10 classic cars that could rise in value in 2023 including Ford Fiesta

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The Hagerty Valuation Team spend months identifying cars from all eras that offer a great ownership experience while using their industry-leading market data to determine which models may appreciate in value. The Hagerty Bull Market is aimed at people who want to find, buy, and drive a classic or modern classic vehicle but, the standout advice is always to buy a car they like first and foremost. 

If the car later delivers a healthy return financially, that should be considered an added bonus.

John Mayhead, Editor of the UK Hagerty Price Guide, said: “Every year, our Valuation Team analyses thousands of transactions from our two million insured vehicles, auction results and dealer sales to see what is on the move. 

“The Bull Market list identifies those cars that may be rising in value, so if you want one, now may be the time to start your search. This year, as ever, we have a really interesting mix of cars to suit all pockets and areas of the hobby, from a veteran car all the way through to a modern classic supercar. 

“We’ve also included a couple of very different British roadsters. As ever, working through the data to compile this list has been a highlight of the year.”

In total, 10 vehicles were identified which are destined to make an impact. In addition to the following, Hagerty highlighted the Audi Quattro Sport (Mk1), Austin Seven, Ford Fiesta (Mk1), Lamborghini Diablo, and the Mercedes-Benz SL500 (R129).

Citroën BX, 1982 – 1994

The BX is described as a car which ticks numerous boxes in 2023: bargain prices, modern car utility, iconic 1980s design – and a genuinely charming and relaxing drive.

Hagerty says the classic is absurdly low-effort to drive, much like a modern car in fact, but packed with character, and in diesel form, running costs should be low too, with 60mpg well within reach. 

In 2022, the average price increased by a modest £25 to £2,150, with values expected to increase slightly in line with inflation.

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Saab 99 Turbo, 1978 – 1980

Hagerty Price Guide shows that the Saab can be purchased for £4,100 in “fair” condition or as much as £21,700 for “concours”, with the company estimating prices to reach around £30,000 within a couple of years.

The 99 Turbo is rare with fewer than 100 believed to remain in the UK. Given the rally pedigree and engineering excellence, the Saab 99 Turbo remains something of a steal

When looking at the Saab, a 20 percent increase in value has been seen in recent years. In comparison, another favourite, the Audi Quattro, has seen an uplift of just four percent.

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Triumph Spitfire, 1962 – 1980

Launched in 1962, the Spitfire is in plentiful supply, relatively affordable to buy, and with good parts availability, there has always been a loyal scene around the two-seat roadster. 

A true classic like the Spitfire can be found for as little as £2,800, and are popular among younger enthusiasts on a budget, although Baby Boomers are also fans of the Triumph.

Hagerty described the car: “It’s a car you can enjoy driving, gain that glowing sense of satisfaction that comes from accomplishing DIY tasks, and all the while your money is tied up in a stable investment – over the long term, values have been static, but there are signs good Spitfires are taking off.”

Lotus Elise (S2), 2000 – 2010

A more recent classic on the list, the Lotus packs a punch with a 1.8-litre Toyota four-cylinder that makes 189bhp, and as a variable valve timing unit, most of those horses are found up-top.

Hagerty said the “clever money” was on the Series 2 model which is frequently less expensive to buy, but is a better car in many ways.

This revered British sports car is more affordable here than in the US – a standard S2 can be bought for under £20,000, where the median quoted in the US is around £40,000, and has soared recently, up by 34 percent in the last two years.

Bentley Turbo R, 1985 – 1997

Launched in 1985, the Turbo R produced an estimated 328bhp, and somewhere in the region of 400lb ft of torque, somewhat offset by the car’s kerb weight of 2.2 tonnes.

The Turbo R is currently a little below its 2020 peak of £16,800, which seemed to benefit from the post-lockdown “revenge-buying” boom – people who had always wanted a Bentley seemed to perceive them as a cheap entry into the marque. 

In 2022, values were steadily rising, and are now back to an average of £15,400.

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