Although there are more differences between driving in the United
States and driving in the UK than which the side of the road you drive
on, there are also a great many similarities, as the two English
speaking nations seem have nearly the same traffic laws and the same
traffic problems as well. Britain has been on the leading edge of new
methods of traffic control though, and that nation’s extensive and
successful use of remote-operated roadside cameras to catch speeders
and monitor traffic conditions is now being adopted in many parts of
the U.S.

Another automotive problem the UK shares currently with the U.S. is a
growing number of people driving around without any auto insurance.
Recent studies conducted in the UK found that one in six UK motorists,
or 16% of all drivers, has driven a car without insurance at some
point. The research showed that 8% of the drivers have driven their
own car uninsured, and another 6% admitted they drove someone else’s
vehicle without proper insurance coverage. Tack on another 2% of
drivers who said they had driven their car while they were “between” ‘
insurance policies and you have a whole lot of people driving around
uninsured.

The UK study also asked why people were driving uninsured. Responses
included; 18% of the uninsured drivers who said they did not know that
car insurance is mandatory, 5% said they did not want to be bothered
to get insurance, 6% said insurance was just too expensive, and 7%
said they didn’t need insurance because they did not plan to be
involved in an accident. The study also found that younger drivers
were more likely to scoff at the insurance laws with nearly a third,
or 29% of 18 to 34 year-olds in the UK said they drove without
insurance compared to just 6% of drivers over the age 55 who admitted
driving without coverage.

The number of people driving uninsured all the time in the UK is
estimated to be about 4% of all the traffic on the road. Those numbers
translate to about 1,500 cars vehicles without insurance being
impounded every week, and over a third of them are never reclaimed.
It’s a big problem, and one that is even bigger in the U.S., as nearly
14% of all drivers in this country are thought to be uninsured. As in
the United Kingdom, U.S., law-enforcement agencies often use automated
license plate recognition technology in their squad cars to check for
insurance and all drivers are asked to produce proof of insurance
during a traffic stop. Enforcement has been spotty though, and more
people than ever before continue to drive without insurance in both
countries today.

The British government is now eye-balling a plan to make use of its
existing system of closed-circuit television cameras in a new way to
put a more effective halt to uninsured drivers. In a controversial
move that would certainly be very difficult to copy here in the
States, British gas stations could be directed to prevent uninsured
drivers from refueling their cars. The UK already has thousands of
license plate recognition cameras installed at gas stations across the
nation to prevent drivers from leaving the stations without paying for
a fill-up. The new plan would use those existing cameras to
cross-check license plates against the government’s insurance record
database and for those drivers without current insurance, the pumps
simply will not operate.

Obviously, not everyone is thrilled with the proposal and some
gasoline retailers have said the plan goes too far, and that it could
increase the potential for conflict at gas stations, as gas station
attendants are not law enforcement agents. Those in favor of the
proposal point out that executing the plan would be fairly simple and
inexpensive as it only requires connecting to existing technology
already in place. Proponents of the new “no insurance equals no fuel”
law also say there should not be any privacy concerns about the law
because there are no new databases created, no individual vehicles
will be tracked and no records are kept. Whether or not the new UK
insurance for fuel rules will make it into permanent law is unknown at
this time, however it is a pretty good bet that a similar law in the
United States would be met with massive opposition even though it
would make the roads a bit safer for everyone on them.

Searching for the lowest possible rental car rates has gotten a lot
easier thanks to the Internet. Almost every car rental company in the
nation is well represented online these days and finding each agency’s
online specials only takes a few clicks. While the search may be easy,
it can also be a lengthy process considering there are so many
different deals that are constantly updated and revised, finding the
absolute rock-bottom cheapest price can be an ongoing task.
Thankfully, it doesn’t cost anything to reserve a car at most
agencies. You can reserve a car without giving out your credit card
number and when you find a better deal, there is no charge for
canceling your reservation. This means you can keep reserving cars
until you find the lowest price, or simply get tired of searching for
a better deal.

If you don’t have the time to perform a lengthy online search and
comparison, keep in mind that most of the major car rental companies
offer some sort of daily online special pricing and you should at
least check the website of the company you’re considering renting from
to see if they offer any last-minute special deals. Most of the
nationally recognized rental agencies like Alamo, Avis, Budget,
Dollar, Enterprise, Hertz, National, and Thrifty have usually been
very competitive when it comes to pricing and usually offer some of
the least expensive rental rates available, especially online.

