If you are thinking of buying a classic car that is time-consuming to recover, it may take months or even years before it becomes roadworthy, then you should think twice before buying. You need to keep in mind all classic cars are not a strong investment.
Why are you buying a classic car? Understand your purpose before making your purchase which will not make you regret it in the future.
This article will cover a classic car buyers guide that will make your purchase a great investment.
What to know before buying a Classic Car? – Buyers Guide
You should know a few facts before purchasing a classic car. These will help you to have what you desire within your budget.
Purpose of buying a classic car
First, you have to be determined why you want to buy a classic car. You may want a car that your dad owned years ago or one that you held as your first car years ago, and now you are trying to re-own that, or it could be the one you always wanted but never had the opportunity.
There you may also have other reasons to buy a classic car. If you have a lot of spare time, money, and dedication to restore an old car, it can be a perfect reason to buy a classic car.
Also, it matters if you will drive it daily or on weekends or sit in the car in your garage and rarely get used. Deciding the purpose of buying a classic car will help you choose the right one.
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Establish a budget
Now it’s time to decide how much you would be able to spend on an old car. Spending on a classic car is not just paying for the purchase. It has another side where you have to spend to make it drivable.
Sometimes you may have a bargain car, but it will cost you a considerable amount for restoration, repair, and maintenance. So it’s better to have an idea of how much a car will cost you and whether it is worth the money or not.
Choose the model you want
After deciding the purpose of buying a car, now it’s time to determine the year and model of the car you want to go with. Many older classics are still usable on an everyday basis. If you wish to charm more than speed, you can go for pre-war cars.
The post-war car, which is from the late 1940s and 1950s, has chassis construction, they are trickier to restore, but maintenance is effortless. You can search for different eras to look for the car you want. You have to choose the car model and year depending on how you use it.
Look for a suitable investment
Before investing money in an old classic, you must ensure that the car is worth the money. They need restoration, servicing, storage, maintenance, insurance, etc. Though all that requires money and time, it is better to know first if your car is worth all the cost you will spend on it or not. Don’t spend too much, and set a limit for it.
Research before buying
Before you buy an old classic car, you should research the car you are interested in. You should go on research if the car models have any issue and if it is resolved. Other classics may have different issues like some may not have available spare parts or having electrical problems etc.
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Checklist to Buy a Classic Car
If you have already chosen a classic car, you still have many things to look at. These are called the checklist. These know the car’s actual condition and will help you decide if it is a fair deal for you.
Look for the paperwork
It’s essential before you purchase a car to check for the paperwork. For any used car, paperwork will allow you to know the car’s history. If it had any servicing, accident history, and how it was maintained, you would learn everything in this way.
Ask for the VIN
Looking for the VIN is also essential. It will help you know if the car is registered to the seller. With VIN, you will get the history report to ensure the vehicle is not stolen or has any massive issues.
Take a Test drive
It’s essential to make sure before you make any deal that the car is drivable or not. For that, you should take a test drive. With driving, you will know if there is any driving issue, issue in the break, gear shift knob, spare wheel, tires, or any strange noise when driving. A can be immobile and may only need a battery to run or another minor repair. Make sure about the mileage of the car too.
Check the interior
If you want a classic car in good condition:
- Check its interior condition.
- Check if all the parts are functioning correctly or not.
- Look for if anything is damaged and needs repair or replacement.
- Open the car hood to check the battery, engine, and hoses.
Check the Exterior
Check the exterior and look for dents, rust, and any other sign of damage on the body. You can do it on your own. Look out for welding marks on the body that signifies past damage and paints quality. Also, you have to check if there are scratches or misalignment in panels or missing trim and look beneath the car. The windscreen is also essential to inspect for chips or cracks. Inspect all the tire conditions, including the spare one.
Go for a professional inspection
Suppose you do not have any experience with cars, then you must go to a professional for checking. A professional inspection will make your car inspection easy and get you all the required information. It may send you some money, but it will save you a lot in the long run.
Have an appraiser look
For buying a classic or antique car, you should go for an appraiser to look at your car. They are experts in antique vehicles. So they will be able to give you more precious information about the vehicle. They can provide you with information about whether the parts like the engine, transmission, and other vital components are original or not. They will help you know the current market value of the car you will buy, which is essential for fair negotiation.