Many of us dream of coasting down the open road with the wind in our hair in a classic car which causes heads to turn.
Buying a classic car should be a dream come true, but it’s not always simple. Nobody wants to be ripped off or sold a rusty junker.
If you’ve got your heart set on the classic car of your dreams, you want it to all go smoothly. Read on for our 8 top tips to follow when it comes to buying antique cars.
Top 8 Tips to Buying a Classic Car
1. Know what you want
The first step when buying a classic car is to know what you want.
Maybe your grandpa had a rad jaguar when you were a kid. Maybe there’s a classic Chevelle you’ve had your eye on. Whatever it may be, buying a car is an emotional decision.
But, you need to be rational too. Think about the engine size, the cost of maintenance, and how often you’ll be driving it.
Know the specific model you want and try not to go for something too rare.
2. Check your budget
So, you know which car you want, great! What next?
The most important advice here is to be sensible. You have to create a budget and stick to it. You don’t want your dream car to plunge you into debt.
Bear in mind that the initial payment isn’t all you have to pay. You need to think of maintenance, insurance, and taxes if you’re buying from another state.
When you know how much the car will cost to buy and keep it running, you need to stick to that budget.
3. Get the right insurance
Insuring a classic car often costs more than a modern car.
There are some insurance companies that won’t touch a classic car. But there are others that specialise in them. The safest classic cars will have better insurance deals too.
Finding an insurance company that specializes in classic cars. To protect from theft or damage, go for a comprehensive package.
4. Do your research
So, you know what you want and you’re ready to call up some sellers.
When you’re on the phone, you need to get as much information about the car as possible. If the seller seems to avoid certain questions or seems uninterested, move on.
You also need to know where to buy classic cars.
You’ll either be buying from a dealer or a private seller. A dealer is usually pricier but there are legal regulations in place in case it doesn’t go smoothly. A private seller will be the cheaper option but can be risky without these regulations in place.
The amount of risk you want to take it up to you to decide.
5. See rust, run fast
When you go to view the car, be on the lookout for rust.
Rust on the body of the car is often an indicator of deeper problems with the car.
Cars with rusty bodies are often an expensive restoration project. Extensive restoration could strip the car of it’s classic features. They aren’t worth the trouble.
6. Make the offer
You’ve found your dream car, it’s in working order and rust-free. It’s time to make an offer.
Don’t shy away from making a lower offer, you might get lucky. Bear in mind any issues disclosed by the seller and use them as leverage to lower the price.
If the seller isn’t happy with a price as low as you’re proposing, don’t push it. They may cancel the sale altogether. Also, don’t get too excited or the seller may drive the price up since you look like you’re willing.
Stay within your budget and don’t let them tempt you to splurge.
7. Service and maintain
You’ve got the vintage car you’ve always wanted, it’s a dream come true!
If you’ve never owned a vintage car before, there are a few important things you need to do.
You’ll need to start up and drive your car around at least once per month, even if it’s just around the block. Prevent any rust by topping off the tank with fuel stabilizer.
Your car may require some restoration to get it back to its former glory. Velocity Restorations do great restorations and won’t take the charm away.
You can expect more trips to the mechanic, but there are a few things you can take care of yourself.
8. Store it safely
You’ve spent a small fortune on buying, restoring and insuring a classic car. You don’t want to leave it out on the street.
If you have a covered parking garage, you’ll be good to go. If you don’t have a covered parking space, you need to get one.
Look into hiring a dry storage facility to keep your classic car in when you’re not using it. It may be annoying to get to, sure. But it’s nowhere near as annoying as taking care of damage incurred by leaving it out in the open.
You can find dry storage facilities which specialise in classic cars. They are the best way to protect your investment for years to come.
Buying a Classic Car is a Wise Investment
Buying the right classic car can be a fantastic investment.
As the years go by, the value of older cars keeps going up as they get rarer to find.
Driving your classic car around town is a great way to show off and feel free in a car unlike anyone else’s.
If you ever want to sell in the future, some buyers are willing to spend big bucks for the right car.
Enjoy your classic car, you’ve worked hard to get it! Treat her with respect and a lot of care and she’ll thank you for it.
For advice on keeping your car in top form, check out our blog for maintenance tips and tricks.
