If you love classic cars, but car shows and races aren’t enough for you anymore, the next step might be to pick up your own classic to keep in your garage. It isn’t as easy as hitting up Craigslist and picking up the first classic car that catches your eye. Here are eight things you should know before buying your first classic car.
Old vs. Classic
There’s a big difference between old and a typical classic car. Any car can be old, but classic cars must fit specific criteria. To be considered classic, cars need to be rare or special in some way — part of a limited run, or a make or model with very limited availability. The car has to be between 20 and 50 years old, and it needs to be unmodified — modded cars are no longer considered classic.
Mileage
How many miles does your classic car have? There are no minimum or maximum mileage requirements for a classic car, but if you can get your hands on a 20-year-old classic that only has 50,000 miles on it, it will probably be in better shape than the same model with 200,000 miles. Higher mileage isn’t necessarily a deal-breaker, just something you need to be aware of.
Make Sure the Numbers Match
Classic cars need repairs — that’s just a fact of life. If you’re looking for a high-quality classic car, one good thing to do is make sure the numbers match. The motor, transmission and rear end will all have either part of the VIN or date codes that make it easy to tell if the equipment is original or a replacement. Again, it’s probably not a deal-breaker, but if you’re looking for an all-original classic, you’re going to want to make sure the numbers and date codes line up.
Have Somewhere to Store It
You don’t want to spend thousands of dollars on a classic car to just leave it out on your driveway, do you? Make sure you have somewhere ready to store your new purchase. Check your garage door, and make sure it is straight on its tracks and that it opens and closes smoothly. If you have an electric garage door opener, check that it works. These cars are our babies — it’s up to us to take care of them, and leaving them exposed to the elements or thieves is not responsible. Make sure you clean up the area, too. A cluttered garage could easily lead to dents and scratches on your new ride.
Stick to Your Budget
Classic cars, especially ones that are in good shape, are not cheap. It’s tempting to take out a second mortgage just to get the car of your dreams, but you’ll just leave yourself in a position where you might have to sell it later. Set a budget — one you can afford — and stick to it. If your dream car is too expensive, wait — another, more affordable, version might come along soon.
Big-Block Is Better
There are so many different types of engines, it is important to find the best option for your classic car. Big-block engines — like those in Mustangs, Camaros, Corvettes and the like — are among the most popular. They’re easier to work on and find parts for than some more obscure engines — and, they’re also easy to sell if you want to find a project car to restore and sell later on.
Think About Use
How are you planning to use your classic car? Is it going to be your daily driver, or are you planning on keeping it in your garage and using it for shows? Are you going to modify it for the track? Keep that in mind when you’re picking your classic car — for a daily driver, you might want a car with less mileage or a better maintenance history. For a track car, you can work with nearly anything that fits your class restrictions for races.
Do Your Research
Do your research before you sign on the dotted line. Look into the car’s history to find whether it’s experienced an accident or damage, and what the average retail value is for a car of that make, model and year. The last thing you need is to purchase your car and bring it home, only to find rust has damaged the frame or a flood has waterlogged the engine.
Purchasing a classic car can be a great way to add to your collection. Just make sure you do the research first — don’t go into this purchase blind!