Robin Roberts reports.
Used car buyers with a keen eye for an investment could be set to benefit from a new online tool that reveals the cars that are appreciating and could become collectors’ items.
‘Future classics’ created by automotive data and valuations expert HPI is an online site that allows users to find out which cars are likely to appreciate in value in the future.
The tool, which is free to use was created by HPI’s data science team and uses real-time data to generate live accurate vehicle values based on average advertising prices. The tool tracks hundreds of thousands of used car adverts making it possible to extract the makes and models that are rising in value and could represent a good investment for buyers.
Visitors to the site select a budget on a sliding scale between £6k – £155k and using data from all available UK car average advert prices a valuation is instantly shown. The data also allows users to see how the value of the car has developed over time together with available and current market conditions.
Mark Barrett, international data science and analytics manager said: “This is an exciting development within HPI and is further evidence of our ongoing commitment to innovate with our customers firmly in mind. Using the wealth of used car advert data available we are able to present real-time values of cars based on average advert prices so buyers and sellers know how a particular car is performing in the market. This also enables trends to be mapped so it’s possible to see if cars are going up or down in price.”
Mark has identified a number of vehicles which are performing well based on current values and why they could represent a worthwhile investment… His choices…
Porsche Boxster Spyder (987) – The Spyder was introduced as the lightweight Boxster, with a manual fabric roof, fabric interior handles, and several other ways to add lightness. Whilst both the manual and PDK versions have performed well, the manual would be my choice, with carbon fibre bucket seats, no stereo, and no air con options added to it.
The BMW 1M was introduced around the same time as the Boxster Spyder, with just over 1,000 produced in right hand drive specification. Today there are 279 currently on the road in the UK. The rarity, combined with their fun factor means that they are very sought after as we see in their valuations – it’s now worth more than the original cost.
Vauxhall VX220 Turbo – built on the same production line as the series two Lotus Elise, the VX220 now represents a relatively inexpensive way into a lightweight, raw, rear wheel drive sports car. Values have been slowly increasing with the turbo version being our choice over the naturally aspirated 2.2 litre engine.
Ferrari 599 – If you have a spare £130,000+ and need a V12, front engine, rear wheel drive supercar, the 599 appears to be a good choice. Aside from service costs, the Ferrari has held its value over the past 4 years. Special editions (Alonso, and GTO versions) spike the data but the overall trend is a steady increase.
Fiat Coupe Turbo – Designed by Chris Bangle, with the interior styled by Pininfarina, the Fiat Couple remains a timeless, stunning design with enthusiast support. It’s hard to beat the launch colour Giallo Ginestra (broom yellow) in terms of impact…
For a look at HPI’s Future Classics please visit: Future Classics Car Value Tool – HPI Blog