If you know your travel and car rental plans in advance, you can look
for prepay promotions that offer as much as 15 to 35 percent off the
regular prices. Both Alamo and Budget usually offer good prepayment
deals. Be sure to ask about any other discounts that may apply. If you
are a senior citizen or a member of the military, ask about any
possible discounts. Everyone knows that weekday car rental prices are
usually cheaper than weekend rates when there is more demand. If you
must have a car for the weekend, Enterprise and Budget usually have
ongoing weekend deals that allow drivers to save as much as 50 percent
off weekend rates. If you’re looking at an airport rental car, keep in
mind that most agencies’ airport rates are usually a bit more
expensive than their non-airport locations and you can save a few
bucks by skipping the airport rental counter and going into town to
rent your car. If you must have a rental car at the airport, consider
reserving the car in advance to take advantage of any discounts that
might be available. Remember that reserving the car in advance doesn’t
cost you anything, but it will lock in any special pricing that is
offered. If you find a better deal somewhere else later, you simply
cancel one reservation and make another. Don’t forget to ask about
free car class upgrades when renting anything less than a full size
vehicle too.

In the end, the best way to ensure you will get the best deal on a
rental car is perhaps simply by being a well-informed consumer. Being
informed can also help you avoid extra charges and hidden fees that
could drive up your costs. Be aware that some discount rental
companies will put restrictions on cars booked online that they do not
impose on direct bookings. If you plan to cross state lines in your
rental car, make sure there are no geographical limitations on the car
or it could cost you more. Another sneaky practice is charging extra
fees for having more than one driver behind the wheel, even if it’s a
spouse. Obviously, you need to check the terms and conditions before
you rent, and look for a company that will allow spouses to drive at
no extra cost if it applies to you.

Fuel charges are another area that can cost you extra money when an
agency charges you twice what you’d normally pay at the pump when they
refill the tank for you after you return a car. Better to use a rental
company that offers the option to rent the car with a full tank and
return it with a full tank, without any extra fuel payment to the
rental company. Additional fees and hidden charges are just like other
potential rental car problems, and most of them can be avoided by
checking the terms and conditions of the contract before you rent the
car.

Although many people have heard the term “Blue Book Value” in relation
to car prices, few really know what the Blue Book is, or how to use
it. The Kelley Blue Book has been best-known used-car pricing guide in
the United States for more than half a century and savvy consumers,
auto dealers, finance companies and auto insurance dealers have all
relied on it to help them determine actual car values for many years.

In the early 1920′s, auto dealer Les Kelly created lists of used
vehicles he wanted to buy along with the “fair” prices he was willing
to pay for them. In time, the local business community began relying
on Les Kelley’s price evaluations and started using them as guides to
automobile market values. It wasn’t long before Kelly realized he had
a marketable product and the official Kelly Blue Book of Motor Car
Values was born.

For many years the Blue Book was a trade-only publication, and sold
only to qualified subscribers within the automotive industry. The
final phase of the book’s evolution came in 1993 when a
consumer-oriented edition was published and distributed to bookstores,
auto supply stores, newsstands and many other locations. In 1996 new
car prices were added to the book, and prices for recreational
vehicles, motorcycles, and mobile homes were added shortly thereafter
and by the end of the decade the Blue Book had become the automotive
industry’s leading provider of pricing information.

Today, the book provides new and used car pricing, trade-in values,
and other information related to the vehicle buying and selling
decisions on cars dating back to the 1940s. In addition to the print
copies published twice a year, most of the Blue Book information is
also available online for free at the Kelley Blue Book website.

Kelley only offers information on cars sold in the United States, and
the New Car version contains pricing information on cars for the
current model year, including the Manufacturer’s Suggested Retail
Price, the dealer’s cost, any extra costs, and the price of various
options too. The Used Car version of the guide contains information on
the values of cars made in the last 15 years and provides different
prices including the retail/used price, or what you would pay for a
car at a used car dealership, the trade-in price that a dealer would
likely offer you, and the private sale price you would expect to get
for a car if you sold it to another private party. The book provides
methods to calculate prices based on the condition of a car, the
mileage, and any optional equipment. Finding the values you want is
simple because all of the cars are listed by manufacturer and
alphabetically by model too.

In 1995, the Kelley Blue Book web site was launched and it quickly
became one of the most visited sites on the Internet. Today complete
info for both new and used cars going back 20 years is available for
free online. To search new cars you simply click the “New Car” tab and
select the manufacturer, year and model you’re looking for. You’ll see
the MSRP, the dealer invoice price, and the actual prices people are
paying for the car nationwide. You can also get a list of nearby auto
dealers that have that exact model of car for sale.

