Whether you’re a first-time buyer or simply adding another one to the collection, you should never rush into purchasing a classic car, as there are many things to consider before handing your money over. Below are a few tips on buying a classic car.
?Before you start looking at specific ads, it’s important that you carry out thorough research of your chosen car. Learn what its strengths and weaknesses are, find out how much spare parts cost and compare typical prices of the car in all conditions. Following this, it will be particularly useful to speak to owners of the car, and you could do this by joining an owners club and talking to its members.
?If you have carried out thorough research, you should have a clear idea on what car you can afford and in what condition. Always budget for failure and future costs, i.e. spare parts, services and repairs. Generally, you should allocate 25% of the initial purchasing price for restoring a classic in the first year of owning it.
Create a checklist
?Before you head off to view a car, you should create a checklist of things to inspect when you get there. You’ll be able to get ideas of what to look out for when carrying out your initial research. If you are not mechanically-minded, get in contact with an expert who can help you create the checklist.
Check the history?You should always check the car’s history and study all documents associated with it. Ensure that any major issues have been addressed and that it has been regularly serviced. Don’t be afraid to ask the current owner questions about his experience with the car. Sometimes, it’s good to find out the reason why the owner made the decision to sell.
?A classic may look fantastic when you view it, but you’ll only truly experience it when you get behind its wheel. More often than not, private owners and dealerships will offer test drives, or you could even contact a club member to ask if they would lend you their car for a quick spin. Only by driving it will you be able to decide whether it’s the perfect car for you.