Very unlikely that an old Subaru is going to be an "investment". Even the most valuable old Subaru's - typically the pristine low mileage Brat's, etc - only fetch about $10k. Not very impressive in the scheme of automotive investments. I expect my 1984 GMC Jimmy (K5 Blazer) will be worth $25k+ within the next 10 years. Being I have $5k into it - that's likely a 500% ROI. An old Subaru is likely to have cost more than it's worth by several times over during it's lifetime. The net profit will be negative after you consider the purchase price and all repairs over it's lifetime. It will not be an investment at all. Especially the most common of Subaru's - the station wagon. They are not what people are looking for - sure some people are, and some have fond memories of their parents EA82 they grew up in, etc. But those people will be few and far between compared to more popular and memorable vehicles like sports cars, lifted trucks and SUV's (4x4's), etc. The relative numbers that are available (they are still common), and the lack of demand means there's a surplus of supply - driving down the values. And when people look into owning one they find they can't get parts and service for them - further reducing their viability for collecting - vehicles in this category aren't collected for their rarity or their performance, etc. They are only collected to be used.
The types of vehicles that attain great value are pretty easy to recognize - they are rare, or sporty, or unique, or iconic. Trust me no one is really looking for a Chevy Citation, an 80's S10 truck, a Ford Granada, a Celebrity Station Wagon, or an endless number of other vehicles that are just forgotten history. Why? Because they weren't special. The Subaru EA82 station wagon is not special. And will never be worth anything with the exception of a handful still out there that are basically unused with just a handful of miles on them. Anything with more than 50k miles will be essentially worthless.
GD