How to Pick Out a Great Classic Car
Have you thought about taking the leap to purchase a classic car? Each year, across America, millions of people mull over the same thing, and many act on it. Before you plunk down that much cash on just any old car, give some thought to what goes into choosing a classic car. Considering these points and options, rather than purchasing on impulse and ending up with buyer’s remorse, may save you a lot of heartache. It may be an old car you are buying, but you want it to be a decision you can live with for a long time, one that will bring pleasure.
What’s a Classic?
The first step that you need to take, when deciding to purchase a classic car, is to define what you mean by “classic.” After all, the term means different things to a variety of people. For example, the Classic Car Club of America (CCCA) defines a “full classic car” as one that was built between 1925 and 1948. They describe an “antique car,” as being one that is at least 25 years old.
The CCCA recognizes that these terms are often used loosely by car owners, even when they don’t fit the definition. But perhaps other people are following what the dictionary describes as being “classic,” which is to be historically memorable or to serve as a standard of excellence. So you have to ask yourself, what exactly do you mean when you talk about a classic?
“My goal was to keep the cost under $20,000 and find a car that could appreciate over the years,” says one classic car collector. “Classic can include many later models, but I was thinking of cars older than 25 years. That would make them eligible for special insurance and cheaper license plates.”
Other Points to Consider
As that classic car collector points out, there are many other issues to consider when it comes to determining what to purchase. The decision you make will have an impact on everything from the cost of restoration to repairs, and even cheap liability insurance. Start by answering the following questions realistically, which will help you narrow down which direction to go for your car shopping:
- What can you realistically afford to spend on a car? You need to come up with a budget that will not break the bank and force you to sell the car of your dreams six months later.
- How far are you willing to travel to purchase the car you think is right for you? If your dream classic car is for sale halfway across the country, are you willing to make the arrangements to get it to you or to go there and get it? If so, that needs to be part of the budget.
- How much can you afford as an ongoing expense for this vehicle? Depending on what you purchase, your expenses may include insurance, storage, maintenance, gas, and possibly even restoration.
- What might your top three choices be? If you could get any three classic cars, what would they be? This will help you narrow you choices down to the ones that really hold a place in your heart.
Pulling it All Together
Once you have taken the time to answer the questions posed above, you will be well on your way to choosing the right classic car for you. At this point, you are ready to start your search. To find more to choose from, be sure to cast a wider net than just in your local area. Even if transport or travel expenses are involved, it may still turn out to be the better buy.
Before even getting your classic car, get some quotes on classic car insurance to see what it will run, as well as what annual storage will cost you, if you don’t have a place on your own property where you can store it. Determining as many of those expenses as possible, up front, will help save headaches later on.
In the end, picking out a classic car will basically come down to what your budget can afford and what your heart desires. Working within those two points, you will also need to keep the ancillary expenses in mind. If you stay within your budget and get a car you love, you will likely never have regrets.
