Buying a classic car is expensive at the best of times, but maintaining one is on a whole other level, as replacement parts for classic cars are very hard to come by nowadays. The value of a classic car does tend to increase with time, but only if properly cared for, so it’s a big decision to make. Research and preparation are key when purchasing a classic car, so make sure you take the points below into consideration before making any big decisions.
Watch Out For Rust
Although many parts of a car can be repaired or replaced (for a pretty penny, of course), rust suggests the possibility of more serious issues. After all, if the surface is rusty, then it’s likely that internal components could be rusty too, which are a lot harder to fix. These issues were probably caused by the current owner not putting enough time and money into the car’s maintenance. Even the most experienced car experts sometimes steer clear of signs of rust, as the work required to fix it not only can cost a lot of money but could also result in the car still looking unpresentable at the end of it all.
Shop Around For Insurance Options
Insuring a classic car tends to be more expensive than insuring a newer one, so make sure you have a good look for different options. It’s probably a good idea to look for an insurance company that specialises in classic sports cars and other old vehicles. Because of the cost of your car, you’ll want to ensure that your package includes protection against not only damage but theft too. If you don’t use your car day-to-day, like many other classic car owners, then you’re likely to find some favourably reduced premiums.
Choosing The Right Car
Depending on your experience with classic cars, you may want to go for a model that isn’t massively rare. If you’re fairly new to the classic car game, then a newer model is probably a sensible suggestion to go for. Classic cars from the 1980’s are your safest option, as they will generally have less wear and tear, meaning they will require much less maintenance than older cars. Parts for these cars are also more affordable, as they too aren’t extremely rare. You may have your heart set on a particular model, but it makes much more sense to broaden your horizons, get some experience, and maybe purchase your dream car a little later in life.
Classic cars are beautiful but do require a tremendous amount of work. If you are thinking of buying a classic car purely for aesthetic purposes, then you may want to reconsider. It would probably save you a lot of time, money, and effort to simply rent a Lamborghini or another sports car for a while, than buy a classic car and have to maintain it. Buying a car that you’re not that interested in is never a good idea, and will result in it being left to decrease in value in your garage. Ensure you’re truly passionate about classic cars, before purchasing one, as this will keep you motivated to maintain your car when it’s getting pricey and time-consuming.
If you still think that purchasing a classic car is for you, then look for a classic car auction nearby, and be on your way.