Cheap Classic Cars you can buy in 2024
As the COVID bubble bursts, and the car market drops back to sensible prices, is 2024 the ideal time to buy your first or next classic car? With the New Year fast approaching, we have compiled a list of popular classics within several budgets for people to consider purchasing in 2024.
Of course there is no such thing as a “cheap” car, and certainly not a cheap classic car, however we’ve put together a list of some of our favourite classics you can pick up and drive away for under £5,000, £10,000 and £20,000.
Whether you’re looking for a future nest egg or are wanting to experience the thrills of classic motoring, Peacock Prestige have 25 cars that might tickle your fancy in 2024. Our list includes retro Porsches, mid-engine sports cars, motorsport icons, Hollywood heroes and luxury limousines – even V12s!
5 Classic Cars for Under £5,000
Image credit, Porsche AG
1. Porsche 924
The Porsche 924 has been a cheap way of getting into a sports car icon for far too long now. With classic 911 prices sky-rocketing, and anything else Porsche beginning to follow, we can now see that the 924 is creeping up in value.
Originally intended to be badged as Volkswagen’s flagship sports car, Porsche ultimately spearheaded the 924 after Volkswagen dropped out of the joint project in favour of their cheaper, more practical Golf-based Scirocco coupe. Fortunately for prospect owners, this meant early 924 models share many components with Volkswagen and Audi models making for cheaper maintenance costs in 2024.
Prices can start as low as £1,000 for restoration projects with around £3,000 getting you into a road-worthy mid-1980s example. Production ran from 1976 until 1988 on the Porsche 924. Earlier cars are more desirable due to exemptions from Road Tax and MOTs here in the UK whereas later examples are also favoured due to more Porsche-ification as time went on, so a mid-age 924 is going to be your best bang for buck.
Peacock Prestige recommend spending between £3,000-£4,000 which should get you a well looked-after 924 2.0L manual with little over 100k on the clock. Not bad for car praised for its styling, handling, fuel-economy and reliability – and above all, its a Porsche!
What about a minter? Porsche 924 prices are now exceeding £15,000 for a well-presented model and even more if its the more desirable Turbo model. Mint examples are worth over £20,000.
Image credit, RAC
2. Jaguar XJ8
The X308 Jaguar XJ is now 25 years old and comes equipped with a buttery V8 soundtrack. Whilst these executive sedans may not be the greatest investment, they do offer iconic styling and impressive performance at a cut-price cost.
After discontinuing their V12 and |6 models, the X308 XJ only came with eight cylinders and was therefore monikered the XJ8. All of these cars boast luxurious leather seats and iconic Jaguar styling with the 3.2L and 4.0L XJ8 models coming in at as little as £2,000, with closer to £3,000 getting you a particularly nice one with around 60,000 miles on the odometer.
The X308 also offered the second-generation XJR, succeeding the straight-six supercharged X300 with a 4.0L supercharged V8 that set the standard for modern performance cars made by Jaguar Land Rover to this day. Whilst not necessarily the Thinking Man’s choice, the top-end of your £5,000 budget will get you behind the wheel of a 370 horsepower supercharged weapon. However, at this price-point this weapon may do more damage to your wallet than anything else.
What about a minter? The best XJRs for sale are currently sitting at around £14,000 whereas XJR 100 models command slightly more.
Image credit, The Last Minis
3. Mini
Perhaps one of the most iconic classic cars of all time, the Austin / Rover Mini. These little cars have filled our hearts with joy since 1959 and if you plan on buying one then 2024 is the time. We’ve seen these miniature motors creep up in price over the years so if you want to keep things under £5,000 then now is the time to act.
Although reasonably unchanged during the course of its life-span, its the later Rover built Minis that suit our budget – which certainly isn’t a bad thing. The longer the original Mini was made, the better it got. 1980s models, such as the 1.0L Mini Mayfair, boast more luxuries than earlier models and can be picked up with low-miles for as little as £4,000. 1990s examples are generally a bit cheaper with slightly more modern interiors and a more powerful 1,275cc engine with better fuel injection.
Peacock Prestige’s choice would be a 90s car, one of the many special edition variants, with the 1.3L A-Series mated to a manual gearbox. Expect to pay £3-4k for a roadworthy car that needs a little bit of tidying up or up to £5,000 if you want a good one ready to pull off your very own Italian Job.
What about a minter? An original 1960s Cooper S can command as much as £60,000 but a very nice late example such as a low-mileage Cooper Sport might fetch £20,000 in today’s market.
Image credit, RAC
4. MG-F
The Mazda MX-5, for a long time, has been the retro sports car of choice for motoring on a budget. If you want a similar concept small two-seater roadster, but with the added desirability of a mid-engine setup, then the MG-F may be the car for you.