Looking up used car values is just as simple. You click on the “Used
Cars” tab followed by “Get Blue Book Values,” and then select the
year, make and model of the car you are looking for. The guide
provides three value options, trade-in, private party, or retail, and
users can also select engine, transmission, and mileage preferences
too. Users are also offered the chance to select the condition of a
used car within four grades including excellent, good, fair and poor.

The Kelley values are a valuable resource and a good starting point
for anyone trying to determine actual vehicle values in today’s
marketplace. In many instances the Blue Book prices will represent the
high end of pricing due to local market factors that can make some
vehicle prices lower than the Blue Book values. The law of supply and
demand also helps regulate the car market in many areas as well.
However, as a research tool for both consumers and dealers, the Kelly
Blue Book continues to be the primary source of auto pricing
information available today.

By now most drivers in North America are very familiar with foreign
cars. The Japanese vehicles have enjoyed two solid decades of
successful sales and have penetrated every segment of the market from
basic transportation to luxury class rides. The once-diminutive
Japanese mini-trucks have evolved into full-sized, full-payload
capacity V-8 powered pickups that rival the best American trucks. At
the same time, cars from European manufacturers like VW, BMW, Porsche,
Mercedes, and Audi have dominated the sport and luxury car categories
here in the U.S.

While foreign autos have been steadily improving their products and
sales figures, the market share for domestic produced vehicles has
been shrinking. The Big Three U.S. manufacturers from Detroit are no
longer the Big Three. Chrysler has been sold to foreign investors and
General Motors has been taken over by the U.S. government, leaving
only Ford Motor Company as the sole U.S. automaker standing on
semi-solid turf. These are tough times for the Big Three and in
response, they have had to step up their game in order to compete with
the onslaught of imported cars and trucks washing up on our shores.
The good news here is that competition always improves any breed, and
as a result, the fit, finish and performance of U.S. produced vehicles
has risen to new levels to the point where there are a some very good
products coming out of Detroit today.

Consumers who feel the need to buy a domestic car or truck now have
some very good new vehicles to choose from in just about every
category. The automotive press has recognized the renewed quality of
domestic vehicles too, and are now starting to include them in their
lists of “top picks” when reviewing the marketplace going forward into
2013. In response, we have scoured the web to come up with our own
list of the best domestic-produced cars and trucks available today.

Top Domestic Family Sedan – Ford Fusion Hybrid.
Although the 34 mpg Ford Fusion Hybrid has yet to enjoy the sales of
class rivals like the Toyota Camry Hybrid, the Fusion is proving a top
seller for Ford and is rapidly gaining ground on the Japanese family
sedans and looks poised to grab more market share going forward.

Top Domestic Sports Sedan – Cadillac CTS
The Cadillac CTS has been evolving into a well-finished luxury sedan
that delivers responsive steering, agile handling, and quick
acceleration that rivals even the European sedans at a lower price
point.

Top Domestic Sports Car – Ford Mustang
The performance and reliability of the latest generation Ford Mustang
is hard to ignore. The Mustang delivers competent handling in a V-8
powered chassis that harkens back to the heyday of the Detroit muscle
car era.

Top Domestic Small SUV – Chevrolet Equinox/GMC Terrain
GM scores with the Equinox/Terrain small SUV platform. The small GM
delivers the utility and performance equal to most imported small SUVs
at a better price, and better features in some cases. Although the
Ford Escape didn’t do too badly in this category either.

Top Domestic Full-Size SUV – Jeep Grand Cherokee
The popularity of the big Japanese SUVs is waning a bit due to their
higher prices, while the new Grand Cherokee has been improved with
more power and better mileage, as well as 8-speed transmission and
diesel options that should make it a strong performer in the segment
this year.

Top Domestic Pickup truck – Chevrolet Avalanche
Domestic pickup trucks have always been strong sellers, and although
they have lost some market share to the biggest Japanese trucks, the
Chevrolet Avalanche has the power, cargo space and all-around
performance to make it a stand out among the competition.

Top Domestic Green Car – Chevrolet Volt
Despite the fact that the Toyota Prius has dominated the green car
segment for five years running, the Chevrolet Volt can be less
expensive to operate than a Prius if driven within the Volt’s
electric-only range. First year Volt reliability has been excellent,
and the car looks set to gain market share going forward.

