If you are considering adding that ‘70s Bronco to your garage, which you just found on Craigslist, you may encounter certain problems associated with classic car purchases. These can range from paying more than the car’s worth to owning a notorious model. So, we have some crucial tips to ensure you secure a great deal.
Set a Budget
Everything revolves around your budget. Recheck your finances, determine an amount, and then decide which car is worth getting. A Mustang from the ‘60s can be a perfect starter, costing just over $25,000. This funding will not only cover the car but also potential repairs, registration, etc.
Conduct Thorough Research
Improper research is a major mistake made by classic car buyers. They close a deal while having only basic knowledge of the vehicle and regret being the new owner. Start by looking for authentic reviews on online forums, as well as personal feedback from fellow enthusiasts and mechanics or through YouTube channels such as Classic Car Restoration Club. This way, you can get enough clues about common problems, market value, restoration costs, etc.
Visit Classic Car Exhibitions
Attending such events will connect you socially to the classic car universe and give you a lot of knowledge essential for someone interested in a purchase. The opinions of the actual owners, along with the display of cars in action, will give you substantial ideas about what you are thinking of getting into.
In-depth Professional Inspection
Many classic car lovers land on a bad deal because they overlook potential problems by not opting for technical inspection. If you don’t want to be one of them, consider seeking professional assistance from companies such as Free State Auto and Lemon Squad for a detailed vehicle inspection. Knowing what you are getting for the price should be your top priority. A deep analysis report of the car’s overall condition helps you determine its actual value, saving you from an overpriced deal.
Avoid a Project Car
If you are on a budget, have no space for work, or simply lack expertise, a project car is something you should avoid. Many restorers believe that even if a project seems simple, it is never as easy or cheaper to work on. So, it’s better to avoid rather than regret it.
Perform a Test Drive
Like the inspection, a test drive is mandatory. Even if the seller is trusted and ensures that the vehicle is road-ready, don’t just trust their word; take the car out by yourself, compare the drive quality with the seller’s claim, and decide accordingly. How it drives says a lot about the condition and can help you access its true worth.
Don’t Overlook the Running Cost
Many individuals get into a classic car deal unaware of the running costs. Popular classics such as an ‘80s Chevrolet Corvette C4 seem affordable, but spare parts, maintenance, and repairs can be costly. These vehicles require significant care to be in operating condition. So, you must consider the running costs before finalizing a deal.
Ensure Spare Parts Availability
Getting a car that is likely to have a spare parts availability issue can be problematic. Classic cars, being old, require frequent maintenance as the parts wear out quickly. If the component you want is not readily available, your car ownership experience will not be ideal. So, research on this aspect is vital to avoid future headaches.
Verify Vehicle’s History
Tracking the vehicle’s history will help you determine if it has been involved in major accidents, the servicing background, and an idea about the mileage. A promising past offers peace of mind when dealing with used cars, so ensure the verification is done. CarFax or AutoCheck can assist in this regard.
Check the Vehicle Identification Number
The VIN is typically a 17-character alphanumeric code commonly found on the dashboard. This number should match the number on the vehicle’s documentation, confirming its authenticity, and will prevent you from owning a stolen or cloned car. Similarly, verify the engine number often found on the engine block. It should match the number on the eighth position of the VIN. Different figures indicate a replacement.
Arrange a Proper Storage
If your current garage is not ideal for hosting a classic vehicle, reconsider your plan to use it. A secure area is necessary for every car, especially classics, because their bodies are less resilient to corrosion due to outdated technology and materials. So, ensure your garage is free from moisture, direct sunlight, and chemical exposure.
Question The Seller’s Knowledge
Are you curious if the car was in good hands? You can estimate this by tricking the seller into a detailed conversation about the vehicle. The transparency in their words will reflect honesty. However, it could be a red flag if they are hesitant to answer specific questions.
Be Patient and Flexible
The prices of classic cars fluctuate according to market trends and availability. If you are patient and flexible enough to wait for the optimal time and price, you will be able to secure a great deal and can even resell the vehicle in the future at a good profit.
Get Reliable Insurance Coverage
Antique and classic cars can be expensive to insure. So, look for a reasonable collector car insurance package, do thorough research, find various options, and then choose which plan is economical and fulfills your vehicle’s needs.
Don’t Invest in Cars You Aren’t Passionate About
The fun of owning a classic car is that it demands your time and money. Therefore, passion plays a vital role in terms of ownership. You must consider buying models that have a good place in your heart and are pocket-friendly. Repenting your purchase is the last thing you may want.
Are You Ready to Buy a Classic Car?
With these tips in mind, your next classic car purchase will likely be successful, as you will be saved from costly repairs and potential scams and have a more confident approach over the seller.
Zainab Noor is a motoring journalist. Childhood rides in Nissan Almera fueled her love for cars. After graduating from AIOU in 2021, she steered her passion into freelance writing. You can find Zainab on LinkedIn.