The Mark 1 MG-F was produced from 1995 until 2002 and would be our choice over its more popular Japanese counterpart. It takes styling cues from the Jaguar XJR-15 and Ferrari 250LM which makes the MG-F look great, even in 2024 where market rivals may look a bit dated. The MG-F boasts a 1.8L K-Series engine mounted in the middle of the car, producing 118 horsepower in standard-guise and 143 horsepower in Variable Valve Control (VVC) models.
Prices start from as little as £1,000, or around £1,500 for the VVC version. This is serious bang for buck! With a wide-range of parts still available from the likes of Rimmer Bros, and a huge aftermarket support of tweaks and upgrades, the MG-F is an easy modern classic to own and maintain.
What about a minter? At the moment everything about the MG-F is affordable, with a barely driven garage queen costing you less than £12,000. What would we do? We’d probably have one at the lower end of the market and follow what the MX-5 gang have been doing; upgrading to Bilstein suspension, custom exhaust and some very shiny dished alloys.
Image credit, Celtic Tuning
5. Audi S3
The 1980s was the decade for great hot hatches, but they’re all too expensive now. The 1990s sadly didn’t offer much in the way of great hatches so it was down to the turn of the millennium to pick up the slack. In 1999, Audi followed the recipe of their larger S4 and S6 models to create a fast all-wheel-drive (or Quattro) hatchback using Volkswagen’s 1.8L 20v turbocharged |4 engine producing 210 horsepower.
This marked the first time a four-cylinder engine had been used in Audi’s S-series lineup, something that is all too common in 2024. The Haldex drivetrain adjusts the bias of torque distribution from the front to rear axle as grip requirements change but most of the time operates as a front-wheel-drive. Inside you are greeted by leather dressed Recaro seats (or even Alcantara in some examples) with electronic adjustment – quite the luxury in a hot-hatch we must say.
According to several current listings, less than £5,000 will buy you an ‘immaculate’ 8L model code Audi S3. They all tend to be high-milers but VAG’s legendary build quality suggests this shouldn’t be an issue. The 1.8T engine is a tuner’s favourite with very high horsepower capabilities, so bare this is mind if you’re looking for something to modify.
What about a minter? Well like we said, your budget should get you what seller’s are claiming are great cars. If you want one with lower mileage then you’ll have to spend a bit more.
5 Classic Cars for Under £10,000
Image credit, Porsche AG
1. Porsche 944
Just like the 924, Porsche 944 prices have been increasing over the past few years. The better alternative to its older brother, the 944 offers more aggressive styling and increased performance to an otherwise similarly-styled car.
The 944, unlike the 924, was developed entirely by Porsche to be a Porsche. With the 2.0L Audi engine from the 924 dropped in favour of a 2.5L unit developed by Porsche. The 944 had even better handling, was more refined and had much better performance. The 944 boasts an almost perfectly even weight distribution with 50.7% at the front and 49.3% at the rear in an undeniably 80s sports car package.
Just like anything else Porsche, 944 prices are constantly on the rise but right now they start from £6,000 for a roadworthy 2.5L whereas £8,000 will get you into the driver’s seat of a 3.0L 944 S2. Peacock Prestige recommend a tidy manual 2.5L for around £7,000.
What about a minter? It’s the ever desirable 944 Turbo models that hold the most value, with very low mileage examples fetching close to £40,000. A well-presented 944 2.5 might reach in excess £15,000 in 2024.
Image credit, ALPINA Automobiles
2. Alpina B3 3.3
Another more modern car on our list but a definite classic is the Alpina B3 3.3. For those who don’t know, Alpina are a small German auto-manufacturer who work closely with BMW to create truly special cars. Often misinterpreted as an after-market tuner, Alpina take a blank canvas of a BMW and develop it into an M-Division rival. These cars are registered as a BMW Alpina, although Alpina is actually a manufacturer in its own right.
The B3 3.3 uses the BMW E46 platform (either a 328i/328ci on pre-LCI cars or a 330i/330ci on LCI cars), offering the perfect combination of analog driving experience and modern refinements, with Alpina’s own hand-built 3.3L power plant based on the BMW E36 M3’s S52B32 engine, Alpina’s own perfect suspension setup and an early version of today’s “paddle shift”-style automatic gearbox known as the Alpina Switchtronic; something nobody outside of Ferrari was doing at the time. The result is a rarer, more refined, more luxurious but less powerful alternative to the BMW M3. Although down on power, the B3 3.3 boasts a top speed of over 165mph compared the the E46 M3’s 155mph.
Convertibles are the least desirable and therefore the cheapest; Expect to pay £6,500 for a good roadworthy example with average mileage but good history. Coupes are the most common and can be had for under £8,000 although values are increasing. Saloons are very rare and estates (or touring) even more so, so if its four doors you want for under £10,000 then consider the E39 5-Series based Alpina B10 3.3 (or earlier 3.2) which were available as a manual!