Thousands of cars and trucks are seized every month in the United
States due to non-payment of vehicle loans or other financial problems
in the current unstable economic climate. Every day the government,
banks and various other organizations take back vehicles that will
eventually be put up for sale at auto auctions. The good news is that
many of the vehicles are in very good condition and the volume is so
high that they are put up for auction at discounted prices often far
below their actual market values.

A car auction may be a great way to get a good car at a price several
thousands of dollars below the actual value of the car, but you have
to be able to actually find the auction first. Although most car
auctions are technically open to the public, not everyone can get to
them, or even knows where they might be held. Making things even more
complicated is the fact that most private institution car auctions are
not advertised on the radio, television or in the newspaper either.
You can begin finding the car auctions in your area by searching
online to locate the different agencies, dealerships, banks and other
financial institutions that are likely to be sources of auction
vehicles. If you can determine who the auctioneer companies are, you
can ask them for a schedule of auction events. You can also just go
directly to the banks and loan companies in your area to see what they
might have coming up for sale as well.

A more effective way to find car auctions might be to utilize a paid
membership, online auto auction directory service, where a one time
payment usually gives you access to many different auctions for a set
period of time. An online directory service will usually include far
more auctions than one person would otherwise know about, but not all
of them will be nearby. Some directories will also handle online
bidding for their users who are out of the area, and the shipping
costs are simply figured into the total prices.

Another great source of auction vehicles that many people overlook is
the U.S. government. Many different agencies sell all kinds of
vehicles at government auctions almost every day across the United
States. Unlike private auto auctions, government vehicle auctions are
advertised in the classified sections of local newspapers as a
mandatory requirement prior to conducting each sale. It can be a bit
tricky to find the listings for county or local auctions though, as
the notices are not published in all local newspapers and are usually
only posted for one day when they are listed. There are also
paid-membership, online websites that specialize in listing the times,
dates and locations as well as the specific vehicles available at
government auctions. Like the online auto auction directory services,
these paid sites give their users access to updated databases of
government auctions and make it easy to search for vehicles by year,
make and model too.

Government car auctions feature a lot of diversity because they get
their vehicles from a number of different sources including seizures
from criminals or tax impounds, fleet vehicles used for administrative
purposes, and surplus vehicles that are no longer needed by the
government and are sold to save the costs of storage and maintenance.
You might get lucky and end up with an excellent, low-mileage vehicle
at a great price. However, anyone interested in any type of auction
vehicle should always remember that they are sold “as is” and there
are no guarantees and warranties included in the deal.

When someone finances or leases a vehicle, the creditor or lessor has
rights established by the contract and local laws. Those rights will
typically end after the loan or lease obligation is paid off.
However, when a person fails to make the payments on a vehicle, the
creditors often have the right to repossess the car without going to
court. The laws in most states allow creditors to repossess a car at
any time, without notice, and to enter private property to do so.
Once a vehicle has been repossessed, the creditor can decide to keep
it as compensation for the debt or sell it in a public or private
sale.

Vehicle repossessions are fact of life, especially in today’s weakened
economy. There are so many people having trouble meeting their
financial obligations that there are now more repossessed vehicles
going back into the market than ever before. Nearly 2 million vehicles
were repossessed in the United States last year as economic woes hit
the owners of every type of car and truck on the road. As a result,
repossessed vehicles in every category can now be found for sale
across the country. The vehicles are sold at a wide range of venues
ranging from bank parking lots and websites to auto brokerages and car
auctions.

Although repossessed vehicles may represent someone’s financial
disaster, they can also be great bargains and offer consumers the
ability to save thousands of dollars on good used vehicles. Getting a
good deal means knowing exactly what the market value of a particular
vehicle is, and in the case of repossessed vehicles, assessing true
value can be tricky when the actual history of a vehicle is incomplete
or unknown. A repossessed vehicle that was lost by an owner in
financial distress could mean the vehicle was not maintained or
serviced regularly. Even worse, in some cases disgruntled creditors
have damaged their vehicles on purpose as a parting gift to their
lender.

Because repossessed vehicles usually lack warranties, and are sold “as
is”, the buyer assumes 100% of the responsibility for the actual
condition of the vehicle, even if it dies 5 minutes after the sale.
One option to avoid problems is to purchase from a dealer that
specializes in repossessed vehicles and will usually allow more
thorough inspection of the vehicles. Another option is to buy direct
from a lending bank or credit union, as many financial institutions
offer their repossessed vehicles for sale directly at a local branch
or on their websites.

