For many, buying a classic car is the realization of a lifelong dream. Owning a classic car is about relaxation and enjoyment, whether it’s buying a prized example of their first car 30 years later or reliving childhood vacations in a fine example of dad’s old saloon. However, the sheer enthusiasm with which many people approach the purchase can occasionally cause them to overlook the harsh realities of owning and operating a classic vehicle.
The purchase of a classic car requires thought, research, and preparation. Classic car enthusiasts typically purchase them for personal enjoyment. Buying and selling classic cars for a profit is difficult. learn more at LaFontaine Classic Cars regarding how to buy classic cars.
Stick with your plans no matter what
You might come across a tempting project for restoring a classic car in a newspaper, classic car magazine, or online. It might only cost you one or two thousand dollars to buy, but once it is restored, it could be worth ten times as much.
But practically, do you have the skills to restore the interior, exterior, engine, and chassis? If you need to hire a specialist company to do some or all of the work, your precalculated ten times purchase price could end up being worth nothing or very little. In fact, the total cost of restoration frequently exceeds the vehicle’s market value. This may be a fair price for you to pay if you intend to keep the car and enjoy driving it, but in today’s “Cash Crunch” economy, you will have a hard time selling it for a profit.
View it before buying
If you’ve made up your mind to see the car, set up an appointment with the seller. If you can’t make it, let the seller know. It’s just a courtesy to avoid wasting the seller’s time.
Items that you must bring with you: a torch, gloves, a jack, possibly some axle stands for safety, and, ideally, a list of the points you want to look at.
Take a moment to look around once you arrive. This can give you a good idea of how the body and/or chassis will be in the future if the vehicle has been kept outside or in a garage. Are there any other decaying hulks lying around? The seller might just buy whatever junk they can find and try to sell it; the car you’ve come to see probably hasn’t been serviced recently.
We sincerely hope that you found this guide to be useful, that you will be able to avoid pitfalls when purchasing a classic car, and that you will end up with a vehicle that you can use and enjoy for many years to come. However, this is not an exhaustive list. Learn more at LaFontaine Classic Cars.