Photo: Hagerty
Every year, Hagerty Insurance releases a list of ten vehicles that they think are about to shoot up in value. This year, the boxy but lovable Volvo 245 has made the list and we're here to break down why there's never been a better time to put one in your garage.
We've already covered bits of this list, like why a $400,000 Ferrari Dino is considered a bull-market buy right now. The beauty of the list though is that many cars are still attainable like the Volvo 245. Here's a quick refresher on what it actually is.
Many think of the Volvo 240 when they see this wagon. In all actuality though, 240 just stands for the type of Volvo in much the same way that S-Class isn't a specific car either but a type of Mercedes. The 245 then is the five-door version of the 240 series.
Other famous Volvo's like the 850R and the V70 R-Design are already high-priced in the used market. The 245 though, is still just under the radar. For $10,000 it's not too hard to find one in excellent condition. Think too of the practicality of the 245.
It is, after all, a wagon. So moving things from A to B or shuttling around friends is no big thing for it. In addition, Hagerty rightly points out how much fun such cars can be to work with.
"Parts and performance upgrades are readily available, and it is not hard—or expensive—to DIY turbocharge your own 245 with some friends in a weekend." That's key too because, unlike the Ferrari Dino mentioned at the outset, the 245 can be modified without destroying its value.
Remember that while you're using this boxy beauty, it could very well be appreciating in value too. Last year, the 245 saw a 5% increase in value. It also has interest across the entire age demographic from Boomers to Gen X and even Millennials. Time to go online Volvo hunting.
Many think of the Volvo 240 when they see this wagon. In all actuality though, 240 just stands for the type of Volvo in much the same way that S-Class isn't a specific car either but a type of Mercedes. The 245 then is the five-door version of the 240 series.
Other famous Volvo's like the 850R and the V70 R-Design are already high-priced in the used market. The 245 though, is still just under the radar. For $10,000 it's not too hard to find one in excellent condition. Think too of the practicality of the 245.
It is, after all, a wagon. So moving things from A to B or shuttling around friends is no big thing for it. In addition, Hagerty rightly points out how much fun such cars can be to work with.
"Parts and performance upgrades are readily available, and it is not hard—or expensive—to DIY turbocharge your own 245 with some friends in a weekend." That's key too because, unlike the Ferrari Dino mentioned at the outset, the 245 can be modified without destroying its value.
Remember that while you're using this boxy beauty, it could very well be appreciating in value too. Last year, the 245 saw a 5% increase in value. It also has interest across the entire age demographic from Boomers to Gen X and even Millennials. Time to go online Volvo hunting.
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