Classic cars are one of the best car types out there. However, not many people know much about them. They confuse these cars with their vintage counterparts which are two very different things.
And if they do know what a classic car is, they’re not aware of everything it takes to own such a vehicle. Thankfully, everything you’ll need to know will be discussed below. So, let’s get to it!
What Is A Classic Car?
To get started, we need to discuss what exactly a classic car is. Although you may be a car enthusiast, you may have no idea about the differences between classic, antique and vintage cars.
They’re not synonyms for each other as classic cars are vehicles that are older than 20 years. Antique cars are over 40 years in age and vintage cars are cars were manufactured between 1919 and 1930. This makes it clear that classic cars were driven in the ‘90s, ’80s, and ’70s.
Now, there is a couple of things you have to make sure of when buying a classic car. These points will help you make the most informed purchase. We’ll be running through them below, so read ahead.
What Should You Consider When Buying A Classic Car?
Get It At An Auction
Auctions are the best place to get classic, vintage and antique cars. Auctioneers pull out all stops and offer some of the rarest cars in the game. If you’re someone who wants to make the best investment, this is where you should be going.
If you really want to, you could bid and win a car from across the world. This is how easy it is!
Have A Mechanic By Your Side
Whenever you’re buying a vehicle that’s old, whether it’s classic or not, it’s important that you have a mechanic. The mechanic should be very experienced as he’ll be assessing the vehicle. If he misses out on a few things, making you purchase a less-than-great car, you’re in a sticky situation.
Not only should the mechanic be someone who knows what they’re doing, but he should also be an individual you trust. For whatever reason, he may have ill intentions and want to sway you in the wrong direction.
A lot of the time, people think they’re car experts. They read a couple of guides on buying older cars and put their knowledge to the test by making some purchases. You’re not a professional and even if you know a thing or two, you don’t know as much as a mechanic. You’re drastically increasing your chances of getting a car that’s damaged, so don’t take a risk.
Will You Be Driving It?
It seems counterproductive to own a car but never drive it. However, this is what a lot of classic car owners do. They view their cars as investments so they keep them locked up in temperature-controlled garages for much of the time.
Depending on whether you want to drive it or not, pick a model that can withstand wear and tear. At the end of the day, not driving it is pointless and would take the fun out of it, but to each their own.
Is It A Rare Car?
If the vehicle is rare, you’ve hit the jackpot. All you have to do is sit and wait while its value appreciates. The car may be rare so that whatever parts it needs may be quite expensive. Over time, you’ll be spending as much as its worth to take care of it.
Not only could its parts be expensive, getting the vehicle attended to might be expensive as well. Mechanics may charge handsomely depending on how rare the model is.
If these points don’t bother you, consider that if the car is rare, getting its parts can be hard. You’ll have to search far and wide just to maintain it.
You Might Not Be Able To Make Money From It
The fact that the car is old would make you think you can make money off it. The truth is far from it. Most of the time, you’d barely be able to make anything from a classic car. The vast majority of them aren’t cash cows as they’re everyday models (though old ones).
The ones that are rare or are in demand would bring you the most money. Of course, you’ll have to keep them in mint condition which entails having to lock them away in a garage and never driving them a day in your life.
Be Wary Of Dealers
When it comes to classic cars, you have to be wary of dealers. To know why you have to understand how they work: buyers come to them to sell their cars. The dealers store the vehicles, helping them gain buyers through advertisements. When the vehicle is finally sold, the dealer gets a cut.
This is how it usually works, but you may have found someone online willing to sell you the car directly. This is very sketchy, so you shouldn’t take the leap. If you are interested, you need to make sure the person is genuine so see if they’ve sold vehicles (especially classic ones) in the past. If people are upset about working with him, he might be a scammer.
Insurance Policies
Insurance policies are very different for older cars. Insurance companies know that classic, vintage and antique cars won’t be on the road so much. So, they have different insurance policies for them. You’ll have to figure out what policies are available for the model you’re thinking of purchase before you head to the dealer.
With that out of the way, you know everything about purchasing a classic car. Now, we can move onto the multitude of benefits you’ll face when having such a vehicle by your side.
Why Should You Own A Classic Car?
Earn Money
It’s true that not a lot of classic cars make money, but if you get hold of a model that’s quite rare, you can make a pretty penny. This requires a lot of research before you choose a model, but the effort is worth it.
What’s more, classic cars aren’t that expensive to get hold of. Yes, they’re expensive, but they won’t dent your wallet as much as an antique or vintage car would. This is especially true as the UK government ruled a zero disc tax on cars built before 1974.
The fact that insurance is so affordable for classic cars is the cherry on top.
You’ll Have A Richer Driving Experience
It’s fine if you don’t want to drive your new, classic car. That being said, a lot of people might want to. You’d notice what a great experience it is as cars built back then didn’t focus on smooth or noise-free driving. This lets you hear everything that’s going on as you continue with your journey. As a petrol head, this is something that you’d enjoy as you’ll be having a rich driving experience. Be sure to check out options for replacement number plates here as well.
They’re Cool!
Classic cars are insanely cool. They’re time capsules, after all. The thing about them is, the 90s, 80s, and 70s were easily one of the best times we’ve experienced driving. If you were born much later, having a car reminiscent of these times would turn a lot of heads, all in the right way.
They’re Easy To Work With
Nowadays, vehicles have a range of electrical systems. This is necessary for modern life. Classic cars came out a long time ago so they don’t have much of the complex systems current cars have. So when getting classic cars repaired, you can attend to the work yourself as everything’s so simple.
If the parts aren’t expensive, getting a mechanic to work on the project could also be done. He won’t charge you much as there’s very minimal work. However if the car is worth a lot, expect him to run you up quite a bill.
That being said, you won’t drive as comfortably in a classic car. You won’t enjoy GPS systems, rearview cameras, better batteries or comfortable seats, to name a few. If you want to install a portable DVD, be it the best portable dvd players or a cheap one, they might not be compatible with the car.
As you can see, owning a classic car isn’t the same as an antique or vintage one. The three differ according to the period they were released in. All in all, owning a classic car is one of the best decisions you could make as there is a range of benefits of having one. One of the biggest benefits is the fact that you’re making an investment. However, to maintain your investment, you’d have to spend a lot of money. And not all classic cars are investment-worthy – this is the case with a lot of them out there.
If you follow our points, you’ll make the buying experience very smooth and go into the purchase fully informed. So, do you think classic cars are for you?