What about a minter? A particularly nice B3 3.3 Coupe with ‘good’ mileage will set you back between £15,000-£18,000. Similar condition Sedans and Tourings are now worth in excess of £20,000.
Image credit, RAC
3. BMW 840i / 840Ci
Sticking with Bavarian examples, the original 8-Series BMW is as cheap as its ever going to be in 2024 before prices shoot up. The successor to the legendary BMW E24 6-Series, these quirky 90s coupes are definitive classics with German V8 goodness.
Whilst it replaced the 6-Series, the BMW 8-Series was essentially an entirely different class of car that demanded a substantially higher price point. Power was delivered from either a V8 with 282 horses or via a V12 boasting between 296 and 375 HP depending on the model. The 840Ci offers a premium package of a luxury coupe with performance figures that are still impressive in 2024.
As with most German cars on this list, don’t expect low-mileage but do look for cars that have been treated well over the years. A well-presented 840Ci will come in just shy of your £10,000 budget in 2024 but £6,000-£7,000 will get you a solid roadworthy example that wants a bit of paintwork.
What about a minter? The best 840Ci are now getting close to £20,000 in value, with a particularly nice sub-100k miles model commanding closer to £30,000.
Image credit, TVR Car Club
4. TVR Chimaera
Perhaps the prettiest of the TVR archive, these convertibles are far from a hairdressers’ car. A 4.0L V8 hurling a lightweight fibreglass shell across the tarmac, whats not to love?
The Chimaera is a two-seater roadster made between 1992 and 2003 in Blackpool, England. The recipe for a TVR is simple; big engine + light car = very fast. Despite intentionally having softer suspension, the Chimaera is low on luxuries and high on driver involvement. Anybody who pilots one of these understands why TVRs are simultaneously so brilliant yet so very awful. The Chimaera uses modified versions of Rover’s V8 engine and LT77 manual gearbox to create the ultimate drivers’ car.
These beasts are likely to consume your entire £10,000 budget, with 4.0 models commanding just shy of this, but we can’t think of a better way to spend that cash. 0-60mph in 5 seconds.
What about a minter? Some would argue there’s no such thing as a ‘mint’ TVR, but low mileage examples in good condition are upwards of £20,000. The most valuable being professionally restored Chimaera 500 with exceptional paintwork being valued north of £30,000.
Image credit, Historics Auctioneers
5. Ford Sierra XR4x4
In recent years we’ve seen sporty Ford prices explode. Anything with an RS sticker has doubled in value and anything with a Cosworth badge has proven to be a very worthy investment indeed. The next ones to go will be the late 80s XR models, and our car of choice is the Sierra XR4x4.
The 1987 facelift Sierra is in our opinion the prettiest offering, so partner that with a 2.8L (or 2.9L) V6 and a surprisingly good all-wheel-drive system and you’ve got a pretty hot motor full of 1980s charm. The looks of the XR4x4 may not have the angst of the Cossies but it is undeniably sporty; featuring a tailgate spoiler, 14-inch alloys and a velour interior. The Cologne V6 produces 150 horsepower, achieving a pretty impressive 0-60 time of just 7.8 seconds.
A good roadworthy XR4x4 is going to cost around £7,000 in 2024. That’s a third of the price of a Sapphire Cosworth and about 1/10th of the amount you need to pay for the original RS Cosworth.
What about a minter? There seems to be a shortage of XR4x4s on the market at the moment, but one that’s undergone a mini-restoration is going to cost you over £10,000.
5 Classic Cars for Under £20,000
Image credit, AROnline
1. Rover SD1 Vitesse
“My dad had one of those!” Well, maybe not a Vitesse but we all knew somebody with a Rover SD1. These BTCC legends are hard to come by in 2024 but are well worth your investment. Low-slung styling, a grumbling V8 and a large boot for shopping. What more do you need?
In 1976, Rover disrupted the executive saloon car market with the all new SD1 3500. A 3.5L V8 powered 1977 European Car of the Year, the sportier Vitesse variant was made famous by the likes of British Saloon Car Championship driver Andy Rouse before Tom Walkinshaw took to the European Touring Car Championship in his TWR Rover Vitesse. Not only were SD1s being raced on the big stages, the cars became popular with British Police forces too.
Many SD1s were sadly left to rot away during the 2000s when values were at an all time low. That means these British icons are getting rare in todays market. Expect to be paying in excess of £15,000 for a Vitesse that has covered more than 100,000 miles. A genuine homologation “Twin-Plenum” model commands an even higher premium but is certainly a more desirable prospect, with only around 500 of these models ever manufactured. Wrongly accused of bad build quality, not helped in-part by the later tarnishing of the Rover brand, these fast executive saloons live up to their tagline of “Leader by nature. Paris by lunchtime.”
