We all love our BMWs, but eventually, we reach that point where we want to have more than one car in our garage. Starting a BMW collection might sound like an expensive proposition, but you don’t have to break the bank to start your collection. You might even end up making you some money in the future.
It’s important to note that while we’re talking about specifically starting a BMW collection, you can apply most of these tips to any new or classic car collection.
First, Learn the Market
If you’re just in the car collecting game to collect, then this step isn’t as important. If you’re collecting cars as a possible money sink or thinking about collecting cars that you can sell later, learning the market is the best thing you can do for yourself.
The classic car market has cooled a lot in recent years. As long as you’re smart about it, you can still make some decent money with a car collection.
Pay attention to price trends for the cars that you’re considering adding to your collection. Talk to industry experts, especially those that specialize in BMWs. Gather as much information as you can before making a purchase — especially if you’re planning on selling later or want to flip the car and sell it after.
Keep Storage in Mind
You’re not going to want to park your collectible cars out on the street where they could get damaged from the elements or stolen. You want to make sure that you have enough space for your collection, whether you’re planning on storing two cars or 20.
If you have a garage attached to your home, that might be enough for two cars, as long as you’re not expecting to have a lot of extra room. If you’re going to have more than that, it might be worth it to invest in a free-standing garage or storage area on your property.
If you’re going for free-standing storage, consider investing in commercial style garage doors. Not only are they stronger and more secure than most residential options, but they also come in a variety of styles, and you can customize them to make them match your home’s aesthetic.
Maintain Them Well
There’s no point in purchasing collectible cars if you’re going to let them sit and rot in your garage. Take the time to maintain them well, even if you don’t drive them all regularly. Try to get BMW-branded replacements if you need to replace any parts, whether they’re inside or outside the car. Aftermarket parts will do the job in a pinch, but keeping everything BMW-branded will increase the value of the car.
Start Your Collection
Once you have storage and market knowledge handled, it’s time to start picking up some cars. Experts recommend starting with three cars — a daily driver, a show car and one for occasional use. This gives you a fairly balanced portfolio to start out with.
Don’t worry about going cheap if you’ve found a car you love. If you have a model that you’ve got your heart set on obtaining, why not find one that needs a little TLC and turn it into a project car? It might take some effort to turn it into something suitable to show at a BMW concourse, but if it’s a car you really love, it will absolutely be worth the effort.
You don’t need to break the bank to start a collection — unless you really want to, but we don’t recommend it. Start out small and build your collection one car at a time. Take your time to turn it into a collection that you’ll be proud of for years to come.