When a car reaches a point in its life where it is no longer useful, it is often sold off to get scrapped and ends up in a junkyard somewhere. But for a few special cars, people tend to hold onto them and keep them in pristine condition. These cars are classic cars.
The thing about classic cars is that most of them become sought-after collectibles. They are usually cars that were popular during their heyday. Examples of popular classic cars include the Jaguar E-Type and the original Fiat 500.
Growing numbers of people cannot resist the appeal and temptation that classic cars bring. If you are one of those people, you will doubtless be looking for a favorite classic car to buy. But before you go and buy one, you need to read this blog post first.
Why? Because it contains some secret confessions from a seasoned classic car buyer! I’d hate for you to end up buying a lemon, which is why you need to stop and check this page out first! Here is what you need to know.
There is no such thing as too much research
Some buyers worry about spending too much time researching the model they want to buy instead of just going out there and buying one!
Classic cars are more like investments than “just a car.” That’s why it’s important you become intimate with the finer details of your chosen model. There is a high chance that spare parts availability will be low. So you need to make sure that the car you buy can get maintained to a high standard without paying a small fortune.
When doing your research, use the Internet to your advantage. There are bound to be owners’ clubs and online communities on the World Wide Web. Sign up to them so that you can become more familiar with the car you want to buy before you buy it.
You can also determine sources of spare parts. That includes those that reproduce parts like body panels and chassis components. After all; if you have a rusty body panel, it’s better to replace it with a brand new one and get the car resprayed!
Some firms will even use 3D printing technology to “print” spare parts for you in plastic or metal! It’s a cost-effective way of keeping your classic car on the road and reliable at the same time.
Another important thing you need to research is value. You don’t want to pay more for the car you want than you need to so you should check how much a specific car is worth before you make an offer.
Factors that will affect the car’s value include the condition and mileage. Sometimes desperate sellers will accept a lower price just to get rid of the car. That’s useful if you come across someone selling their home or the possessions of a relative, for example.
Check insurance prices before you buy
When you buy a classic car, you cannot insure it with a conventional insurance company. You need to approach cherished car insurance firms instead. They can give you an idea of how much it will cost to insure a specific model.
And once you do buy the classic car of your dreams, you can “agree” a value with them. Those insurers will take into account the car’s condition and any aftermarket parts you might have fitted to it.
It’s not something that conventional insurers will do for classic or “cherished” cars. And so they will just refuse to give you an insurance quote. You should consider approaching insurance companies recommended by an owner’s club.
There are two reasons for this. First, you will get a discounted premium through the club as opposed to approaching them direct. And second, they will have experience of insuring your make and model.
Don’t buy from a dealer
When you buy a brand new car or one that is only a few years ago, you will doubtless buy from a dealer for added peace of mind and less hassle. But this is a bad idea if you want to buy a classic car!
Why? Let me put it to you this way. You are going to buy a car that is twenty, thirty or even forty years old. You need to make sure that the car you buy got looked after well by its current owner.
If you approach a dealer, you have no way to determine or assess the previous owner. A clueless owner might have caused a lot of damage to the car, and an unscrupulous dealer could mask such problems.
But when you talk to the current owner of a classic car, you can learn about what they’ve done to the car and assess how honest they are with you. As an aside, you have more room for negotiation with a private seller than with a dealer. That means you can get the car you want for less!
Take an expert with you
Some classic cars are worth tens of thousands of dollars. When you’re talking about those figures, you need to be sure that the car you buy isn’t a lemon. You don’t want to buy a car with a whole host of hidden issues that the seller won’t tell you about.
If this is your first foray into classic car ownership, take a local expert with you when you go to view some cars. They can assess the car for any known problems and identify any areas of concern.
Armed with that information, you can then decide if that is the car for you or not. You can also use that information to offer less money for the car if you still want to buy it.
The expert will also determine whether the car was used on a regular basis or not. When you buy a classic car, it’s always important to buy one that isn’t used just once a year.
Good luck with your classic car buy!