• Toyota Cressida and BMW 325iS models still fetch good money in the pre-owned market.
• A vehicle with low mileage and good condition can make the price increase.
• The Autotrader dealer classifieds hosts a vast number of classic examples.
• For more motoring stories, visit Wheels24.
Every year new vehicle prices continue to soar. Just by looking at the healthy monthly new car sales numbers – despite said numbers being much lower than usual due to the economy and chip shortages - South Africans have the money to spend on vehicles, whether it's small compact or premium luxury offerings.
Buying a vehicle out the box is undoubtedly the better choice but the performance versions petrolheads are usually after cost an arm and a leg, making it largely unattainable. Because of this, some would instead splash the cash on much older cars they'd enjoy rather than a brand-new one.READ | There's real value for money in demo models: The good and bad about buying one
The internet was buzzing in South Africa earlier this week when a 1986 Toyota Cressida popped up for sale at a used car dealership in Johannesburg for a cool R1.1-million. Yes, the Cressida has a rich heritage in SA, and it was the type of car Nelson Mandela drove in the day he was released from prison in 1990. But is this price really justified?
According to a report on IOL, High Auto Select owner Waseem Fareed said it's a one of a kind, "mint condition", original GLE model, and absolutely makes the price worthwhile.
The ad on the Autotrader classifieds reads: "One of the most original 35-year-old cars with just a few minor touch-ups. Original parts from taillights to headlights. A truly iconic piece of Toyota's history. The interior has never been changed, original radio from 1986, and the very first Toyota floor mats from the day of delivery. With only 102 000km, the 2.4 GLE motor and automatic transmission will last you another 50 years if kept and appreciated in this condition."
Even buying a Toyota Corolla RSI or an immaculate Nissan Sentra could still fetch crazy prices at R100 000 or more.
South Africa is filled with all sorts of classic gems that appreciate annually. Models like the Toyota Cressida and BMW 325iS still fetch good money in the pre-owned market where factors like low mileage and excellent (factory) physical condition are considered.
Is old (really) better than new?
The Nissan Skyline R34 GT-R is a good example of an appreciating asset. One in great condition could cost you well over the R2-million mark, and people will spend that amount of cash without blinking an eye, even though the latest R35 has a starting price of R2.5-million.
Which pre-owned vehicles have the best appreciation? Or, do you own a modern classic you'd like us to feature on Wheels24? Please email us, or share your comments below.
Perhaps the biggest snag of owning a modern classic car is the availability of aesthetic and mechanical components. Because of scarcity, prices are often pushed up.
The price of new vehicles might be going up exponentially, but several older examples hold their value and cost even more in the pre-owned market. Below is a look at only five of thousands listed we've come across on Autotrader.