BLATANT SELF PROMOTION WARNING...I drove this 66 Chev Impala 2-door hardtop home today.
You may remember its restoration featured in one of my posts in early June. It is a great looking car and with its smooth 327 Chev small block and newly tuned suspension it is also a lot of fun to drive. But like most classic cars it also represents a pretty good investment. Why you ask! Well, I read an interesting snippet recently about some research by the RACQ (or maybe it was one of the equivalent organisations in another State) that went like this. On average, a new car loses 14% of its value for each of the first three years of ownership and an average of 8% over the next two years. So at the end of 5 years the average Camry, Falcon, Commodore, etc is worth around half of what you paid it! This beautifully restored Impala can be yours for under $35,000...how much do you think it will be worth in five years? If I were a betting man, I would have a guess at $35,000 or there about.