If you’re looking to buy used classic cars, then you may already know that it can be more difficult than shopping for a regular car. It’s important to focus a period of time before purchasing to doing research not only on classic cars in general but the specific car you’re looking to buy. After all, buying used classic cars is a hobby rather than an investment, so you’ll want to make sure your purchase is worth the personal investment.
That’s why we’ve created this beginner’s guide for buying classic cars including tips for buying used cars. To learn more, keep reading.
This is one problem that goes further than used classic cars and can be a good tip for buying all types of used cars. When you’re making a large investment on something such as a car, which will either be a hobby for you or a mode of transportation, then it’s important to make sure you’re purchasing something of value. This means keeping an eye out for all types of body damage – but especially rust.
Rust can be a tricky situation when it comes to buying used cars. It’s especially tricky in the case of buying used classic cars where your goal will be to keep the car as original as possible.
Rust isn’t an unfixable problem. You can sand, replace panels, and repair any of the damage. This is especially true in smaller cases, where only a small, unnoticeable area is affected. However, if large portions of the car are showing off rust damage, then you may find it’s in your best interest to move on. Not only is it a costly fix, but it could also ruin the foundation.
If you’ve ever purchased a car before, then you know that fewer miles on the speedometer mean two things: a higher price and, usually, a more reliable car. However, when you’re buying a used classic car that you’re more focused on collecting and showing off rather than driving to work every day, then it’s safe to focus more on the first option. Checkout our dedicated low mileage classic cars for sale page http://classiccarstop.co.uk/low-mileage-classic-cars/ *****if you could make it a hyper link*****
Higher mileage isn’t a deal-breaker. Just like when buying a regular used car, high-mileage cars can actually offer a financial benefit since the price will have to reflect the mileage. Whether or not a high-mileage classic car is better than a low-mileage classic car really depends on your perspective. From a collectable-only perspective, a high-mileage car can be a great way to increase your collection while managing to cut costs in at least one area.
From an investment perspective, however, a low-mileage car may be the better option. Flipping a classic car for a worth-while profit can already be a difficult task on its own, though, so you’ll want to make sure you’re making the best money-making decisions when buying used classic cars.
Even in the world of used classic cars, trends play a big hand in what’s hot and what’s not. While one-of-one cars are always going to drive high prices, you may find that other cars can steal the scenes each year.
Occasionally, small cars built for speed will be the hot trend of the year. In this case, cars like this will usually sell for more than their bulky counterparts. Other times, big-block cars such as Mustangs and Corvettes – cars with more volume and more horsepower – will be worth more money.
Learning to predict trends can be important in buying used classic cars, especially if you’re looking to invest and make a profit in the future. Classic cars are vehicles over 20 years old, while antique cars are those over 45. The older the car and the better state it is in can help with better pricing.
Right now, car experts are expecting cars from the 1980s to be the next big thing in the used classic car world. These cars are affordable right now, and, if you’re interested in collecting and maintaining them, they can be a great long term investment. It’s just important to understand that “long term” means more than a handful of weeks: it can mean up to ten years, if not more.
Used Car Checklist
At the end of the day, buying a used classic car is buying a used car. This means you’ll want to look into the history of the car that’s caught your eye to make sure it can pass a self-given classic car inspection.
You’ll want to make sure the title is clear first and foremost. Dealing with previous ownerships and missing titles can be costly and time-consuming, and you may find it’s not worth it in the long run. You’ll always want to make sure VIN numbers match, especially in cars built after 1981 when VIN numbers were standardised in the United States. While unmatching numbers aren’t a deal-breaker, they may indicate a major accident.
You’ll also want to examine both the interior and exterior for any damage. This includes rust damage but also missing pieces, dents, or anything that indicates structural damage. Even if you love a car, if it’s a money pit, you may be better off either looking for a different car or looking for a different seller in order to make sure you’re getting the best value for your money.
When possible, test drive the car. This is one of the best ways to look and listen for any major damage or issues that could cause problems in the future.
Do Your Research
We’re lucky to live in an era where technology is – literally – right at our fingertips. Whether it’s your smartphone, your computer, or even a book, it’s easy to learn a lot about buying used classic cars in just a few hours.
Which is why you should use this ability to your advantage.
Learning as much as possible about classic cars, especially those that you know you’re interested in purchasing, can help save you time and money while making sure you’re happy with your purchase.
Think about production numbers, for example.
When it comes to buying used classic cars, especially if you’re thinking about possibly flipping it for a profit or bragging about the rarity of your collection, then you’re going to want to think smaller. This means going after the cars that were built and produced in smaller numbers than other makes and models.
Depending on the exact type of car you’re looking to buy, you may be able to find a wide variety of information online and in books about production numbers. There are some books out there that will breakdown everything for you, helping you to learn all the production numbers while also learning about the availability of different options such as colours.
You can also learn about the rarity of cars. Some things such as motorised windows weren’t a common feature on cars in the mid-20th century. Features like this had to be specially ordered, making cars with these features one of the very few kinds. The features that make customised and unique cars the way they are can drive the price up, making it a valuable among valuables.
Thus, it’s important to learn what is and what isn’t factory standard on the used classic car you’re looking at.