- Car collectors are buying DeLorean cars for potential investment opportunities and insuring them under 'classic car' policies
- This classic 80s car was popularised in the Back to the Future movies
- Our customer has driven delighted passengers to school proms in his 'retro' car
If you had the opportunity and ability to buy a 'cool' car, wouldn't you do it? And if, unlike many vintage or classic cars, there was a good chance that your purchase might appreciate in value, wouldn't that be even more appealing? That's exactly what Yorkshire business man John Hesp has done. Oh, and did we mention that it travels in time?
OK, maybe the car doesn't actually travel in time – we're getting a bit carried away due to its 'Back to the Future' connection – but John has a fully working DeLorean DMC-12 in his garage. He insures the car with LV= under our classic car policy and is quick to admit that the time travel movie connection wasn't really why he bought it.
"Yes, I'm aware of the car's relevance with the movies," he admits. "And to be honest, it was my son who said to me 'Dad, we really need to get a DeLorean.' He's of the generation that's familiar with the film series and so it has a whole different meaning to him. For me, however, I was in the market to buy a classic car and I, like many others, was fascinated by the story behind the car."
For those not familiar with the tale of the rise and fall of John DeLorean's car empire (it involves alleged drug trafficking and $175m debts) it's well worth filling in the gaps in your knowledge. But regardless of how the business came crashing down, the fact remains that the DMC-12 epitomises cool. It's the car that you'd want to be seen driving round town in.
"Oh, I've never been the one to drive round saying 'Look at me in my car!'" John laughs. "It's an investment, not something for boasting about." However, he does recognise the appeal of being seen in this popular car and has on occasion taken people to school proms or other events. "It's the look on everyone's faces when you turn up that makes it special. The passenger really feels like they've made the best possible entrance. Who wouldn't?"
With its gull-wing doors and brushed metal exterior, the car is unique, and at the time was compared to other luxury cars like the Porsche 911 or Ferrari 308. So why did Mr Hesp opt for the DeLorean? "I did consider other cars at the time," he confirms. "But the DeLorean just fit the bill at the time. It felt like the right investment and to date it has proven to be the right choice."
Only around 9,000 DeLorean DMC-12s were manufactured in 1981-1983 and in 2007 it was estimated that there were still 6,500 working DMCs in existence – no census has been carried out since. Scarcity has helped the car keep its value, and because the car has a stainless steel body, it doesn't rust in the same way as regular car bodies.
With Back to the Future Day (October 21 2015) being in the media at the moment (it's the 'future' day when 'Back to the Future Part II is partially set) isn't now the perfect time to sell the car? "Maybe, but I'm in no hurry," he reveals, leaning against the car. "Every time I fire up the engine and take it out I remember why I bought it. I mean, would you be in any hurry to sell this?" You don't need to be a time-travelling scientist to know the answer to that.
Ever thought about owning your own fantasy car? Find out whether it's possible to insure a time-travelling DeLorean.