When it comes to classic car collecting, the real prizes are top-tier names from Ferrari, Porsche, Aston Martin and more. However, that may be a Baby Boomer preference, as new data shows.
Barron’s reported on Monday that insurance data collected from Hagerty shows Generation X and Millennials prefer a different slew of cars to own and collect. In fact, many of them are pretty affordable, including the Jeep CJ-7. The AMC-era Jeep made what Hagerty dubbed the 2018 “Bull Market” list, a list of cars prime for appreciation.
The classic-car insurer named the 1979-1986 CJ-7 as a hot vehicle as of recent, even though their retail prices hover around $12,000 to $17,000. While that figure is affordable, prices have jumped 27 percent in the last five years. Other cars include the Lamborghini Diablo, Toyota Supra Turbo, Ford Raptor and the Pontiac Firebird Firehawk.
“These really are the poster cars for the next generation,” says McKeel Hagerty, the insurer’s CEO.
A piece of advice from Hagerty? Seek the cars out now to maximize their potential in the years to come.