probably noticed this model of car when driving your own and
pointed it out to your bemused passenger. For a while now it's
probably been in the back of your mind on every sunny day. And
now for one reason or another you feel close to finally making
the decision. You're probably very excited… and maybe a little
scared…
What follows is some common advice to help make sure that the
love affair you are about to embark on is as pleasurable as
possible, and help you avoid some of the disaster stories
associated with classic and performance car ownership.
When to buy
Most people agree Autumn or Winter is the wisest time to shop
for an classic or performance car. Many people will hold onto
their cars during the summer to get the last season of enjoyment
out of it before letting go. In addition a lot of would-be
owners don't think about their dream until the sun starts to
shine again. So at this time of year it is generally a buyer's
market, offering the best bargains.
Choosing the right car for you
Before you dive into shopping for your dream car, it's worth
stepping back an giving some careful thought to what you want
from your car.
Do you want:
- A restoration project? Often people find this approach far
more expensive than simply buying a car in good condition to
start with. It also can take considerably longer than you
expect, but if you are a skilled mechanic with plenty of time on
your hands, you just may want to take it on.
- A good runner that you can tinker with in your spare time
and gradually improve? Make sure you have a good set of tools
and lots of spare time – you may be tinkering more than you
anticipated.
- An everyday car? There are many classic and performance cars
that are suitable for everyday use, but you may want to
carefully consider fuel efficiency, safety and all weather use
before you commit.
- A Sunday/Summer driver? Reliability and easy upkeep are
probably your primary concerns. Plus pose factor of course!
- An investment opportunity? I personally wouldn't bet on it.
However a large number of classic and performance cars won't
depreciate significantly, so you're still better off.
- A show winner? Glory could be yours! Or not.
You probably have a marque and model in mind, but if not, you
can inspire yourself by attending car shows, reading car
magazines, or simply surfing the web. Popular cars tend to be a
good choice for first-timers, usually they are plentiful and
it's easy to find information, parts and help. Coltmans also
offers a wealth of information on a wide range of popular
classic and performance cars, including high quality buyer's
guides – why not choose a few see what takes your fancy.
Where to look
There are many, many places to find a classic car. These
include online and physical auction, dealers, classified ads in
magazines, owners clubs and of course a plethora of websites. My
recommendation: start with Google!
What to look for
Once you've chosen the make and model of your dream car - make
sure you do your research. Why not get hold of a Coltmans Buyers
Guide, which cover everything potential owners need to know,
including: history, model details, specs and stats, detailed
buying tips and a price guide.
Obviously a big consideration is price – but working out how
much you should pay can be difficult. Publications such as
Parker's can provide clear guidelines for modern cars, but for
classics you will have to do a little more research. The
following make good sources of pricing information :
- Classifieds sections in magazines for typical prices
- Recommended valuations by car owners clubs
- Similar sold items on Ebay
- Search the web!
It's a cliché, but when it comes to buying a classic or
performance car you get what you pay for.
Preparing to go and see it
So, you've found something you're interested in. Typically
you'll start the process with a phone call and a list of
questions. It's important that you get the right information at
this stage so you don't waste time and disappoint yourself. You
are trying to establish:
- The authenticity of the seller (if a private sale)
How long have you owned the car? Why are you selling? Be
suspicious about people selling `for a friend', or those that
want to meet you away from there home or work address.
- The condition of the vehicle
How many owners? Any problems? Any repairs needed?
- The terms of the sale
Roughly how much are you asking for? Don't reveal your budget
at this stage.
If it sounds good, ask to arrange a viewing and a test drive.
You may want to arrange for a mechanic, vehicle inspector or
knowledgeable friend to go with you. If you do plan to bring
somebody along, let the seller know now so they are not
surprised when you arrive.
Prepare a checklist (available in each Coltmans Buyers Guide)
and print it out. Take this with you and keep your maximum
budget and must-have requirements clear in your mind.
Viewings and test drives
You'll find yourself looking for the car from up the street.
And when you do see it (assuming it's not a wreck) it can be
quite an emotional experience. Like Christmas morning as a
child. STOP. Calm down. Steel yourself the realisation that you
are about to part with cold, hard cash. Remember that this isn't
the only one out there, and that its worth getting what you
really want.
So introductions are over its time to get on with it. My
recommendation would be to focus first on three key things:
1. Condition
2. Condition
3. Condition
Alright I know that's only one. The point is that it can be
very easy to forgive lots of fault in a beautiful car. You need
to keep your standards realistic relative to your budget, but
typically skimping here will end up costing you more in the long
run. If you choose a car that is in poor condition, it is likely
that it has not be well maintained and may be needing a lot more
than just a polish.
Remember however that a regularly used car kept in good
condition (including regular servicing) is likely to be a more
reliable motor that one that sits motionless for most of the
year. Also bear in mind that a classic car could be 30 or more
years old, and it highly likely a car of that age will have some
faults. Don't let that put you off – with classics it's not
about finding a perfect vehicle – it's about deciding what you
can live with and what you can't.
Go through your checklist and don't be afraid to ask
challenging or basic questions. Try to ask for facts rather than
opinions, and don't be rushed or intimidated into hurrying your
inspection. Review all documentation in detail, but remember
that older classic cars may not have a slightly sketchier
history after lots of owners.
A test drive is very, very important, but is also a dangerous
time when you can easily fall in love with a car. Often in a
private sale, the owner will not let you drive without
demonstrating you have adequate insurance. I have bought several
cars after being a passenger during a test drive. Just watch the
driver carefully for any strange behaviour which might be he is
compensating for a poor car. On the drive keep all your senses
open to any unusual noises, vibrations or movements and check
instrumentation is working properly. Once again don't be afraid
to ask about anything that makes you curious. Above all try to
imagine if the car was yours - how does it make you feel? Should
be pretty damn spectacular….
Closing the deal
Assuming the test drive went well, you may well be ready to
make an offer. I don't intend to teach negotiation in this
article, but it might help to remember a few basic things:
- There is always room to haggle and it's always worth making a
low offer
Remember it is very, very unlikely this car is a one-off – you
can find another one somewhere else
- Know your limits. If you spend too much you may not be able
to maintain your car
- Above all – use your HEAD – but not too much – buying a
beautiful car can be a very special experience.
Taking it home
Just a few things that you should bear in mind.
1. Insurance. Make should you find out what the insurance is
likely to be in advance and include it in your budgeting. Then
make sure you remember to take it out before you drive home!
2. Storage. Storing a classic car will help preserve its
condition and its value. A garage is obviously ideal – don't
forget you may be able to rent a garage even if you don't have
one on your property. If no garage is available consider an
outdoor cover. Make sure it is breathable and waterproof.
3. Be prepared! Classic and performance cars can often be very
expensive to maintain. Ensure you have budgeted for this. There
is no point owning your dream car if you can't afford to keep it
running.
Finally... good luck and enjoy!
About The Author: Gareth Coltman is the CEO and Editor of
Coltmans. Coltmans provides buying and ownership advice covering
both classic and performance cars, including premium buyers
guides.
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