When considering an investment, most people don’t think of a vintage car. Yet, it is a far more engaging one than buying a paintings or stocks. At least you can take the vintage car out for a summer afternoon ride when you feel like it. Depending on the type of car, they can also be quite valuable, making them a great investment should you consider selling it in the future.
The price of collectible cars has also remained quite steady over the years and depending on the model, you could pay as little as$10,000 for a vintage classic that could well turn out to be invaluable in the future. The following tips should help you find and buy only the best (as recommended by https://www.showplatesdirect.com/number-plates-maker/)
- Buy What You Like
The single most important rule of buying any vehicle –vintage or not is to buy what you like. Choose a vehicle that has some emotional appeal to you; something you’ve always wanted to drive. Choosing a vehicle based on emotional appeal rather than profit is one of the ways you can ensure you enjoy the vehicle even if it never is the profitable gem you wish it to be.
Don’t buy the first vehicle that catches your eye, no matter how beautiful it may be. More often than not the most visually appealing vehicle in the lineup, may not be worth the asking price. This is where research can be your best friend. Take the time to go over how auction houses like Mecum value vintage vehicles to help you determine what a particular model is worth. Always buy a vintage car from a reputable source. Be wary of sellers on eBay and Craigslist unless you know them and always have a lawyer hold the funds until the final deal is signed.
- Buy the Best You Can Afford
Consider buying a vehicle that is in the best condition. Unless you are an expert at restoring a vehicle, you want to purchase a vehicle that works. Restoring a vintage car can be a time consuming and costly affair. So, if you will be buying a vehicle for restoration purposes, factor in the cost or restoring. Otherwise, ensure that everything is in good condition before buying the car especially the engine. Test-drive the car and even have a mechanic examine it before you spend any money on it.
- Check the Vehicle’s History
This should be easier if you are buying the car at a vintage car show since most sellers will provide all the documentation detailing the vehicle’s history. It is important however to verify the authenticity of the documents before buying the car. Look for the paper trail that leads directly from the automaker to the current owner including the sales contract, an owner’s manual and even the original window sticker.
The number plates of the vehicle can tell you a lot about its authenticity since they offer a direct legal line to the real owner of the car.