Classic Fords are simply beautiful but they are expensive. These cars are very popular with collectors all over the world and popular models can go at auctions for as high as 200,000. Of course, this also means that these vintage models are roadworthy and refurbished completely according to OEM specifications and covered with insurance. Most collectors involved in the area are usually retired with the time and patience required to repair the cars and bring them up to par. These collectors also make sure that the cars are protected with over 55 car insurance as the cars are roadworthy. The insurance protects the cars when they are taken on the road and it is also required in case the owner decides to sell the car at an auction.
Starting a Collection
If you've just retired and if you were always interested in classic Fords, this is a good time to get into the field of collecting vintage cars. According to the latest news, a simple collection of a 1967 Shelby GT500 Super Snake and a 1967 Eleanor Hero Car went for a impressive amount in June 2013 and the demand for restored and roadworthy classic Fords has increased due to that. However, before you actually start investing in the field, there are a few things you should know about Ford and why its so popular with collectors.
Read Up on the Company
Ford is an all-American company but the Ford Mustang is probably the most popular car made by the company. The Mustang was the dreamchild of Lee Iacocca, the then Vice President and General Manager of Ford Division. He wanted an affordable car that could seat an entire family with the latest features but in an affordable price range. This dream led to a year-long development process that ultimately produced more than five generations of Ford Mustangs. The car was heavily advertised and it quickly became the most popular car in the country. The company adapted to the local demand and newer, better and faster models were released every year leading to a huge range of models available for customers. It also helped that the company offered personalization in the form of colors, interior designs and even upholstery. This personalization is half the reason why no two Ford Mustangs of the same generation and year are the same. It also opens up the market for collectors in the form of a variety of car models.
Know What You Want
As the market is huge, it is necessary for you to focus on one generation and learn as much as you can about it. Fully roadworthy classic Mustangs are expensive but you can always find fixer-upper models that are cheaper. However, before you actually but the car, you should know how badly the car is damaged, and just how much it will cost for you to get it back to working condition. This will determine the purchase price as well and for this, research is necessary. Try to narrow down your preference to a single model from a later generation as you will be more likely to find cheaper models that are easier to restore.
For a novice investor, it's a good idea to visit auctions, exhibitions and workshops to understand the Ford Mustang collectors market. Not only will this increase your expertise but it will teach you the tricks of the trade as well.