Classic Car Investments 101, Interview with Daniel Gannon, Co-director of Car-Iconics Ltd.

What’s the best car model to invest in right now? 

Having classic cars (or vintage cars) isn’t a big liability at all, as most think. If your investments are already in placed and you’re looking for a new game plan, then look into classic cars.  

In this episode of Mark My Words Podcast, Mark chats with Daniel Gannon, the Co-director of Car-Iconics Ltd. Daniel has been passionate and very knowledgeable about cars ever since. Discover everything you need to know today so you can make money and enjoy your passion about cars at the same time. 

Mark and Daniel dive deep on the technical stuff--aside from giving financial advice—from learning about what to inspect when looking for cars worth investing to learning about the car market, there’s a lot to learn on this episode. 

KEY TAKEAWAYS 

The classic car market, since early 2000s, have slowly fell down. Cars right now have become electronic- or technology- heavy.   Putting it in in a bank is also a risk. So, if you’re in a good position with your investment portfolio, it’s okay to put those extra cash on a new car. At least, a classic car’s value grows through time and it’s something you can enjoy at the same time.  How do you make sure you’re buying a high-value car? Do visual and mechanical inspection. And, brands are all the same so it shouldn’t be your first basis.  According to him, the best car is a Mercedes-Benz AMG SL 65 MG V12 (R230). He bought his own of the same model with just £7,000, and it was worth it.  They’re looking on putting more left-handed driven cars because there is a larger demand for them. 

BEST MOMENTS   

"Definitely, for the last 10 years, you can say that money has never been cheaper.”  “Look at cars that are off the radar.”  “You got to love what you buy.”  “It’s important that you buy a car that’s been restored by the right company.” 

VALUABLE RESOURCES 

Progressive Property  How Many Left? - https://www.howmanyleft.co.uk  

ABOUT THE GUEST 

Daniel Gannon is the co-director of Car-Iconics Ltd. Daniel’s and his father Stephen’s passion about cars inspired them to start their own brand and in which, they’ve been sharing their knowledge and experience on driving, collecting, racing, and restoration of cars. Aside from these, their business also gives the best advice so you can choose the best car out there which you can not only enjoy driving and owning, but also enjoy its investment potential. 

ABOUT THE HOST 

Mark Homer is an entrepreneur investor.  He has worked with investment since he was 15 years old using the laws of wealth! He is a spreadsheet analyst with an impressive following from major publications including BBC Radio, The Wall Street Journal, The Independent, and co-authoring the UK’s best-selling property books.  Mark has always looked for the best investment vehicle, and at the end of 2007 with Rob Moore the co-founder of Progressive Property his joint portfolio produced more profit than any of the other investments he’d tried in the last ten years, combined. 

Contact Method 

Email: Markhomer@progressiveproperty.co.uk   LinkedIn: https://www.linkedin.com/in/markhomer1   Facebook: https://www.facebook.com/markprogressive   Twitter: https://twitter.com/markprogressive