What about a minter? Expect to pay in excess of £30,000 for a restored Twin-Plenum with less than 100,000 miles on the clock. Worth every penny if you ask us.
Image credit, Honest John Classics
2. Lotus Esprit Turbo
Whether you are a ladies’ man like James Bond or more of a Richard Gere in Pretty Woman, a Lotus Esprit is a great car to pick up girls. At under £20k you can pick up an X180 model code Lotus Esprit Turbo from the late 80s or early 90s.
Who’d have thought you can pick up a good condition 35-year-old mid-engine 2.2L turbocharged Lotus Esprit with a 0-60mph time of just over 5 seconds for under £20,000 in 2024? As with all Lotus cars, the bodywork is fibreglass so there’s no rusty arches to worry about which is always a plus when it comes to classic car ownership. Whilst they may not be as iconic as the earlier models, we think this age of Esprit might just be the best looking; proper supercar styling.
Starting from around £17,000, 2024 is the perfect time to buy an Esprit before prices increase. The earlier models have already shot up and we think these are next.
What about a minter? How long is a piece of string? Lotus Esprits are cars with a strong following so prices can reach huge numbers. For the best X180 Esprit Turbos, you are looking at over £40,000 for a recently restored example with high-quality paintwork.
Image credit, Prestige & Performance Car
3. Jaguar XJR-S TWR
There’s not many V12 engine sports cars you can get with a £20k budget, but the Jaguar XJR-S TWR is a fantastic choice! The XJS blends sportiness with luxury to create a perfect package of classic motoring.
The XJS 5.3L V12 was already a great car, but the XJR-S 6.0L was an even better one. In 1988, Jaguar and Tom Walkinshaw Racing formed JaguarSport to produce an 5.3L XJR-S with a low-drag bodykit, 15-inch alloy wheels and uprated suspension. In 1989, displacement was increased to 6.0L to develop 333 horsepower. The result is one of the greatest GT cars of all time built on the rich history of legendary auto-manufacturers Jaguar and esteemed racing success of TWR. Most examples will be mated to an automatic transmission, as manual gearboxes are very rare and thus demand a higher premium.
For just under £20,000 you can get behind the wheel of a large displacement V12 sports car made in collaboration between two motoring icons. 5.3L examples are generally cheaper but your £20,000 budget will get you a nice 6.0L.
What about a minter? These cars are extremely rare, so sales are few and far between. A particularly nice one with fresh bodywork can reach over £35,000.
Image credit, Pistonheads
4. Aston Martin DB7 Vantage
When Aston Martin revived the ‘DB’ moniker in the late 90s, they essentially began the ascent into what Aston Martin is today, and the car that started it all was the DB7. Originally a supercharged inline-six, in 1999 the engineers at Aston decided they needed more power and the courier chosen to deliver those goods was a 5.9L V12 – creating the DB7 V12 Vantage.
Whilst beginning the new-era of Aston Martin, this car was the last time the “Vantage” name had any real meaning. Vantage used to be the best of the best, whereas it would later become Aston’s base model coupe. The 5.9L V12 produces 420 horsepower and 400 lb ft of torque, hurling the DB7 V12 Vantage from 0-60 in under 5 seconds. The inside is quintessentially regal with piped leather and burled wood but also captures the sporty essence of what’s under the hood. Our money is more likely to get you an Automatic however a Manual option is available for those with deeper pockets.
Expect to pay upwards of £15,000 for a DB7 V12 Vantage in 2024 with decent mileage and a fabric roof. If you want a coupe then you’ll need the majority of your £20,000 budget. Of course a straight-six model can be picked up at a much lower premium and is still a great car, but for our money we’d choose the top dog.
What about a minter? Most of these Astons have been well looked after during their lifetimes but particularly nice cars can exceed £40,000 in 2024.
Image credit, Road & Track
5. Mercedes 190E 2.5-16 Cosworth
Not a Ford Cosworth but a Cosworth nonetheless, the Mercedes 190E 2.5-16 is based on the W201 four-door family sedan platform but with a DTM homologation twist. The result is a 200 horsepower Mercedes-Benz built rival to the famed E30 BMW M3.
The engine is based on the 2.3L 8v four-cylinder M102 engine but increased to 2.5L with a Cosworth developed cylinder head with overhead camshafts and four valves per cylinder (16 valves), thus the name “2.5-16”. The more desirable model is actually the earlier 190E 2.3-16 but for the sake of this list we’ve chosen the 190E 2.5-16.
Again, they’re all high-milers, but as little as £16,000 will buy you a roadworthy Cosworth with a dogleg manual gearbox. That’s an appealing prospect to any petrolhead! Our choice would be the half houndstooth cloth over the full leather interior, with a darker exterior.
What about a minter? The best examples of these cars, even with high-mileage, are known to exceed £30,000. That means there’s plenty of room for restoration if you buy a 190E 2.5-16 for under £20,000.