Whether you have a genuine love and passion for vintage cars, want to make a few bucks, or both, starting a classic car collection can be a great move. If you choose the right models and know how to pick them, then your collection could end up appreciating in value. However, it is not for everyone. Collecting classic cars requires dedication and hard work to keep up. You might also lose money on some vehicles because you made a wrong decision. Let’s take a look at a few things you should consider before starting a classic car collection
Storage
Source: supercarmanagementservices.com
This is one of the first things you’ll need to think about. Chances are you’ll have to purchase storage space if you intend to buy multiple cars. Even if you have a large lot, old cars are very sensitive to things such as humidity, so you need to find a controlled environment where they can preserve their appearance and not fall victim to rot, rust, or mold.
If you’re looking for a storage place, we suggest you check out Veloce Motors The Vault. Not only will they allow you to store the vehicle there, but they could also help you sell the vehicle through their consignment service.
Condition and Spare Parts
Source: pexels.com
It’s not uncommon for older vehicles to have suffered some damage, but some damage is worse than others. If you hear that a car suffered water damage, this is usually very bad news. This often means that you may have to deal with severe electrical or motor issues. So, think twice about these types of vehicles.
We also suggest that you look at what the market looks like for spare parts. The more parts there are available, the lower the cost will be. You first want to check if the car has common issues. Then start looking at which parts would need to be replaced and how much they cost. In some cases, some parts might be close to impossible to find. It would be better to look at other options if that happens, even if you love the car.
If you’re a novice, it’s very important that you pick your first car smartly. Going for something that is too rare will make it harder for you to find parts. If we were to give you one piece of advice, it would be to stick to classics from the 80s for now. These tend to be a better option because there will be more parts for them and more people will be able to service them.
“If you want to buy a luxury car, please make sure you do your research first. I recommend you to check the resale value and other major aspects on car websites. If you’re buying a luxury car for your personal collection, doing due diligence before purchasing it is a must.” – Corey Tyner of coreybuysclassiccars.com
Do You Intend to Drive it?
Source: pexels.com
If you intend to drive the vehicle, there are other things you will need to consider. You first need to make sure that it will pass inspection. Then, you need to start looking for insurance.
Insurance will usually be much more expensive for classic cars, but there are huge differences between brands and models. So, make sure you do your research on which vehicles cost the most to cover and which ones are the most affordable.
These are just some of the things you’ll need to pay special attention to when shopping for classic vehicles. The most important is taking your time and picking the right cars to start your collection.
