It’s come to that time of year again! With only one day left until the end of the tax year, no doubt the investment providers are being inundated with calls from clients desperate reach their allowances. I thought that it may be interesting to have a look at a couple of classic cars that you can purchase for around the £15,420 ISA allowance. Bearing in mind that returns from cars are also tax free.
Although I am most definitely not suggesting that you forget the more traditional investment vehicles (no pun intended) and plow all of your money into a car, merely suggesting an interesting alternative investment for a petrolhead looking to diversify their portfolio.
The Porsche 928 is a bit of an overlooked gem in my opinion, rarely do they pop in to people’s heads when you mention a Porsche. However, over the last few years’, prices for decent examples have been steadily rising. The looks may divide opinion but the car has serious cool factor after starring in some of the most iconic 80’s films such as Scarface and Risky Business.
For around the £15k mark I found this 1980 example, which looks excellent value compared with some other examples with similar mileages, some going for well over £20k. Finished in guards red with some rather garish tartan seats it screams 80’s excess. No doubt this car would have been seen tearing round the City during it’s heyday.
Mercedes SL (R107)
Another 80’s icon that will always remain stylish. Nicknamed the panzerwagen due to it’s incredible build quality and ability to just keep racking up the miles. For under £15k you can still get very good example with a full service history and reasonably low mileage. Considering the huge prices that it’s predecessor, the SL Pagoda, is now fetching one would hope that the R107 would follow suit.
As with the 928, the SL is a useable everyday car and with so many engines available finding the right balance between power and economy shouldn’t be a problem.
So there we have it, two fun, stylish, iconic and useable classics that could potentially give you a great return over the next few years. Let’s face it, driving a Porsche is much more fun than picking unit trusts.