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Buying a Classic Car – Three Things to Help Ease the Experience

Buying a new car, or even a late model used car, is a relatively simple process. You go to the dealer or lot knowing that you're buying a vehicle for daily use, and armed with a list of financing options, and features you cannot (or will not) live without. You might haggle a bit with the salesperson, just to be sure you're getting the best deal available, but in the end you'll walk out – or drive away – with pretty much exactly what you planned.

Purchasing a classic car is not quite as simple. Oh, there's still the list of features, and there are still financing options to consider (generally cash, check or charge), and there may even be some haggling, but before you do that, there are certain key factors that must be decided in advance. Let's discuss them.

Purpose
Before you look at any cars, make a list of why you're buying a classic vehicle. Are you going to drive it every day, or only once in a while? Will this be an investment, or mere transportation? Do you want something you can restore yourself, or do you want a car that has already been fixed up and tricked out? Do you plan to enter competition? If you do, bear in mind that you'll have to find a vehicle that is completely original, and you'll be spending more money for it, than for something you just want to drive on Sunday afternoons. It's important to address all these issues before you even narrow down your choices, because they may impact what you spend and where you look. If you have a specific model you're dying to have, great – try to focus on a specific year for that model (for example, the 1978 MG B). This will not only help your search for vehicles but it will also help you in your research.

Research
Once you've chosen your dream car (that 1978 MG B again), research it to death. Learn if there are any known issues, or recalls associated with the model in general. Were they resolved? If so, how? Many classic European cars had problems with their electrical systems, for example, so when you find one, be sure everything is in working order. You might also want to find a classic car club or owners group for the model you're in search of, and seek their advice. People who actually have experience with the same car you are looking for can be invaluable assets when shopping for an antique vehicle or vintage car.

Check it Out
You've determined the purpose of your classic car, and you've researched the model you really want, and finally you've identified a car you're willing to buy. Now what? Well, you should definitely run a vehicle history report on it, to assure yourself that it is not a stolen vehicle, and to find out how many owners it has had. You can do this online, for anywhere from $29 to $75 dollars, depending on the services you choose, and the depth of the search. You will need the VIN number for this. You should ALSO have a vehicle appraiser look at the car, not just to certify that you are paying a fair price, but to determine if there is evidence of an accident, or if the transmission or engine (or any number of other important components) are original or not. Replacement parts greatly affect the value of the car, but knowing the condition and having it gone over by an expert is equally important, and may save you money down the line.

Owning a classic car can be both fun and lucrative (if you resell, or enter competitions), so please keep this advice in mind whether you are looking for your first antique auto or if you have a garage full of vintage vehicles. One final piece of advice, though? Trust your gut. If at any time something feels wrong, stop any negotiations, and step away. No car is worth more than your own peace of mind.