Classic Car Buying Guide: Tips for Purchasing Your Dream Car
Classic Car Buying Tips & Tricks
Tip #1 – Choose a Trusted Seller or Retailer
Just as you would when shopping for a modern vehicle, choosing the right classic car retailer or seller is essential to ensuring a smooth and worry-free shopping experience. While you might find options from private party sellers or online auction houses, choosing a dedicated classic car dealer like Basil Classics is the best way to shop for the ride of your dreams. Since these dealers specialize in classic and antique automobiles, you can expect a more knowledgeable sales staff along with a better-trained service team that’s familiar with the unique needs of a classic car. The end result is more information and peace of mind for you as a buyer, two outstanding perks not typically found on the private seller market.
Tip #2 – Research the Car’s History
Knowing as many details about a classic car’s history is essential to determining its fair value and deciding if it’s the right car for you. No matter if you’re searching for a 100% original museum-quality example or you’re interested in a turn-key driver to enjoy on the weekends, vehicle history plays a big role in the shopping process. Unfortunately, vehicle history reports from names like CARFAX or AutoCheck often only go back a few decades and offer extremely limited information for pre-1990 vehicles. This means that often you have to rely on the seller to provide you with restoration information, service records, and even a partial ownership history. Even if the vehicle lacks extensive details related to its history, you can still take the time to ask the seller about the originality of its parts and receipts for any recently completed work. Fully documented vehicles command higher prices compared to those with an unknown past. Take some time to do your homework and acquire all of the information related to your vehicle of choice in order to make the smartest decision possible.
Tip #3 – Understand the Difference Between Original, Restored, and Resto-Mod
Especially if you’re new to the classic car world, there might be a few terms that you don’t recognize. Three of the most common categories that a classic car will be designated with include original, restored, and resto-mod. While all three are somewhat related, there are significant differences between them that can impact their value and ultimately your enjoyment of the vehicle. We’ll cover the key differences of these three terms below.
Original – Also known as “unrestored”, the term “original” refers to a classic car that has been carefully preserved with its original factory components and has received extremely minimal (if any) updates or repairs. Often considered the most valuable due to their rarity, all-original classic cars are popular with collectors or individuals searching for the best example of a given model. These vehicles are quite literally pieces of automotive history and often compete in prestigious classic car events and showcases across the globe.
Restored – A restored classic car is a particular vehicle that has been returned to its original condition using replacement parts. Naturally, time and use can take their toll on a classic car. The restoration process involves repairing and replacing worn-out parts, repainting the exterior of the vehicle, and even re-upholstering the interior. Restored classic cars can also feature aftermarket or replica parts which are priced lower and are much easier to obtain than original parts. Generally priced below original examples, restored classic cars have a lower entry point to the vintage automobile ownership lifestyle.
Resto-Mod – A combination of the terms “restored” and “modified”, resto-mods offer the best of both worlds – a classic look with plenty of modern upgrades. While they retain their timeless appearance, many resto-mods include improvements like power steering, anti-lock brakes, air conditioning systems, modern stereo systems, and other components that were never originally available from the factory. This makes them outstanding candidates for owners who want to enjoy driving a classic vehicle without dealing with some of their quirks and inconveniences.
Tip #4 – Get Classic Car Insurance
Having the right insurance to protect your classic car is crucial. Before you simply add a classic car to your existing policy, make sure you take the time to understand exactly how you’re covered in the event of an accident, theft, or natural disaster. Many typical insurance policies have restrictions on where the vehicle can be driven, how often the vehicle is driven, and the conditions in which it is stored. We highly recommend choosing a dedicated classic car insurance provided that specializes in protecting vintage cars. These providers are able to provide personalized coverage based on how you drive and enjoy your vehicle. They’re also more accurate in determining an appropriate value and providing the correct coverage amount in the event of a collision or damage.
Tip #5 – Factor In Maintenance/Upkeep Costs
Simply put, classic cars require a bit more scrutiny and care than their modern counterparts. Aging parts need to be replaced more frequently. The nature of the repair work is more specialized and can lead to higher costs. They’re often driven infrequently and stored for long periods of time, requiring additional funds for their upkeep. This is why it’s especially important to factor in maintenance and storage costs when shopping for a classic car. Unexpected expenses and repair costs can put a damper on your enjoyment. By including these in the big picture of your ownership experience, you’ll be able to spend more time driving and less time worrying about the unexpected.