Many will attest to the idea that owning a classic car can be one of the most rewarding experiences a person can enjoy. Admiring onlookers and a true sense of community from fellow classic car enthusiasts are just some of the ways owning a classic car can bring joy to your life. before you jump in though, there are some things you should consider before buying a classic car.
Like jumping in a time machine and travelling around in it all the time, a classic car is more than just a vehicle – it’s an experience.
However, it might not all be a smooth ride; if you’re unprepared for the reality of owning a vintage vehicle, you could wind up disenchanted and heavily out of pocket. Please take a look at our list of things to consider when buying a classic car.
Prepare for Problems
The undeniable fact is that even brand-new cars will most likely encounter issues every ten years. Older cars, no matter how well-maintained, will undoubtedly have hiccups along the road. The fact is all these car-tastrophes can be repaired, although it may hit the wallet. Just remember that a reputable mechanic can probably fix cars from the ’80s and newer; however, those older than that will most likely require the care and attention of a specialised mechanic.
Getting parts for your classic car will be a different experience to getting parts for a modern motor. More popular models are likely to be easier to get components, and reputable mechanics, for! While choosing a more obscure classic car may bring great pleasure, it could bring unsurmountable pain in the search for parts.
One of the significant considerations for your classic car will be where you keep it when it’s not on the road. This will be especially important in the winter months when rain and poor weather increase the risk of damage to your beloved vehicle. If you are lucky enough to have a garage, consider a dehumidifier to keep out the moisture. If you don’t have storage space at home, don’t panic; several specialist firms provide excellent solutions for your storage issues. These can include coded gate entry, CCTV and secure units where you will feel safe leaving your classic car.
You may not be aware of this, but as a general rule, classic car insurance is cheaper than a standard policy. This is because insurers see classic cars as a lower risk of being involved in an accident or other claim. It’s generally recognised that older vehicles drive more slowly and are usually on the road less often than their modern counterparts. Classic car owners are also well known for how well they take care of their vehicles.
Research, Research and then Research Again
Even if you’ve known what classic car you want for a decade – continued research is an absolute must. If you have a specific vehicle in mind, join the relevant forums and interest groups and talk to owners at car clubs and events.
Consider how much maintenance the car will need and how easy it will be to get that done. Ask lots of questions such as how often the vehicle tends to break down and any specific quirks you should know. See if you can get a test drive!
If you haven’t chosen your favourite yet, start by thinking about the style of car you’d like and your price point. A great place to narrow down the choices is by looking at your budget.
Money Matters When Buying a Classic Car
Speaking of budget, you’ll need to consider the financials before you buy your vintage vehicle. The costs are not limited to purchasing the car; you’ll need to consider storage costs, insurance premiums and ongoing service and maintenance. Set a reasonable price for the car purchase, and stick to it. Be aware of possible emergencies and the cost implications for those; the last thing you want is a breakdown to leave you with a hunk of unusable metal you can’t afford to repair. Take a look at our list of 5 affordable classics rising in value here.
We know that choosing and buying a classic car can be a serious financial decision and one that involves much time and thought. We hope that the tips we’ve given you here will help make that choice an easier and more educated one. If you’re ready to hunt for that vintage vehicle – check out our listings here.