Eight affordable classic cars under £30k that have gone up in value this year – and they all evade ULEZ charges

You don’t have to be a millionaire or hard-nosed petrolhead to invest in value-gaining classic cars.

While many see motor collectors as well-heeled obsessives trying to out-bid each other for Ferraris of particular vintages, we’re here to tell you that there’s plenty of scope in making money out of classic cars at the more affordable end of the market.

In fact, if you can find one of the eight models recommended by classic car experts at Hagerty, you’ll be getting your hands on a vehicle accelerating in value in 2023 by as much as 41 per cent.

Not only that, for those living in London and other major UK cities, they could also reduce your daily driving costs. 

That’s because each one evades charges for emissions zones, including London’s recently expanded Ultra Low Emission Zone (ULEZ) and costly Clean Air Zones (CAZ) in Birmingham and Bristol. 

Affordable classics that can make you money: The MkI VW Scirocco is one of the eight cars recommended by Hagerty as an appreciating asset in 2023. It’s also a motor that will see owners avoid ULEZ and CAZ daily charges to enter London, Birmingham and Bristol

We asked Hagerty to compile a list of modern classics that have seen a rise in average values between the beginning of the year and the end of September.

They all have to be affordable, with the price capped at £30,000 – that’s much less than the average new car price today, which Auto Trader claims is almost £40,000.

We also requested models that aren’t ultra-rare, meaning there should be plenty of examples still on Britain’s roads that people can track down with relative ease. 

And the last requirement is for these to be cars that were launched more than 40 years ago, meaning they are ULEZ and CAZ compliant and therefore avoid daily charges.

This also means they no longer require an annual MOT test and qualify for historic vehicle taxation, meaning no VED payments for their owners. 

John Mayhead, editor of the UK Hagerty Price Guide, told us that the average classic car tracked by the company has risen in value by just 1.1 per cent of average so far this year.

However, he says the eight vehicles below represent those that are ‘still relatively affordable classic cars that are appreciating more quickly than inflation’. 

He added: ‘The cars on this list are true classics: instantly recognisable, offering a great analogue motoring experience and giving the owner an entry ticket into a supportive world of enthusiasts and events that offer fun and sense of belonging.’

Below are Hagerty’s recommendations.

The average prices are based on ‘excellent’ examples – this means they mechanically run well and have been cared for by previous owners with barely any blemishes to the paintwork or interior. 

Willys-Overland MB Jeep (1941-1945)

A Willys Jeep might not be the most practical of machines to get about London and other cities with Clean Air Zone charges, but if you want an appreciating vehicle that will save you on the daily commute, it is an option

The Willys-Overland and its near-identical Ford GP ‘Jeep’ is one of those vehicles that almost everyone can identify whether they are car fans or not. 

Forever associated with hordes of GIs darting about the British countryside as they waited for D-Day, the Jeep remains an icon. 

Their utter ruggedness also makes them a superb classic: there’s no interior trim to break, they can be driven almost anywhere, and you can pack in the whole family. 

Values, especially of authenticated WW2 vehicles, rose sharply a few years ago, but then settled back. 

This year, Hagerty’s prices started to creep up again, gaining 5 per cent.

VW Scirocco MkI (1975-1981)

VW’s wedge-shaped coupe is starting to be a little more appreciated in 2023 with values up 6% in the last 9 months

There has been a recent surge in demand for angular performance cars of the 1970s and ’80s. 

Audi Quattro Ur values have soared, as have the best examples of Alfa Romeo Alfetta GT and GTV6s. 

VW’s wedgy sport hatchback was the Scirocco, launched in 1974. Like the Alfetta, it was designed by Guigiaro, and featured a range of inline four-cylinder engines. 

This year, Hagerty’s early Scirocco values have risen, especially the rarer GTi and Storm models, both of which saw a 6 per cent increase.

Rover SD1 (1976-1986)

Rover’s SD1 is starting to get a fresh cult following. The 3500 versions (pictured) with the 3.5-litre V8 are the ones to look out for if you want an appreciating asset, Hagerty says

The SD1 had such a road presence that it instantly turned the heads of a generation of drivers. 

