Not all classic cars, despite their status, are a wise investment choice. Experienced mechanic and automotive expert Chris Pyle from JustAnswer shared insights on six models that could become both a financial and technical burden, as reported by Go Banking Rates.
“If you’re buying an old car to make it beautiful for yourself, don’t listen to anyone else’s opinions about it. If it makes you happy, that’s all that matters,” Pyle stated. However, he added that there are a few cars that should be avoided if you plan to restore and resell them.
Once famous for its innovative rear-engine design, the Corvair now faces significant restoration challenges due to a lack of spare parts.
“Nobody considers them as cool as they once did. Plus, parts for them are very rare,” Pyle noted.
This car often fails to meet expectations. Pyle explained that the Mustang II is underpowered, requiring a new, more powerful engine, which undermines its value as a classic.
Restoring this vehicle can be costly, yet its market value remains low.
“You could spend thousands to turn the car into a ‘peach,’ but it won’t impress anyone. In the end, you’ll have an overvalued car that you can’t sell,” Pyle warns.
While this “aerodynamic icon” impresses at shows, its practical value is limited to captivating onlookers. Only a handful of these models sell for $20,000 to $30,000.
The expert gave a rather harsh assessment of this car model.
“It had a 4-cylinder engine with 90 horsepower. My lawnmower has 24 horsepower, so you can imagine how dull this car was,” he remarked.
Even the iconic Porsche 911 can turn into a trap for investors.
“You’ll spend money to make this car stunning, and then you’ll struggle to find a buyer,” Pyle noted.
He also added that people are often too afraid to drive this car among others, leading to it sitting idle in garages.