Buying a classic car can is an exciting and nerve racking process. If this is your first time on the classic car market, you may have no idea where to start. Even those who have purchased and refurbished classic cars in the past could benefit from a fresh approach to the process. After all, there are unique temptations and considerations that can impact your experience buying a classic car. If purchasing a classic car is in your future, here are six tips to ensure you get the most out of your classic car buying experience without making any expensive mistakes.
Stick to Cars You’re Passionate About
This may sound reductive, but it’s easy to get distracted from your ideal car by a vehicle that seems like a good deal. Buying a classic car is a commitment, and you shouldn’t have to compromise on your investment. If you can’t imagine yourself proudly showing this car off to friends, family and other enthusiasts at a car show, keep moving. The right car will keep you excited enough to finish all the work you’ll need to put into it.
Don’t Overlook the 80’s
A number of popular classic cars had excellent models on the market in the 1980’s. Think about all those impressive vehicles you saw on TV shows in the 80s, such as the Camaro IROC-Zs or Buick Grand Nationals, are now beloved performance cars. In a few more years, they will be considered truly vintage, which will have an impact on their selling price. If you’ve been eyeballing an 80’s classic, now is a great time to buy one. By the time you’ve finished fixing it up, the value and demand for it may well have increased substantially.
Don’t Get Suckered by Cosmetics
A perfect paint job for a classic car can run thousands of dollars. That’s one reason why buyers will almost always flock to a flawless cherry red convertible. They respect the work that goes into it and can immediately picture themselves at the wheel. If you want to get the most bang for your buck, remember that you can finish the car of your dream in any color you want. The same is true for upholstery. The mark-up for a well-redone car may far exceed the cost of doing it yourself.
Research Before You Buy
This may seem basic, but many an entry-level classic car enthusiast has gotten ripped off because he or she didn’t look into market pricing before a show. Just because the price seems right for the condition of the car doesn’t mean it actually is fair. Take the time to look into the specific makes you’re interested in and find out what price range they typically sell in. Depending on condition, you could save a lot of money by looking for vehicles with a fair market asking price.
Mileage Means Less with Classic Cars
You may think that a decades-old car with less than 100,000 miles on it is the ideal purchase, but that isn’t always the case. Typically, even those who put a lot of miles on their show cars still invest a massive amount of time and energy into their upkeep and maintenance. It’s also important to remember that being left in storage for long periods can lead to deterioration, just like driving it too much can. Don’t let the number of miles determine the value of the car. Look at maintenance records instead of just the odometer.
Rare Vehicles and Features Make for a Better Investment
It’s simply supply and demand. The most mass-produced vehicles have more used versions out on the road. That means they command less on the open market. Similarly, cars that have unusual features, like an upgraded engine, special factory-installed spoilers or even motorized window controls can command a much higher price when the time comes to sell your classic car.
At Mondello Performance, we’re passionate about classic cars of all kinds. To learn more about our products, visit our website today!
Image courtesy of Pixabay.com.