Bristol business looks to cash in on fastest-growing investment in U.S.: automobiles

Those looking for a wise investment in the pandemic era are speeding past stocks and even the coveted cryptocurrency for something in a cherry red with four on the floor.

Classic US and European automobiles have tripled in value in the last ten years, according to a new study by the New World Wealth group, as investors diversify their portfolios with hard-to-find or rare cars and trucks.

Local real estate developer Jim McGlothlin has launched a new business called Car Barn that offers consumers a new source to make a purchase that can build money interest but fill the need for speed.

Car Barn general manager David Cook says the purchase does more than just padding the wallet.

“And I’ve even heard where (people have said), ‘Man, that car, that’s what I drove when me and my wife had our first date, in that ’58 Chevrolet. I gotta have that car. It brings back memories of days gone by,” Cook said.

Car Barn opens this weekend at 18100 Lee Highway in Bristol, Virginia.

(IMAGE: Courtesy of Car Barn)