These are the smart used car buys that could make you £1,000s over time
USED cars prices are at record highs, thanks to a shortage of new cars being available.
Huge supply chain problems due to the pandemic and a global shortage of semiconductors have increased demand for used cars that can be driven away the same day.
Recent stats released by AutoTrader found that the average price of a used car now stands at £20,340, a 29% increase compared with last year’s figures.
But there are cars that you could buy now for a sensible sum, use or stick in the garage and sell later down the line for £1,000s more.
They're known as future classics, or cars that are beginning to get more interest for their rarity and sporting pedigree after years of flying under the radar.
Select Car Leasing has put forward the cars it thinks have the most potential has great investments for the future.
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Honda Civic Type R GT (2007)
Select Car leasing says: “The definitive Civic Type R was the second generation, 200 PS ‘EP3’ first unleashed back in 2001.
For years that was the one that petrolheads craved and you might struggle to find an affordable example right now.
The third generation Type R however, introduced in 2007, is perhaps seen by some as a slightly less honed version of the EP3 – but more and more fans are warming to the GT, and prices are on the rise.”
You can pick up a 2007 Honda Civic Type R GT for around £5000.
MG ZT V8 (2006)
“When MG took the staid Rover 75 and plonked a whopping great 4.6 litre V8 engine in it while also making it rear-wheel drive, it became an instant classic.
"There are, however, just two dozen examples left on UK roads so if you see one, snap it up.”
Because they're so rare, the MG ZT V8 will cost you around £9000, but will almost certainly go up in value.
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Peugeot RCZ R (2013)
“This car is all about the allure of rarity. Regular RCZs are not an uncommon sight on UK roads.
"But this ‘R’ version is much more elusive, and also offers an excellent drive.
"A 1.6 litre engine from the 206 GTi hatchback is tuned to produce power of 266 bhp, while it also has a specific turbo, lowered suspension and a Torsen limited-slip diff in the front axle.
"If you can find one, get it while you can.”
You can pick up a Peugeot RCZ R today for around £18,000.
Volkswagen Golf GTI MK IV (2003)
“Most lists of motoring greatness includes a VW Golf GTI.
"In terms of the older, more affordable models, it’s the 1.8 T incarnations from the early 2000s that bargain hunters are scouring the internet for.
"That’s because the turbocharged engine has a reputation for reliability as well as providing decent performance.”
Budget to spend around £4,500 for this version of the Golf GTI.
Toyota Celica GT-Four (1995)
“The much-loved Celica was dropped from the Toyota line-up back in 2006 as it made way for newer models.
"And while some incarnations of the Celica are relatively inoffensive, the GT-Four stuck two fingers up to convention and went the whole hog.
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"An enormous rear spoiler and huge bonnet scoop make it utterly unmistakable.”
These are becoming hard to find and prices today are already at £7,500 but will only keep heading north.
