Money Matters

Have your heart set on a car to buy… but your wallet’s telling a different story? It’s true, most collector car owners pay cash for their vehicles. After all, if this is truly our hobby (as most of us claim), one could argue that we should use disposable income to satisfy our dreams of classic car ownership. In fact, of the million or so cars insured by Hagerty, fewer than 3% have been purchased through loans.

Most people don’t buy classic cars with the sole intent of making money -- the pure enjoyment of our cars comes first. But breaking even on one’s ownership of a car or keeping costs low sure helps with that happiness quotient.