6 Tips For Buying A Classic Car
Buying a classic car can be a real adventure and there is plenty to learn.
To help you find the perfect classic car for you, pay attention to these six tips.
1 . Do your homework
If you’re in the market for a classic car the first step is to do your homework. You’ll want to have an idea of models, features, trends, market prices, and so on.
To help inform your research these are some of the top classic car magazines:
- Muscle Car Review: This magazine is perfect for both novices and classic car experts. If you’re keen to learn about vintage cars, this publication can give you the low-down.
- Classic Motorsports Magazine: Vintage cars shouldn’t just be for display purposes, this magazine focuses on the classic cars that people love to drive!
- Hemmings Classic Car: Learn all about trends, events, news, and the most sought-after classic vehicles.
2. Choose a reputable dealer
When you’re purchasing a classic car you’ll need to choose a reputable dealer. You’ll want to find a quality dealership that you can trust, with plenty of experience. Ensure that you carry out research and check the dealership credentials. Set up an initial consultation with any car dealership that you’re considering. Ask them all your burning questions, and check out the range of classic cars. Whether you’re looking for a Chevy Luv truck or a Jaguar Mark II your dealer should be able to answer any questions you have.
3. Inspect the vehicle
Remember, any good dealer will have no issue with you bringing in a third party to inspect the car and ensure it’s up to the required standard. Inspect the exterior for signs of cosmetic damage, and take a test drive to see how the car performs. Note down any problems that you find, and raise these right away. If you’re not confident to inspect the vehicle yourself you might want to hire a classic car expert.
4. Insurance options
Naturally, you’ll want to get the best insurance deal possible on your classic car. The basic definition of a classic car is that the vehicle must be 20 years old at least, with a value of $20,000. Although this is the standard definition, not all insurance companies follow this criteria. Find out how much liability insurance coverage you will need.
When you’re choosing an insurance company you’ll need to check how they define ‘classic cars’ and if your vehicle makes the cut. It’s recommended that you choose a specialist policy for classic vehicles as opposed to a standard policy.
5. Investment perspective
If you’re purchasing a classic car as an investment you should find out which classic cars are currently increasing in value. According to Hot Cars, the following classic cars are set to increase in value over the next few years:
- Honda S600 – 1964
- Renault 5 GT Turbo – 1986
- Ferrari 328 – 1985
Buying a classic car is all about doing your research and finding a quality dealership that you can trust. Figure out which vehicle you’re looking for before you start shopping, including an idea of the market price. There are so many benefits of a classic car, you can find some beautiful vehicles with plenty of charm.