Buying a classic car usually is one of the most exciting things. Therefore, you need to be well prepared. Being well prepared ensures that you make an informed decision. Here is what you need to know when buying your first dream classic car.
Choosing the Car to Buy
There are various classic cars to choose from. Before you buy, you need to be sure about what you want. Classic cars are a significant investment. This makes a choice even harder. If you are not sure, visit an experienced dealer. This is because they already know what the market offers and they will help you narrow down your choice. If you want the car for fun, then choose the one you will be proud to own.
Budget
What is your budget? The book value does not determine classic cars. They are worth as much as you are willing to pay and as much as the owner wants to sell. It might be hard to let go of a classic car you like especially if you do not meet the price. Therefore, you need to be clear on your budget and stick to it. You also need factor other costs such are restoration, cost of labor and spare parts, which are typically quite expensive.
Even when you are clear about your dream classic car, do not buy from the first dealer you meet. There will always be another dealer offering you the same car at a lower cost.
Insurance
Classic cars can be costly to replace or repair. Thus, you will need insurance. Check whether the vehicle you choose is covered by your insurance company and the cost of premiums. This is a cost you will have to meet now and then. Thus, you should ensure that the incentives are a cost you can achieve.
Car Inspection
When you settle on a classic car, you must scrutinize it. It will be helpful if you can have an expert on classic cars check it on your behalf. This is because they can see things you ordinarily wouldn’t.
The inspection should entail; the interior and exterior, title, Vehicle Identification Number (VIN), rust damage and a test drive. Ensure that the car is registered under the name of the owner and any penalties or fees are already paid for. The car’s VIN tag should also match with the one on the title to ensure that the vehicle was not stolen. On the car’s interior ensure that the dashboard, seats, badges, etc. are intact and in good shape. Remember that if damaged, the replacement cost can be high. You also need to examine the extent of the rust damage, if any. If the damage is less, then a professional can fix it, it’s not worth it. Lastly, take the car for a test drive before you buy it. This gives you the chance to check any problems, and also let you know how you feel about the car.
Buying your classic dream car can be thrilling. However, you need to take your time and put the above factors into consideration before settling on the specific dealer to buy from.