Classic Car Collecting
Posted by Gillian Jones on 02/10/2015
Vintage and Specialist cars – how do you start?
Are you thinking of starting a collection of specialist cars? If you are then you’re going to need an awful lot of knowledge and know-how behind you in order to, not just buy the car, but maintain its value.
A great investment
Some classic cars are great investments and you’ll see their value increase exponentially over the years, especially those that are well known with a good reputation. However, the best car to purchase is always going to be one that is undervalued, but this will need a good deal of foresight and knowledge.
Drive it, maintain it
It’s a speculative process, you buy it and you keep it, but while you’re taking care of it so it’s in a fit state to be driven, you can’t leave it alone. If you don’t drive the car then it’ll deteriorate. Driving it is part of the pleasure, but maintaining it too is important and part of the joy of owning a specialist car.
An older car will require much more maintenance than a newer version and older engines will be more expensive to service. Keep in mind that you’ll also have to think about obtaining essential parts, and the rarer the car the more costly it will be.
Learn basic car maintenance
Once you’ve bought the car, you now have to think about maintenance. Who’s going to foot the bill? If you have some car knowledge then it might be a good idea to do the maintenance yourself. You can attend basic maintenance classes and it could work out cheaper than paying someone a lot to make simple adjustments.
Garage
You’ll also have to make sure you have access to a garage so your car has adequate shelter from the elements. If you insure it, they’ll expect it to be kept in a garage. And yes we come to insurance. Shop around and make sure you get a policy that reflects the value of the car.
Research your car
You need to consider what you can afford when buying a car, because you’ll need to think about maintenance and insurance, and making sure your garage is adequate enough. If you have an idea on what type you want, then make sure you read as much as you can about it, and do your research. Understand as much as you can about it, so when you do find one, you’ll be able to make informed decisions as to its condition and whether you feel it’s worth a purchase.
Join a club
If in doubt then try a classic car owners club or look out for magazines and if there is a club, then make sure you attend any meetings. You’ll learn a lot, which will help add to your knowledge base.
When you view a car, take someone knowledgeable with you and always ask if you can test it first. Keep an eye out for strange noises and any marks, dints and damage to the car.
Don’t make a rush purchase
Don’t buy the first car you see because you’ve instantly fallen in love with it. You may be enthusiastic, but if you make a rush purchase you may live to regret it later. With vintage cars, there’s one thing you can be certain of, waiting for the right one is worth it and when you do find that one special car, you’ll be glad you did.