7 Tips for Buying a Vintage or Classic Automobile

Collector cars include both vintage and classic cars. “Vintage” refers to cars made from 1919 through the 1930s, the Ford Model T being one popular example, while “classic” refers to cars made post-World War II on up to the 1970s. Cars made just 20 years ago can be collectible as well. Buying vintage or classic cars can be a truly intimidating and somewhat complicated process. We know you’re imagining the looks from your neighbors as you cruise the streets in a restored beauty, but before you run out to an auction with check book in hand, take a look at these seven tips for buying a vintage or classic automobile.

1. Know where to look:

   

   To get an idea of what kinds of vintage and classic cars are available on the market, visit Hemmings Motor News and Sports Car Market and check out their listings of cars for sale. Find out if there’s a car club near you or a car show or auction coming up in your area where you can meet experienced car collectors and ask them for advice. Check out the websites for RM Classic Cars and Dan Kruse Classics for car auctions scheduled around the country.

2. Ask yourself “How popular is the model?”:

   

   Understanding which vintage and classic car models are popular and considered collectible will help you decide what you want to purchase and why, as well as how much you’re going to have to spend. Generally speaking, you may find that maintaining and repairing a less-popular or rare car is especially difficult simply because there is little interest in the car among collectors. If selling and making a profit on your investment is what concerns you, then definitely take time to get to know the market and which cars have a following among collectors.

3. Have the car appraised by an expert:

   

   Before you spend money on collector car, have it inspected by an experienced, classic-car appraiser. This is a crucial, not-to-be-skipped step when purchasing any kind of used car, and it’s especially important when you are purchasing one that is vintage or classic. The quality of any restoration can be the difference between a car that is a great investment, and one that will begin falling to pieces once try to start it up. So spend what will mostly likely be less than a few hundred dollars to get your potential purchase checked out and appraised.

4. Know in advance where you’ll store your car:

   

   Make arrangements in advance for a place where you can safely and properly store and maintain your collector car. Your home garage is fine for a lawnmower, but the lack of ventilation and excessive humidity make it a terrible place to park your vintage or classic car. Local car clubs are one source for locating dust-free, dry storage facilities, and may offer group rate and member discounts.

5. Get insurance:

   

   You will need to purchase full-coverage insurance for your vintage or classic car, valued at what your car is currently worth on the market. An appraiser can assist you in determining that figure, and you should review your policy at least once a year and account for any changes in the collector market. Hagerty Insurance specializes in insurance for vintage and classic cars and motorcycles.

6. Prepare for repairs and maintenance:

   

   Once you have your vintage or classic car, get ready to spend a lot of time with repairs and maintenance. But hey, this is part of the fun of owning a collector car, stepping up to the challenge of keeping it running and looking good! If you don’t have the car’s original manual, network car clubs and fellow collectors for advice as to what parts may need particular care and attention. Replacement parts can be quite expensive, so be sure any part you order is coming from a reputable dealer. (That said, comedian and dedicated car collector Jay Leno demonstrates in a video on his Jay Leno’s Garage website how a 3D printer can be used to model and produce molds for classic car replacement parts.)

7. You don’t have to buy a rare collector’s piece:

   

   We know we said you should buy what is popular, but most car collectors (like Leno) suggest that you instead just buy what you like. You don’t necessarily have to break your bank and buy “the best car you can afford” in order to enjoy the hobby (or is it obsession?) of car collecting. A less expensive, less “collectible” car that needs some (or maybe a lot of) restoration could become just the car you need to cruise around your neighborhood and share a little bit of automotive history.

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