Old Cars: To Buy Or Not To Buy by Greg Zyla

Q: Greg, as the economy slips into a recession, I would think it impacts the collector car market, too. So, would now be a good time to invest in a collector car or should we wait and see where the market goes? Samuel K., Vermont.

A: Samuel, I want to re-visit your use of the word "invest," as collector cars go up and down in price similar to the stock market and the demand of prospective buyers. When the economy is on a downturn, collector cars indeed feel the pinch of a recession and at times, could be a good time for a first time buyer. This is my personal opinion, of course, and I can't really tell you the right time to buy as only you know of your resources. You could buy a car tomorrow and see it go down in value, so if the only reason you are buying is for investment purposes, I'd say now is probably not the time to buy. If you are buying out of love of the car and hobby, and you find a good deal, don't hesitate and go have some fun.

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