modern bells and whistles. My roster of vehicles owned includes Jeep CJ5s and CJ7s from between 1976 and 1979, a 1978 4x4 International Harvester Scout, a 1976 Jeep Wagoneer, a 1964 Plymouth Valiant convertible, a 1984 XJ Jeep Cherokee, and three '80s and '90s YJ Wranglers. While it's not quite old or distinctive enough to be considered a true "classic," my current vehicle — a 1999 Nissan Pathfinder — is now a quarter of a century past its date of manufacture. 

Buying and selling so many classic cars has given me a strong grasp of how classic car values can fluctuate, and which models should be high on anyone's shopping list once they have decided an older car is for them. Older cars aren't only fun to drive and easy to work on; they often provide a healthy return on your original investment. Here are a few classics that might help put some extra money in your pocket along with the inevitable smile on your face. 

 [Featured image by Greg Gjerdingen via Wikimedia Commons | Cropped and scaled | CC-BY 2.0]

The John Delorean-designed Pontiac GTO helped usher in the muscle car era when it debuted in 1964, and the first generation version that ran through 1967 has remained a favorite of collectors ever since. It began as a Tempest LeMans with Pontiac's 389-cubic-inch V8 as an upgrade over the base 300-inch powerplant. Pontiac sold more than 32,000 GTOs in the model's first year, and by 1966, when the GTO became a standalone model, that figure had nearly tripled. The first-generation GTO's high sales numbers are the only thing keeping its price reasonable, as collectors are quick to purchase any of these cars that are in good shape.

As of this writing, Classic.com listed 562 first-gen GTOs sold in the past five years, with an average price of $59,701. If you have that kind of cash laying around and can find a GTO for sale near you, it's a good idea to snatch it up before someone else beats you to it. In the last six months, the average going price for a 1964-67 GTO jumped to nearly $63,900, and there's every reason to believe that upward trend will continue.   

[Featured image by Greg Gjerdingen via Wikimedia Commons | Cropped and scaled | CC-BY 2.0] 

Now in its eighth generation, the Chevrolet Corvette is a sports car icon. However, the third generation that ran from 1968 through 1982 featured some extra special editions that are bound to increase in value. These sleek, gorgeous specimens include the rare and valuable L89, an option package that was selected by just 16 buyers when it debuted on the C2 1967 Corvette. It featured the racing-oriented cylinder heads from the L88 'Vettes mounted on a 427-cubic-inch L71 engine with three Holley 2300 two-barrel carburetors feeding it fuel. The aluminum heads and intake manifol took 75 pounds off the L89's front end, giving it better balance and a low center of gravity. 

The L89 package was carried over to the C3 the next year, with production increasing to 624 units. For 1969, only 390 'Vettes got the L89 package. The 1967's extreme rarity makes it darn near impossible to find a fair market value for that vintage, but if you come across one, our advice is to take a couple mortgages out on your house, sell a kidney or two, and pick it up. The '68 and '69 L89s are a little more accessible, with Classic.com reporting 10 sales over the past five years at an average price of $164,650 as of this writing. They seem to be appreciating rapidly, though: In the past six months, the average price has spiked to more than $189,000. 

Another classic car model that has jumped significantly in value in recent months is the third-generation Cadillac Eldorado, which includes the 1957 and 1958 model years. The Eldorado was offered in three body styles, each with a different submodel badge. Coupes like the one above were known as Sevilles, four-door sedans were Broughams, and convertible models were badged as the Biarritz. Only 400 of these 1957 Broughams were built, so snatch one up if you come across one. 

More than five times that many Sevilles were produced, with roughly 1,800 BIarritz convertibles produced in 1957 and 3,000 models built in 1958. That dwarfed the 304 Broughams and 855 Sevilles made that year. As of this writing, Classic.com listsed 101 third-generation Eldorado sales in the past five years at an average price of a bit over $108,000. In the last six months, that average leapt to almost $132,500, marking a sharp upward trend for this stylish and luxurious classic.  

[Featured image by GTHO via Wikimedia Commons | Cropped and scaled | CC-BY 4.0]

It may not be quite as fast or rare as an L89 Corvette or have the space-age design of a third-generation Eldorado, but the 1984 50th Anniversary edition of the Nissan 300ZX is plenty special in its own right. It was issued to mark Nissan's golden anniversary, getting gold-trimmed wheels and badges, including a "turbo" emblem beneath the door sills. Under the hood was a 3.0-liter V6 that produced 200 horsepower and 227 pound-feet of torque. There was more special edition badging on the seats and floor mats, and the digital dashboard had an LED speedometer and tachometer, as well as a G-force meter to add to the fighter jet feeling. 

Nissan sent just 5,148 50th Anniversary 300ZXs to the United States and another 300 to Canada, and this model has jumped quite a bit in value over the past few years. As of this writing, Classic.com listed 21 special edition ZX models sold in the past five years, at an average price of just over $22,000. In the last six months, though, only three have changed hands, and those went for an average of nearly $44,000. One even sold in January 2024 for $80,000.

[Featured image by Kazyakuruma via Wikimedia Commons | Cropped and scaled | CC-BY 4.0]