| Buying your first classic car may be one of the | | | | simple questions a classic car owner should know |
| biggest purchases of your life. It is nothing like | | | | about their vehicle. |
| buying a daily transportation vehicle, and can be | | | | There are online companies that will go and |
| overwhelming for many first time buyers. | | | | inspect your classic car wherever it is, and send |
| Between juggling your budget, your time, your | | | | you extra pictures and a detailed inspection report |
| space, your mechanical abilities, and future plans | | | | of the vehicle. These can be a bit pricey |
| with the car, you have a lot of decisions to make. | | | | depending on how much detailed information you |
| Your first decision of course is deciding what | | | | want, but can also be very valuable in determining |
| model and year you want. Although this decision | | | | the real value of what you cannot see for |
| may seem easy, once you dig down into finances | | | | yourself. Another idea is to check out car clubs or |
| and other variables, this decision can stop dead in | | | | online classic car forums, and find someone in that |
| its tracks. What you want and what you can | | | | area that is willing to go check out the car for |
| afford may be two different numbers far apart. | | | | you. There are many classic car fans willing to |
| You need to look online and check other | | | | help out others. |
| resources for current going prices of the classic | | | | The safest way of purchasing a car online is by |
| car(s) you are interested in, and see if it fits your | | | | using an escrow company. An escrow company |
| budget. If your goal is to have a fully restored | | | | acts as the "middle man" between the seller and |
| piece of driving art, you need to take this into | | | | buyer. After the seller and buyer agree to the |
| consideration. Restoration prices can be | | | | price and the details of shipment, the buyer sends |
| expensive, especially if you do not do it yourself. | | | | the full amount for the car to the escrow |
| If you do the restoration work yourself, you can | | | | company. Once the cash is checked and verified |
| be looking at a lot of your valuable time being | | | | by the escrow company, they notify the seller, |
| used. If you are not interested in having your | | | | and they send the car to the buyer by the |
| newly bought classic car up on blocks for several | | | | agreed upon delivery choice. Once the buyer |
| years, you may want to factor in the cost of | | | | receives the car and inspects it to determine it is |
| buying a fully restored car, which of course will up | | | | in the condition it was advertised as, they contact |
| the cost of any car you purchase. | | | | the escrow company who then sends the |
| Another excellent idea for anyone buying a classic | | | | payment to the seller. If there are problems with |
| car, whether it is your first or tenth, is to visit a | | | | either end of the deal, the escrow company will |
| local car club. Here you will meet people that | | | | get involved. Prices I have seen average about |
| already own the car you want, and you can learn | | | | $250 to $300 for a $50,000 transaction, and |
| valuable tips from them. They have already | | | | 0.6% over $50,000. That's a reasonable amount |
| bought the car you want, and many times they | | | | to pay to make your $50,000 purchase a safe |
| have bought more than one. Most car club | | | | one. |
| members will be more than happy to talk to you | | | | Once you have your car, your last step is to get |
| about what to look for, share other tips, and | | | | it insured. Many classic car owners insure their |
| even maybe point you in the direction of | | | | vehicle with the same insurance company they |
| someone who is selling the classic car you want. | | | | have their daily transportation vehicle under. You |
| Many times these cars will sell for more, but in | | | | are better off looking into a collector car |
| general car club members "baby" their cars, and | | | | insurance company. A simple search online will pull |
| you will have a better chance of buying a real | | | | up many. The reasons to look into a collector car |
| "gem". | | | | insurance company are lower premiums and an |
| Chances are, especially if you are looking for an | | | | agreed value quote. Premiums can be as low as |
| exact model, i.e. special color, model, options, etc. | | | | 50% lower than your current insurer, plus only |
| in a classic car, you may have to search online. | | | | collector car insurers will insure your classic car for |
| Ebay motors and craigslist are two excellent | | | | its entire agreed value. Collector car insurers only |
| places to start. Buying a classic car online can be | | | | deal with specialty cars, so they know how to set |
| more work, but it can also be so much more | | | | the correct value to a vehicle. They know to add |
| rewarding, especially if you can find exactly what | | | | extra value to vehicles with rare options, cars built |
| you are looking for. You need to be careful buying | | | | by specialty builders, etc. |
| online, since there are scammers out there. If the | | | | Following the guide above, you should be able to |
| selling price seems too good to be true, it | | | | find the classic car of your dreams. Even though |
| probably is. Also be wary if they do not give out | | | | buying a classic car may involve a lot of work and |
| their phone number. Scammers like to use email | | | | research, in the end you will hopefully have a car |
| only. Other red flags are sellers who are out of | | | | that will bring you joy for many years down the |
| the country, sellers selling the car for someone | | | | road. |
| else, or if the seller doesn't know answers to | | | | |