Choosing a Classic Car

Starting your own classic car collection is a fun hobby, but you need to start this hobby with caution. Take time to learn the market and understand the vehicles you are looking at. You also want to make sure that you aren’t biting off more than you can chew. If you are looking at a car that is in need of some TLC make sure that you are in it to win it! Nothing is worse than watching your money sit rotting in the garage.

 

Really take your time looking at your options. Create a list of the things you like and dislike (for example: make, time frame, size, shape, motor, etc.). Compiling all your classic car thoughts will help you narrow your search and provide focus to your mission. This classic car’s list is a great place to start.

Investment or Play Time?

Provide context to your search by determining your goals. Are you looking to invest and gain ROI or are you looking to cruise around in the car of your dreams? Maybe you are looking to do a little bit of both?

 

Research the vehicles shelf life and value timeline. Luxury and sports vehicles typically hold their value well but it’s good to look into the specifics.

Cars that were mass produced are less rare. You will be able to find replacement parts easily but the cars are typically worth less.

It’s tempting to flock to the unique vehicles. In the eyes of the savvy investor rare cars are appealing. But be careful, finding replacement parts can be difficult for these vehicles.

Now, there is an upside to this. Let’s say you are serious about purchasing a classic car that needs restoration and you have both the financial resources and the follow-through to complete the task. It's possible to find a great deal on someone else's project that is already underway. If you shop carefully, you can find a great deal and save yourself time and money.

Get an Auto Inspection!

Once you’ve narrowed down your selection and found your dream classic car you are done, right? Wrong! You need to have the vehicle inspected. You need to understand what you are getting into before dropping big money.

 

The team at Lemon Squad is here to make sure that you don’t buy a lemon. Contact us today for an auto inspection and know what you are getting into!