Amid all the excited talk of the recently revived Ford Bronco and the Ram TRX, everybody seems to forget that these are very expensive vehicles. After all, a Jeep Wrangler Rubicon or a Ford F-150 Raptor can easily cost north of $60,000 from a dealer—and most buyers also have a laundry list of upgrades in mind the second they roll off the lot. For the average owner or even a passionate off-roader, a pristine and expensive vehicle simply isn't in the cars. But today, even reliable classics like the Toyota 4Runner and Land Cruiser have begun skyrocketing in value.
I recently spoke with Hagerty's VP of Valuation Services, Brian Rabold, and at the end of a conversation that ranged from million-dollar Mercedes-Benzes to C3 Chevrolet Corvettes, he revealed that the model he's looking at buying now – with hopes it could appreciate soon – is the often-overlooked Mitsubishi Montero.
Brian Rabold, Hagerty's VP Of Valuation Services
Rabold joined Hagerty when the insurance company acquired his startup, Cars That Matter. Now, beginning his second decade with the firm, Rabold's role has been to evolve the Valuation Tool available on the Hagerty website and app into a wide-ranging, full-featured service that gives classic car buyers an accurate picture of any model they might have in mind to add to their collection.
Somewhat coincidentally, I mentioned to Rabold my own experience with my 1998 Montero and he lit up with enthusiasm, admitting, "I’m shopping for a first-gen Montero right now and I’m telling everybody that those are the next bump in value and I’m trying to get one cause I know it’s going to happen because they’re just too cool."
My Gen-2.5 Montero Or A First-Gen
I'm a huge fan of my Gen 2.5 Montero, which has the Winter Package and about 220,000 miles on the clock. Rabold is more about the first generation, though. He wants a four-door for the family and would prefer a manual, though a two-door would be acceptable if it's in great condition (or even if it's rebadged as the Dodge Raider). Of course, a right-hand-drive JDM Pajero (the name the rest of the world knows the Montero by) could also force his hand.
A confirmed car nut working professionally on nailing down accurate prices, Rabold told me, "Unfortunately, I only drive a Mazda 3 hatchback—but I’m always shopping. I can give you a long list of the cars I’ve missed out on ... My friend was going to sell me his first-gen 4Runner but then he saw the values on Bring a Trailer just going nuts and he backed out.”
Sources: hagerty.com and jalopnik.com.