In this four-part mini series on classic car reliability, we are looking at the wider definition of reliability in the context of a classic… And what it means for you as an owner.
Blog Post #3 – Financial Reliability
Does your classic car give you financial confidence, or do you lose sleep over losing money?
A classic car is an investment, not just of time and space but also of finance. When it comes to money, there really is no limit as to what a classic car can cost. Displaying a vehicle at a classic car show could start with an entry-level classic such as a Mercedes-Benz 190 Saloon, available for a few thousand pounds in good running order… At the other end of the spectrum would be a 300SL roadster, requiring more like £1,000,000 to put on the lawn at your local rotary club event.
In the broader spectrum of classic car values, a Mercedes-Benz SL offers excellent value for money. More reliable than it’s British counterparts, better built than any Italian alternatives, and well supported by a plethora of established clubs, magazines, parts suppliers and restorers.
In recent years, particularly since the financial crash, far too much attention has been placed on classic cars as an investment, an asset, and as a way to make money. Too many column inches and blog pages have been taken up by what’s going to be the next big thing, how much such and such made at auction and whether marque values are up or down.
First and foremost, we at SLSHOP are enthusiasts. We really are more interested in helping you create memories with your classic than how much money it will make you over time. In the last 10 years, we have seen a significant increase in price almost across the board in the world of classic cars. For some marques, this rise was driven by an influx of investment money into the market. This buoyed the market as a whole, but in our corner of the classic car world, values increased not just on investor speculation but because of a genuine increased interest in the Mercedes-Benz SL.
Aficionados of the SL want the very best, and as more buyers join the market, this drives the price of the very best cars – it is the simple equation of supply and demand.
So should future gains play a role in deciding which car to buy, or whether and when to part your with existing classic?
This is where we ask if your car provides you with financial reliability.
Over the last 10 years, we have seen some cars rocket in value and then drop like a stone. We’ve seen cars that were hyped by the media and promoted by the auction houses reach heady heights only to attract no bidders at lower price points two years later.
All the while we have been quietly carrying on with what we do, providing excellent cars for astute buyers.
There is, and always will be, value in the Mercedes-Benz brand. There is a safety in owning a high calibre classic Mercedes-Benz, a consistency that other marques cannot guarantee.
The question as to whether you lose sleep over the value in your car has to be countered with another… Do you sleep soundly knowing you own the car you love and that you love the car you own…?
Let the market do what the market does, enjoy the cars you have, keep them in fine fettle and use them when you can.
#4 Inspirational Reliability
#1 Emotional Reliability
#2 Mechanical Reliability