Aimed at those who considered themselves to have ‘made it’ and wanted a powerful, luxurious, British car, the car was initially offered in 1976 the UK with a 3.5-litre ‘3500’ V8 engine. 

Despite poor build quality at first, the model range was expanded to cover numerous variants and engine sizes over the next ten years. 

This year, Hagerty have noted a 6 per cent rise in the values of the very earliest cars in particular, a gain that in numerical terms is not huge, but shows increased interest in this piece of ULEZ-busting motoring heritage.

Mercedes-Benz 280SL R107 (1980-1985)

The 1980s Mercedes SL convertible has long been considered a desirable classic, but the 280SL with the relatively smaller engine has often been overlooked. Until now. Values have increased by 10% in the first 9 months of 2023

The 1980s (R107 model) Mercedes-Benz SL is one of those cars that is instantly recognisable as a true classic. 

In recent years, more and more owners have invested in full restorations, and the very best examples of the larger-engine variants now retail at close to £100,000. 

The 280SL isn’t quite as desirable thanks to its relatively smaller 2.7-litre engine, so values are more affordable, and really good ones are still advertised at under £30,000. 

This year, Hagerty saw a 10 per cent rise in their value, a trend that is likely to continue next spring.

Mini MkIV 850 City (1976-1984)

The Mini MkIV 850 City is another classic that not only qualifies for ULEZ exemption but is also going up – moderately – in value this year

Of all the Mini variants on the market, the Mk IV 850 or its facelifted version the City, probably isn’t the one everyone aspires to. 

As the entry-level model with an 848cc engine, it didn’t even come with a passenger sun visor; not quite the Cooper S that had won the Monte Carlo Rally. 

But today, this basic Mk IV Mini looks every inch the classic, offers lots of potential for upgrades and great value for money. 

Buyers agree: Hagerty values have risen an inflation-busting 10 per cent since December 2022.

Alfa Romeo Giulia Super (1965-1972)

While the Giulia GT and GTV coupes and Spider convertibles are the models that are most in demand, the average value of the super saloon is now starting to show signs of rising too

Fifteen years ago, even the best examples of the Alfa Romeo Giulia Super saloon were only worth a few thousand pounds.  

That’s because every collector wanted their glamorous coupe siblings, the 105 Bertone-bodied GT and GTV coupes, and their topless sisters, the Spiders. 

But then, a few of these saloon-bodied cars started to show themselves on the racetrack as really very competent cars. 

Suddenly, buyers realised that all the hot engine and chassis upgrades you could fit to a GTV, you could also fit to one of these, and there was no body flexing, as there was with the Spider. 

With good examples of 1960s coupe and Spiders now north of £50,000, the Super looks like great value, and prices keep creeping up, this year alone adding 17 per cent.

Fiat Panda MkI (1981-1986)

If you’re after a small and affordable runaround that’s relatively easy and cheap to fix, a Mk1 Fiat Panda is worth a punt. Values of standard ’45’ models have grown 20% in 2023 so far

Another ground-breaking car released in 1980, the Fiat Panda was the company’s attempt to maintain their dominance of the mini car sector, following such stars as the Topolino, the Fiat 500 and 600, and the 126. 

The Panda was a great success, and any visitor to the Alps will know that these first generation models remain very popular, especially in 4×4 guise. 

Today, there are more on SORN than on the roads, but remain popular with enthusiasts. 

This year, Hagerty have seen a £700 – around 20 per cent – increase in values for the standard ’45’ model.

Ford Escort XR3 MkIII (1980-1982)

This 1981 Ford Escort XR3 sold for a record price of £33,750 earlier this year. However, it have just 992 miles on the clock from new

The MK III Escort XR3 was Ford’s response to the Volkswagen GTi, and this model was the first in a line of eighties blue-oval hot hatches. 

But while the Escort RS2000, the RS1600i, and the Sierra RS Cosworth have all risen in value, the early, carburettor-fed XR3 model remained slightly unloved. 

This year, that seemed to change, with a huge 41 per cent added to its value. 

A milestone was created at this year’s Iconic Auctioneers Silverstone Festival sale, when a 1,000-mile-from-new example sold for a record £33,750.