why classic car values will change dramatically over the next decadeThe next major wealth transfer in America may not just involve houses, stocks, or artwork. It will also include millions of classic cars sitting in garages, barns, storage units, and private collections across the country.Roughly 12 million collectible vehicles are expected to change hands over the next 15 years as part of what economists have dubbed "The Great Wealth Transfer." Altogether, those vehicles are estimated to represent around $570 billion in value. But some of that value is entirely dependent on the next generation willing to buy and maintain these cars.That's just a slice of the estimated $90 trillion expected to pass from baby boomers and the Silent Generation to younger heirs in the coming decades, but for enthusiasts and collectors, the automotive side of that equation is becoming increasingly significant.why classic car values will change dramatically over the next decadeHagerty estimates there are currently more than 43 million collectible vehicles in the United States. The company defines a collectible car as one valued for its design, legacy, or performance, which covers everything from pre-war classics to modern performance cars that have already started gaining enthusiast value.AdvertisementAdvertisementIn other words, the sports car sitting under a cover in someone's garage may no longer just be a hobby. In some cases, it's a major financial asset.The collectible-car market in the U.S. now carries an estimated $1 trillion in insurable value, according to Hagerty. But unlike stocks or real estate, classic cars come with unique complications. Ownership costs can quickly pile up, and value is uniquely tied to individual and generational tastes-plus sentimental value often makes inheritance decisions far more emotional.Bloomberg highlighted the case of one 1965 Studebaker owner who reportedly spent more than $40,000 maintaining and storing the car over the years before finally deciding to sell it. The costs eventually outweighed the enjoyment."The amount of money it cost to just get it running was ridiculous," the owner told Bloomberg. "I would have rather put the money into cars I liked."why classic car values will change dramatically over the next decadeStill, plenty of collectors are seeing substantial appreciation in long-held vehicles. One example involves a 1962 Jaguar E-Type inherited by a collector in England after his father originally purchased the car in 1972 for just £700. Even after spending thousands rebuilding the engine, the car's current market value far exceeds the investment.AdvertisementAdvertisementSimilar stories are playing out worldwide as classic cars increasingly become generational assets rather than simple enthusiast toys.But that transfer process can get messy quickly.Estate attorneys say collectible vehicles frequently become sources of family disputes because they often carry emotional weight beyond their financial value. One sibling may see a car as a treasured connection to a parent or grandparent, while another views it as an expensive burden requiring storage, maintenance, and insurance. Realized value is entirely dependent on someone showing up with a check on the other side of the transaction. Will Gen Z buyers really care about a 1955 T-Bird the same way a Baby Boomer does?California estate-planning attorney Klaus Gottlieb told Bloomberg that vague inheritance instructions often create conflict, especially when valuable collector vehicles are involved.why classic car values will change dramatically over the next decade"For one sibling, it might feel like a sacred connection to the person who died," grief therapist Claire Bidwell Smith explained. "For another, it might represent responsibility, burden, or even resentment tied to the relationship."AdvertisementAdvertisementUnlike many other inherited assets, collectible cars also present practical challenges. Some heirs may have little interest in maintaining older vehicles, while others may lack the storage space or financial resources required to preserve them properly.Fortunately for most families, inherited vehicles generally avoid major tax complications. The United States currently has no federal inheritance tax, and federal estate taxes only apply to estates exceeding roughly $15 million per individual. In many cases, taxes only become an issue if the inherited car is later sold for significantly more than its appraised value at the time ownership transferred.Even so, experts expect the coming wave of collector-car transfers to reshape portions of the enthusiast market as younger generations decide which vehicles are worth keeping, restoring, selling, or letting go entirely.Become an AutoGuide insider. Get the latest from the automotive world first by subscribing to our newsletter here.