Classic Car Buying Guide

Figure out what you want before you start looking at any car.  Do your homework first. There are too many different types of cars out there . You need to have a clear idea of what car you want buy. But narrow it down. This will allow you to zero in what your looking for.  Don’t be in a hurry to buy something. 
Determine what you'll be using the classic car for. If it'll be used as a daily driver there is no need to find a "show condition" vehicle. If you plan on entering classic car competitions you'll have to find something all original and spend slightly more. If you know the model you are interested in, narrow it down to 2 or 3 years .This will help with your search. If you don't know, research what changes were made each year and what suits your needs/wants best. Know the classic you are interested in, and research what "problem areas" the vehicle may have and check if the problem has been resolved (e.g., many European classics have electrical problems so check that the components are in working order).

Step 2 Figure out the quality car you want

Figure out the quality of car you want as thinking about this think about you budget the 2 go hand in hand. If you are like many, you will probably have a limited budget you can spend, and that will need to be figured out early in this process.  If price is not a concern (lucky you), then you can do your research and select a make, model, year, and specific options.  You may not need to figure out an exact dollar amount you can spend, but even having a rough estimate will help you narrow down the type of car you can afford during the next  step. Keep in mind garages and drive ways are full of vehicles that some one thought they do a bit of work on and then have a nice driver . Time and Space is a big consideration.  
The next factor that needs to be considered is your time and space.  This factor and your budget may not seem related, but they can be.  Old cars always need work and maintenance, and many classic cars are sold needing to be restored.  Paying top dollar for your dream car that needs a lot of work may not be the best idea, since you will not have any $$ to have it worked on and restored.  Restoration work on classic cars can be very expensive!  If your budget is limited, but you have a lot of time on your hands and some mechanical ability, you may be able to buy a car that needs a lot of work at a discounted price, and slowly restore the car of your dreams.  Your space availability is also a consideration if you are planning on restoring a classic car.  You will need nearly two cars worth of room and possibly more.  The body and chassis will take up the one car area, and all the parts that will be stripped from the car will probably take up another full car area.  You may also want to keep some of the parts that are more sensitive to the elements like the engine and transmission in a dry and cool area, like a basement.  There are also many climate controlled storage facilities you can now rent, but of course that will just add to the price of restoration.  Although you can rent these storage areas to store the parts, you will be forbidden to actually work on the parts in the storage facilities.

 
Your Mechanical Abilities 


Your mechanical abilities also need to calculated into the whole plan.  If you lack any mechanical ability, you may want to look for a car that is completely or nearly restored.  This of course will add to the price of the vehicle.  If you have some mechanical ability, you may be able to do a lot of the restoration work yourself.  You can save $$ through your own labour.  If you are a mechanic and have excellent mechanical ability, then this step probably means nothing to you.  
Restoration work can be very pricy on a classic car.  If you are starting out with a limited budget, but you know in a few years you may have more money to sink into the car, you may want to look at a car that is not restored, but is in drivable or a decent condition.  You can enjoy driving your car, and as the years go by slowly restore the car to the original beauty it used to be. 

#1 Excellent:

A close to perfect original or a very well restored vehicle. Generally a body-off restoration, but a well done body-on restoration that has been fully detailed may qualify. The vehicle is stunning to look at and any flaws are trivial and not readily apparent. Everything works as new. All equipment is original, NOS, or excellent quality reproductions. Note: This is NOT a 100 point trailered show car.  See show car description in How to Use section.

#2 Very Good:

An extremely presentable vehicle showing minimal wear, or a well restored vehicle. Runs and drives smooth and tight. Needs no mechanical or cosmetic work. All areas (chassis not required, but may be) have been fully detailed. Beautiful to look at but clearly below a #1 vehicle.

#3 Good:

Presentable inside and out with some signs of wear. Not detailed but very clean. Body should be straight and solid with no apparent rust and absolutely no rust-through anywhere. Shiny, attractive paint but may have evidence of minor fading or checking or other imperfections. Runs and drives well. May need some minor mechanical or cosmetic work but is fully usable and enjoyable as is.

#4 Fair:

Runs and drives OK but needs work throughout the vehicle. Body shows signs of wear or previous restoration work. Any rust should be minimal and not in any structural areas. Cosmetics, body, and mechanics all need work to some degree.

#5 Poor:

In need of complete restoration, but is complete and not a rust bucket beyond repair. May or may not run and drive. Not roadworthy.
Parts or Salvage: Incomplete vehicle most useful for parts. Generally, take 40-50% of the #5 value 
 
 
 
 
 

Step 3 Research Your Choice 

This is the most important thing! Plant yourself in front of the computer for a few hours. Find as many web sites about your particular choice as possible. Almost every car made has at least one site devoted to it. More popular cars have many with a wealth of information. Google will be your friend here. Look for a buyer's guide hours of this type of research you may end up knowing more about the car in question than the seller! 

Step 4 start the search 

Where do I find Classic Cars for sale? There is no shortage of classic cars for sale. check out the internet for advertisements? Search around and you will find all manner of online sales companies selling classic cars and trucks. Alternatively if you fancy a gamble, take a look at some of the online auction sites. There are classic car auctions and car shows and cruse nights . Contact your local appraiser they may be able to help you with this.

Step 4 So You Found the car you want 

So you've found a car you want to have a look at. So, firstly jot down some questions that you want answering, before making contact with the owner. Examples could be: 'why are you selling the car?', 'how long have you owned it?', 'is there any rust 'how often do you use it?', 'does it come with any spare parts?' and 'does it have any history with it?' to name a few good ones. If you have read up on your subject, there will probably be specific questions to that particular model that you should seek an answer to, ask about the condition of the bodywork for instance. The seller claims it's an "all original body with no rust". Well, we'll see about that! Bring a weak fridge magnet, the thinner the better. Test it all over the car. it's very simple - magnet sticks=good, magnet doesn't stick=bad (or at least cause for further investigation). I use this technique on car I appraise . Every time an owner says "You won't need that, she's all steel" I  usually find something.  Even rust free southern cars have usually had a dent repair or two. The magnet will find these and there'll be no surprises after you buy the car. Remember, the magnet won't stick to aluminum or fiber glass so make sure you know which body panels are steel and which aren't Check with local classic car clubs for any people who own, or have owned the type of classic you are interested in. They may be able to help you determine what to buy and what to avoid. Have a vehicle appraiser look at the car. They may be able to tell if its been in an accident, or if the engine, transmission and other vital components are not original. This will alter the value of the vehicle. Do a used vehicle history report on the car to make sure it has not been stolen and to check how many people owned the car previously. This can be completed online. Don't sell your wife and buy the classic car, because the car is very expensive! Looking at a collector car for sale is a daunting task. There is a lot to check and take note of, which is more difficult if you are chit-chatting with the owner and loosing track of what you've looked at. I usually spend up to 60 minutes looking at a car for an appraisal. That being said, I usually take a closer look at the car than the owner ever has, even if they've owned it for 20 years! Bringing a friend can take a lot of pressure off of you. While you are dealing directly with the owner, your buddy can be looking at the car uninterrupted. If you found out something in your research that needs to be checked, give him that task. Chances are he'll find something worth asking about that you would have missed by yourself. Buy him lunch, he may save you from making a $15,000 mistake! Try to buy something with full service records. This will give you some peace of mind. If you buy something rare, be prepared to pay more for parts. In many cases you'll have to get parts custom made which can be very expensive. You may also be able to buy used parts from someone who is "chopping" up a similar model. You can check online auctions for general availability of such parts. Drive the car - make sure you like it