Our classic car buying guide gave you an idea of what you should keep in mind when looking for a classic car, but what do you do once you’ve actually found a car you’re interested in purchasing? Even if you’re planning to hire a professional to perform a pre-purchase inspection (which we highly recommend), there are still things you can do to ensure you don’t waste your time or money.
Here’s what to look for when buying a classic car.
If you don’t look back at your car after you park it, you’ve bought the wrong car.
Be Passionate
There are many types of classic cars out there, but buying one you are passionate about should be a top priority. You want to buy a car that you’ll enjoy driving, talking about, showing off, or just looking at it. You know you found the right classic car when you go out of your way to sneak a peak while it’s parked in your garage or turn and give it one last glance when you’re walking away from it in a parking lot.
Get Social
One of the best things about buying a classic car is that between forums, social media groups, and car clubs, most cars come with a built-in community of like-minded enthusiasts, so use that to your advantage. There are people who know every nut and bolt of a specific car, so connecting with these enthusiasts can help point out common problems to watch out for and other helpful tips to make the purchase process less stressful. These same sources can also provide access to old repair manuals or just general knowledge of the vehicle making your ownership experience easier as well.
Look Close
It doesn’t matter how new or old the vehicle is, take your time when looking at the car and pay attention to the details. If the car has covers on the seats or dash, look under that to see the condition of the components. You should also keep an eye out for any parts of the car that look like they have been recently painted with either mismatched paint or overspray. A cracked dash or fresh paintwork aren’t necessarily reasons to walk away from a car, but it gives you a better idea of how the car has been treated and maintained. It also can help raise any potential red flags toward unscrupulous sellers.
Check The Trim Tags
Trim and fender tags are crucial to figuring out what options the classic car was built with from paint to powertrain options. Some cars reveal more information than others, but what you’ll really want to watch out for is tags that may have been tampered with. Removing and reinstalling these tags is pretty common especially when paint and bodywork have been performed, but be aware of clones, tributes, etc posing as the real deal. Some companies provide more detailed info on a vehicle’s history such as a Marti Report on classic Fords.
Title vs. Bill of Sale
Access to a title is great to prove ownership of a vehicle as well as match the car’s VIN, but these aren’t always available on classic cars. In some states, vintage vehicles are sold only with a bill of sale, and you’ll need to get a VIN verification (through a state agency or local police department) to get the car registered.
Market Comps
Pricing for classic cars is all over the place these days, so doing your research will help you come up with an accurate price. If you think the seller’s price is too high, having evidence of recent comparable prices is an excellent negotiation tool. This obviously won’t always be the case (especially on rare or specialty vehicles), but it is very helpful the majority of the time.
Shop Insurance and Finance Rates
As you’re looking at classic cars, don’t forget to shop insurance and financing rates. Luckily, there are plenty of options for both in today’s market making it easy to acquire a vintage car and maximize the protection of your classic vehicle investment. When talking to insurance companies, be aware of the replacement value of the vehicle in the event it’s stolen or totaled, which can be a stated value determined by the company or an agreed-upon price.
Look to Velocity
Buying a classic car can be stressful with all of the unknowns, but Velocity has simplified the process by creating a lineup of fully restored and reimagined classics. These cars maintain the authentic and classic styling, while providing the performance, technology, luxury, and comfort of a modern vehicle. Today, Velocity offers five modernized classics including the Bronco, Mustang, F-100, F-250, C10, and K5 Blazer, which are all available in distinct model packages. And stay tuned, because more models will be launched soon!