A few weeks ago, we gave you lists of affordable and mid-market cars to buy now for 2017. All of those cars are good buys, but there are also a few cars I would not recommend buying in 2017, if you expect to make a lot of money on them.
If you own or want one of these cars and pay a market-correct price for it, then by all means, enjoy your car -- just don’t expect any big gains in value.
Here’s my list of what to avoid in 2017:
(Photo via ClassicCarsTodayOnline.com)
1. 1975-1985 Mercedes-Benz 450SL/380SL: These are other examples of great cars - Mercedes-Benz just built too many. The earliest small-bumper cars are a good buy, but the later U.S. bumper models are as common as the MGB, if not more so.
Buy one if you really love it, but again, don’t expect a big short-term gain on your purchase. Also, do not spend more than US $10,000 on one, because that is what they are currently worth.
(Photo via HobbyDB.com/AHPS)
2. 1955-1957 Chevrolet Bel-Air: These cars have had their day in the sun, to be sure, but their owners are now aging out, and many of these cars are now on the market. This is compounded by the fact new buyers are not enamored with these cars as much as the baby boomer generation was, and as a result, the market is soft for these cars.
If you have always wanted one of these cars, you might want to wait, because the market could further soften for these iconic cars.
(Photo via Pinterest)
3. Jaguar E-Type Series II in Driver Condition: There is nothing wrong with a Jaguar Series 2 E-Type, but a weaker driver example can easily be a money pit. To set one right takes a lot of money and even more time. These cars now sell for as much as US $75,000. Sure, nice examples can sell for more than US $100,000, but to get a weak one to that level can cost more than US $50,000.
Do the math. Buy a nice one and you are fine; buy a weak one, and unless you are a very adept home restorer, then you are upside down in your car from the start.
(Photo via Pinterest)
4. Rubber-Bumper MG MGBs: There is nothing wrong with these cars if you like the styling, which I do, but the 1974 and later MGB is a very common car. The best examples trade for as little as US $7,500, and I do not see them selling for much more in the foreseeable future.
As always, if you love one of these cars and are buying it to use, buy what you love for a fair price and enjoy the car -- just don’t expect to retire from the proceeds of your investment anytime soon.