MOTORING experts have revealed a list of seven old cheap cars that have soared in value.
New vehicles are known to depreciate in value as soon as they leave the car yard but some ancient motors are being sold for eye-watering prices.
However, identifying which models are suitable for investment is not easy and requires some market knowledge.
That is why classic car valuation experts, Hagerty UK, have created a list of the best buys.
John Mayhead, price guide editor, told ThisIsMoney: “The best thing about these sorts of cars at this price point is that they are accessible classics.
“They have the potential to be great fun, really stand out from the other cars on the road and provide a driving experience that is just so different to the ‘norm’ attributes that are the same as more traditional classics that tend to be a lot more expensive.
“That means with everyone tightening their belts, these cars could offer a good opportunity for someone who wants a classic but has a more limited budget.”
Hagerty UK have recommended an eclectic mix including British classics, French hot hatches and even modern-era Japanese sports cars.
Here are the ten motors under £15,000 that are showing signs of rising in value.
1. Bentley Brooklands (1992-1998)
Bentley unveiled the Brooklands in 1992 as its entry-level model and was considered a success with some 1,719 sold globally.
However, it isn’t a car that earned instant classic status with values plummeting through the noughties.
But now there are signs that prices are on the upturn.
John said: “It remains one of the cheapest ways into V8 Bentley ownership and although it didn’t have the power of some of its stablemates, it wasn’t lacking any of its style.”
Average price now: £14,925
2. Triumph TR8 (1978-1980)
The Triumph TR8 was considered by many the “British Corvette”.
Built for less than two years, nearly all were left-hand drive examples sold to the American market and Canada with only handfuls of UK-spec examples manufactured.
This rarity has driven up average values.
John said: “It’s an instantly recognisable car that surely has potential to increase.”
Average price now: £14,225
3. Peugeot 205 Rallye (1988-1992)
The Peugeot 205 Rallye has a modest 1.1-litre engine.
It’s known for it’s stripped-back interior, with zero soundproofing, no stereo, a basic dashboard and manual windows.
Prices soared by 5.3 per cent last year.
Average price now: £14,350
4. Fiesta XR2 Mk2 (1984-1989)
The Fiesta XR2 Mk2 has soared in price by 14.1% compared to last year.
It was first manufactured in 1976, before a ‘hot hatch’ version came out in 1981.
Average price now: £11,125
5. Land Rover 90 petrol (1984-1989)
The average cost of a Land Rover 90 is around £12k.
And it’s no wonder as the first examples of the sought-after motor will soon have other great perks too.
They will soon qualify for “historic vehicle status” – meaning they’ll be exempt from annual MOT tests, vehicle excise duty and low-emission zones.
Average price now: £11,025
6. VW Golf GLi (1979-1985)
The Volkswagen Golf GTI is a highly sought-after convertible with plenty of power.
It first emerged in 1979 at the Geneva Motor Show – with around 101 still registered in the UK today.
Average price now: £11,025
7. MG Maestro Turbo (1989-1991)
The five-door hatchback is now worth around £7,500.
It has a 2.0-litre petrol engine with a turbocharger to add an extra kick.
Production on the motor only ran from 1988 to 1991, making it a rare and desirable option.
Average price now: £7,500
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