Are you thinking of purchasing your fantasy vintage automobile? Maybe you have your heart set on a 1957 Ford Thunderbird. Perhaps the thought of owning a muscle car like classic 60s era Cougar really gets your engine going. Whatever make or model pops your radiator cap, you have a lot to consider before making your first classic-car purchase. We’ve taken the mystery out of vintage-car shopping with five tips for making your vintage car dreams a reality.
Know what you want. Most people considering a vintage-car purchase will have a particular car in mind already, whether they used to own a certain model or they want to buy the same car their parents drove, says Allan Lewis, president of antique car appraisal company Vintage Car Connection. Before deciding that the vintage car of your dreams is really the right vehicle for you, Lewis recommends seeking out a model-specific auto association for more information. “Attending a meeting of the local club for the car you are after is a great way to find cars for sale that may not be advertised,” he says.
Do your homework. If you don’t already have a particular vintage model in mind, start by visiting an auto show or “cruise night” at a near-by shopping mall to narrow your choices. These events draw local collectors and enthusiasts, and they’re great places to to talk to actual car owners. Ask vintage-car buffs for advice on choosing a good entry-level car and if there are any concerns specific to that model. Lewis also recommends checking out vintage car publications Hemmings Motor News and Old Autos. For a list of helpful vintage-car websites, click here (link to sites).
Decode the Vehicle Identification Number. If you’re considering a vintage car for purchase, make a note of the vehicle identification number (VIN) (ask the previous owner where this is located on the vehicle). “This should be considered a must on any car you’re close to buying,” says Lewis. Discrepancies between what the VIN indicates and the appearance of the vehicle can affect the car’s value. The VIN can also indicate whether a car has been stolen. Model-specific auto clubs often have websites that will help you decode the numbers and offer clues about the car’s production year, make and model. The VIN should confirm that the car you’re purchasing is the real deal.
Hire an expert to inspect the car. A first-time buyer is wise to employ a vintage car appraiser to inspect the vehicle for hard-to-recognize problems such as hidden rust or imperfect previous repairs. The.Professional Association of Vehicle Evaluators, a self-regulating professional body, is a good place to start your search. “[Appraisers] can also confirm if the market price of the car is fair for its condition,” says Lewis, who also insists that buyers ask for a mechanical inspection done by a licenced mechanic before they sign on the dotted line. Your province may require a safety inspection when a car passes from one owner to another. A mechanic can assess things such as the condition of the brakes, steering, suspension and exhaust, says Lewis. Check your province’s emissions regulations to ensure your vehicle meets environmental standards.
Think long and hard about expenses. Lewis estimates that there are affordable classic cars available for under $10,000. But “at the other end of the scale, there are cars that could cost multiple times the value of your house.” However, the financial outlay for a vintage car doesn’t end at its purchase. There are possible restoration costs to consider, and Lewis says professional restorers can charge upwards of $60 per hour. You’ll also have to account for regular maintenance fees, particularly if you are considering the car for resale profit. Understanding how much you can afford to invest in the car should be a factor in your purchase. For example, if you plan to use the car for everyday driving, consider that some insurance companies prohibit day-to-day use and limit driving to parades and special events only. You may also have to shell out to add seatbelts to some models.
Start your vintage-car research now with these helpful sites:
The Antique and Classic Car Club of Canada lists local chapters and vintage car events and features a publication, The Reflector. Membership is $45 Cdn annually.
The Society of Automotive Historians not only provides information through its publications, the SAH Journal and Automotive History Review, it also assists members in finding information (for an annual membership fee of $40 US). Check out the website’s links page for a comprehensive listing of publications and associations to help further your research.
The Antique Automobile Club of America lists member events and offers a link to the AACA Library & Research Centre with some searchable archives. You can also contact the club online with inquiries.
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