Banks and credit unions sometimes sell their repos at parking lots
where buyers can bid on the cars over a period of several days. Other
institutions simply sell their repossessed vehicles for fixed prices,
which can be great deals when the prices are low on good cars and the
buyers can also get low interest rate financing at the same time. It
is not unusual for a credit union to set the sales price to cover the
amount owed on a delinquent loan and offer the new buyer an interest
rate as low as zero percent, but they usually won’t bargain on the
price. Buying a repo at an auction can represent big savings as the
prices are almost always below Blue Book values and the bidders tend
not to drive prices up. Some auction houses allow customers to inspect
and drive vehicles before bidding, while others will not.

Buyers take a certain amount of risk when purchasing a repossessed car
or truck these days, but the potential savings can be big if you are
educated about actual car values and know the true condition of the
vehicle you are considering. Armed with the right information, buying
a repossessed vehicle should be a straightforward affair. If you run
into fraudulent, deceptive or unfair business practices in the
repossessed vehicle marketplace, you should contact the Federal Trade
Commission.

Negotiating a good deal on a used car is not an experience most people
look forward to. However, it doesn’t have to be a completely agonizing
experience if you’re armed with a bit of information and preparation
going in. Negotiating for a good price can be a fun challenge that
pays off nicely when you eventually get the right car at the price you
want.

Assuming you’ve done your homework and know what you’re looking for,
the first order of business in negotiating a deal is determining the
true value and recent selling prices of the particular model of car or
truck you are looking for. Many people consult both the Kelley Blue
Book’s Guide to Used Cars and the National Automobile Dealer’s
Official Used Car Guide in order to determine used car prices.
However, it is not in your best interest to take the values in the
Blue Book or Official Used Car Guide as the absolute final word on how
much you will have to spend. Those guides are national publications
that reflect average values across the country and will not always
accurately reflect the prices cars are selling for in your specific
market. Different areas of the country will have different prices.

You’ll need to fine tune your estimate of the going prices for the
type of car you want in your area by using the Internet and visiting
local dealerships that sell used cars. Both autotrader.com and
craigslist.org feature used cars that can be checked out in any area
of the country. The asking prices at the dealerships will be higher
than those of private party sellers, but you can check both from your
home computer and get a pretty good idea of what the reasonable price
range is for the vehicle you want in your area.

Once you know the approximate value of the used car you’re
considering, you can approach the seller in person to make a deal.
Before you start any negotiations you should always be prepared to
walk away from a deal. Never get your heart set on a particular
vehicle, as it can put you in a weak position to negotiate if the
seller knows you’re already in love with his car. There are always
more examples of any given vehicle. It doesn’t matter if it is a
private party seller, or a dealership salesman, you need to make it
clear to them that you are ready to buy if you can reach an agreement
on the price. When a seller knows you are serious and not just wasting
his time he is more likely to give you his best price up front if he
thinks he can make the sale on the spot.

The final part of your negotiations is to start by making a low offer
at first, and then slowly offer a bit more cash up to the price you
feel is fair, but don’t get into a bidding match and go above your set
final price. After you’ve made your offer, and raised it to where you
feel comfortable, the rest of the negotiations are up to the seller.
When negotiating at a dealership, the salesman will probably try to
justify his prices by offering add-on amenities or extended service
contracts, but you must remain firm and not budge. You can always
thank the seller for his time and tell him you need more time to
consider the deal. If you leave for a while, the seller might be more
motivated to make a better deal when you come back. If not, don’t
fret, used car deals are a bit like trains, and if you miss one, there
will always be another coming along soon enough.

According to a recent press release from seven different major automakers, all have agreed to adhere to the same type of charging system for their new electric cars and trucks. A single, universal charging system for electric vehicles could go a long way toward increasing both the appeal and utility of the current new crop of electric cars and trucks. Ford, Audi, BWM, Daimler Chrysler, GM, Porsche, and Volkswagen have all agreed to employ a single integrated charging system for all electric cars in North America. The move will circumvent a major question and complaint with electric vehicles by removing the requirement that drivers charge their vehicles only at those electricity-stations dedicated to their particular brand of vehicle.

