5 Mistakes To Avoid When Buying An Expensive Classic Car

If you are planning to buy a car, the most important thing is to never rush with your decision. If you are not so experienced, the best option is to ask someone to help you. Also, always check the specs so you can be sure that you are getting the right thing. The situation with used vehicles is even more complicated since many things could become a problem. For example, getting a car in a much worse condition than presented.

There are many people interested in classic cars as well. Checking the condition of such car is even more important. Some old models can be very expensive due to their excellent design, story behind a specific model, or a limited edition. Some models can be very difficult to find, and they often come at a high price. If you are interested in buying a classic car, one of the best solutions is to check classic car auctions. Here are some common mistakes to avoid when buying an old-timer. 

1. Not Doing Enough Research

First of all, we have to mention that not all old vehicles are considered classic cars. Therefore, if you are planning to invest in something old only because you think that it will gain more value over time, there is a lot of room for mistakes. The most important factors to check before you buy a car are the year of production, how many units were produced and distributed over time, technical specs, and popularity. 

For example, if you are interested in getting a Chevy from the 70s, a Camaro would be a much better choice than Kingswood. However, the condition and specific model are also important elements. For example, finding a Kingswood in a perfect state with original parts is then the best option.

2. Making Rush Decisions

We understand that you are a car enthusiast, and that you want to own some classic model, and keep it in your garage, invest more money in repairs, design, and additional features. However, keep in mind that most of classic cars are now already 50 or more years old, which means that you will need some luck to find a good option. 

The first thing to do is to create your goals and determine the main reason why you need a classic car. For instance, if you want to invest more in redesign and bringing the car in perfect state, the best option is to look for car junks and sellers who are offering their old cars for cheap price due to bad condition. 

On the other hand, if you have a limited budget, things are more complicated. First of all, you should learn more about classic models to avoid a mistake where you are getting a car you won’t like only because it is produced more than 50 years ago. As we already mentioned, a lot of old cars don’t hold any value, even if you restore them. 

3. Lack of Spare Parts

Another issue that you could face if you rush with the buying process is that you could end up getting a model where it is difficult or impossible to get the replacement parts. For example, if you live in the US, and there was an attractive Japanese or European model from the 60s or 70s that you want to buy now, the problem could be that there are not parts available, and even if there is a chance to get them, you will have to order them from abroad, which could get very expensive. 

4. Buying a Car in Bad Condition

There are many people who would choose to buy certain models no matter if they are in catastrophic condition. You should do that only in case that you are sure that have found the right model. On the other hand, people are aware that there are car enthusiasts willing to spend more for some old models, and they are using that to sell the junk cars from their yards for more money. 

Besides the bad condition, the state of an engine might be the most important element. For instance, if you are planning to refurbish a car for some competition or a car show, keep in mind that one of the main rules there is to have original parts. Therefore, pay attention of the engine was replaced at some point. 

5. Not Asking for Assistance

If you don’t have enough experience and knowledge about automotive history and mechanics, there is a great chance that you will make a mistake. A much better solution would be to hire someone with proper skills and experience so you can be sure to get the right value for the money you are spending. That is the best way to avoid the situation where you got an old-timer, but not in a drivable condition. 

Besides that, people experienced in old-timers will help you in making the right choice since they know more about values of these cars, and help you avoid dealing with potentially worthless options. That is crucial for people who want to refurbish and re-sell old-timers. 

The Bottom Line

There are many old models that could bring you high profit, but only if you pay attention to factors that we have mentioned. In case that your main intentions are to buy an old car so you can drive it every day, the condition is crucial. Also, you will need to check the papers and be sure that the vehicle is legal, with original parts, and the right engine. 

The price of keeping such vehicle in good condition can be very expensive as well, and you should keep that in mind when making a decision. Moreover, the trends are changing all the time as well, and there are always new cars added to the list of classics. The most recent models are BMW from the 80s, along with some cars produced by Toyota, Citroen, and more. The great thing about making the right choice is that you might be able to sell an old car for even more money after some time.