Something we’ve heard frequently in recent years on our classic car magazines is that owners have often bought their old car as an investment just as much as a fun weekend toy and like so many investments, it’s the higher-value classics which offer the greatest reward.
Despite this, few of us have the spare funds to invest in a high-end blue-chip classic despite its potential returns, but CarCrowd offers the chance to get involved. The idea is based around crowd funding, with many investors taking a fractional stake in purchasing a car and the company’s first purchase was a very original 55,000-mile 1962 Series 1 E-type.
The car was valued at £134,624 which was divided into 250 shares at £538.50, with a maximum single holding of 10%. The idea is to keep the car for five years, with a projected 37% return and a voting system in place to allow shareholders to decide on any sale before that time. In the meantime, the car is kept at a secure location and valued every six months. Obviously potential investors are advised to take professional advice before embarking on something like this but impressively, the E-type was entirely funded within an hour of going live, 90% via preregistration in the 48 hours prior. There’s talk of acquiring an XK120 for the next project and if you want to know more about the people behind the CarCrowd platform, they’ve just opened up a motoring-themed cafe in Nottinghamshire and you’ll find more at www.thecarcrowd.uk.