Never Stop Driving #92: Why save it for the next owner?

“Are you saving it for the next owner?” someone asked me a few years ago, when I was describing the steps I was taking to reduce mileage and wear and tear on my 1965 Mustang. Oddly I have no memory of the place or even the person who shared this wisdom, but every time I see a new nick or blemish on one of my old cars, I calm myself by thinking about those words.

I’m not able to keep my cars forever. Obtaining a new one means selling something and I like to try different things. We’re in this hobby for different reasons. Some relish perfect paint and the process of keeping a car in new condition. I’m allergic to polishing and buy cars that I want to drive. But then, when I drive them, I worry that the inevitable wear and tear will mean a lower selling price, which means I have less to buy the next one. Irrational thought spiral? Yep, but that thinking is what sparked the idea for our annual list of cars that are poised to appreciate, the Bull Market List. If there’s a car on the list that suits me and my budget, like the Porsche 914 from 2020, I often buy it.

In addition to the financial concerns, I also have a fundamental respect and love for the machine itself. I feel like a caretaker, like the car is more special object than tool. But whenever I find myself succumbing to the notion that a particular pile of metal, glass, and plastic is inherently sacred, I hear those words of wisdom again—are you saving it for the next owner?—and I’m back to reality. Who knows what the next owner will do so why not enjoy the car while you have it?

With that background, you can see why I was particularly interested in an article we recently published by my colleague Adam Wilcox, from Hagerty’s Valuation team. Wilcox poses a question I’d never thought to ask: Do some cars get more valuable the more they’re driven? Wilcox shares my dismay at the current market premium for barely driven “wrapper” cars and how prices for them can drive owner behavior. We buy these things to drive so let’s celebrate use.

While data from the Hagerty Valuation team, a proprietary feature of our market coverage, drives the piece, Wilcox also deftly weaves in a few inspiring tales about all the smiles behind those miles. Sharing the joy those folks feel for their cars is one reason Hagerty provides free media, like the newsletter you’re reading. If you’d like to support us, please join the Hagerty Drivers Club.  

Wilcox’s article was one of the most popular things we published in the past week. To bring you into the weekend, here are a few other highlights.

• Amateur writer pens tearjerking story about his dad’s Chevy
• Steve McQueen’s wrecked Trans Am sells for big money
• Check out this Volvo limo for sale on our auction site. The auction ends today.
• The weirdest automotive terms
• Porsche’s first sedan was a Studebaker
• You, the audience, pick the best starter classics
• Jason Cammisa on the exotic and fuel-sipping VW XL-1

Have a great weekend!

Larry

P.S.: Your feedback is very welcome. Comment below!

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