Although the universal charging solution will be compatible with current industry standards in both the U.S. and Europe, so far only American and German automakers have signed on to the pledge and it is hoped that the Japanese and Korean manufacturers will get aboard soon. The seven participating manufacturers said they will employ a single-port charging system for all configurations, from small home charging stations to large public stations. The automakers also announced their support for a program called HomePlug Green PHY, which allows drivers to link their cars to the smart grid using a system from Powerline that also includes useful options like real time diagnostic system checks.

The overall result of the universal charging system proposal should be a collective sigh of relief from the consumers who will not have to worry about what kind of charging plug their new electric vehicle is equipped with. Most people agree that a universal system is in the best interests of consumers, manufacturers and the electric vehicle industry as a whole.

The professional services firm Deloitte, is one of the largest international accountancy and professional services firms in the world today. As a result, Deloitte handles the vast majority of audits for publicly traded companies in the U.S. as well for as many companies in the automotive industry.

Recent research by Deloitte took on U.S. consumers automotive expectations recently with the publication of its survey titled “Unplugged: Electric vehicle realities versus consumer expectations.” Deloitte found that although the current consumer interest in electric vehicles is high, the electric vehicles offered today are too expensive and can’t travel far enough on a single charge for most survey respondents. The data also showed that most consumers also feel that the current state of the electric vehicle charging infrastructure is far too underdeveloped to be of much real value. The Deloitte survey seems to suggest that while American consumers are definitely interested in buying electric cars, the ones for sale right now aren’t really what they want.

Even though 75% of Americans actually drive less than 50 miles per day, the Deloitte survey found that more than half of consumer respondents indicated they would be interested in an electric vehicle that will travel at least 300 miles on a single charge. That number is a long way from the ranges delivered by the current crop of EVs that have yet to reach 100 miles per charge. Most deliver ranges between 50 and 75 miles at present. Fill-up, or re-charging times are also a consumer concern as most current EVs require eight-hour or longer to charge completely. Consumer respondents indicated they would like to see electric cars that can recharge full in less than two hours. Electric vehicle pricing is another hurdle to be crossed, with most consumers expecting electric cars to cost about the same as conventional vehicles. Unfortunately, most of today’s EVs cost about $10,000 more than an equivalent conventional model today.

Perhaps the most surprising finding in the Deloitte survey was the fact that most respondents said they would not be interested in an electric vehicle at all if they could purchase a conventional car that delivered 50 mpg. In fact, i the day ever comes when conventional vehicles can deliver 75 mpg on gasoline, it is doubtful that electric vehicles would have much consumer appeal at all.

In today’s uncertain economic climate, it is not unusual that many investors are diversifying their portfolios with a variety of different investment strategies. As a result, tangible investments like gold, silver and real estate have all been growing in popularity lately. That classic collectible automobiles now seem to be joining the list of popular tangible investments is also not so surprising.

The well-known Barrett-Jackson automobile auction group collects data on America’s love of classic cars and its info shows an annual growth rate of 16% in the classic car market over the last 10 years. Comparing that to average annual growth rate of 4.45% from the Dow Jones Industrial Average during the same period clearly shows the attraction of investing in collectible autos. It’s not surprising to see the classic-car market rise when the stock market is down because classic cars are not as volatile as the stock market. When the stock market and interest rates are fluctuating classic cars might look like a good investment, however many in the business advise that for investors who are not super-rich and don’t really know much about cars, investing in collectible autos may not be the best strategy.

Although the classic car market might be good right now, there are no guarantees as to what will happen in another few years. The classic car market can be problematic in terms of generating liquidity when needed because you cannot just call your broker and tell them to sell your classic car for market value instantly. You will have to wait for an auction if you want a fair price, otherwise your investment must be sold off in the Classified Ads for whatever you can get. Neither is a quick way to raise cash effectively. Because the classic car market is subject to trends, investors need to know what is happening at all times. Right now exotic sports cars are hot, while a few years ago the American muscle cars were all the rage. Classic cars are definitely not all the same and it requires a fair bit of education to stay on top of the game throughout an investment cycle.

Although the turmoil in most of the financial world right now seems to make investing in classic cars look pretty good, only the right car in the right condition can be a good investment. More people seem to be choosing to invest in collectible cars because they want something tangible, and they often feel better investing in something they can touch. There may be some consolation that you can drive a classic car as well, even if you did lose some money on it. When your stock loses half its value all you have left is a piece of paper. Although the 2008 recession has definitely pushed more investors into trying new investment strategies, including classic cars, the rules for cars are the same for any investment in that you need to buy low and sell high to make any money on the deal.