Investors opt for prestige car collections
by Gill Montia
Story link: Investors opt for prestige car collections
New research from Aviva indicates that the number of people with four or more top-end cars is on the increase, with some clients owning more than 30.
According to the insurer, a recent surge in the popularity of prestige car collections could be linked to the current economic climate, with investors looking for new ways to secure returns on their money.
Unique and collectable cars tend to hold their resale value, with some changing hands for millions.
The study also suggests that the average annual mileage for such a vehicle is 5,000, while the typical value of the prestige car portfolio is £350,000.
Aviva’s records also put Porsche ahead as this year’s most popular prestige car manufacturer for insurance quotes on its Distinct contract, with Bentley, Aston Martin, Ferrari and Jaguar making up the remainder of the top five.