Richard Hammond discusses his love for classic cars on GMB
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The findings, from Vanarama, analysed 15 affordable classic cars (models that cost less than £15,000) and tracked their value between 2010 and 2020 using data from classic car specialists Hagerty. They discovered the average affordable classic car increases in value by 97 percent over a decade.
This is an average increase of more than £14,400.
The most profitable affordable classic car is the 1961 Volvo P1800, which rose in profit by £21,569, a massive 283 percent increase.
The vintage Volvo was originally manufactured between 1961 and 1973 and was marketed as a touring car rather than a sports car.
It gained notoriety when it was driven by the late James Bond actor Sir Roger Moore on the TV series The Saint.
An 1800S was certified as the highest mileage private vehicle driven by the original owner, Irv Gordon, eventually exceeding 3.25 million miles in 2018.
The average purchasing price of a Volvo P1800 is around £7,600, which can rise to an average value of £29,180 after a decade.
A 1983 Land Rover Defender 110 also has a similar value after 10 years, coming in at £29,161.
Whilst the average purchase price is £13,697, potential sellers would still profit £15,464 after 10 years.
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The 1972 Volkswagen Beetle, many car enthusiasts’ perennial favourite, came in third place, and more than doubled in value by £10,285.
For Volkswagen, 1972 was a big year, as they sold their 15 millionth Beetle, surpassing total production of the Ford Model T, and also continued development of the ‘Super Beetle’, which was very popular around the world.
A classic American vehicle came in fourth spot, as the 1968 Ford Mustang GT could net vintage car owners almost £10,000 profit (£9,884).
A model of the GT that was originally driven by actor Steve McQueen was sold at auction in 2020 for a record price of $3.7million.
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