Classic cars were always in demand, and the classic models were in high demand. Nothing beats the charm of cruising through the city roads in a fully functional classic car. Many people dream of the same and tend to break their bank to acquire classic auto. For some people, it is all about admiring the craftsmanship of classic vehicles. For many others, it is enjoying the exclusivity of owning a refined piece of mechanics and art.
In fact, acquiring one of these classic beauties does not come so cheap. You need to spend a fair sum and have good credit scores to get financing. It is not easy to identify a good classic car, and there are several aspects to look for on purchasing one. Here, we will discuss some of the important things to consider while trying to acquire a classic car.
Bernshtam tips for purchasing a classic car
- Finding a good dealer
You can get various options like specialized car dealers or directly from a private seller etc. The dealers may be expensive compared to individual sellers, but the latter is not always available when you are in need. It is also a fact that it will be safer to deal with authentic dealers who will help you arrange loans and do the mechanical works and repairs of such vehicles. Bernshtam points out the fact that dealers also may have a wider collection to choose from if you are not specific about a model. Even though private sellers can be cheaper, you may not get complete coverage and ease of transaction like dealing with car dealers.
- Getting the right model
Based on your preferences, one may find your dream card or something that is closely matching. However, you need to consider the features and performance in order to ensure that you get the apt one to use. For example, you can consider Ferrari 330GTC or 330GT as your choice. Both have similar specs; however, having different engines and top speeds may vary. You need to evaluate the available choices based on your preferences and then narrow down the choices with the specifics. Ask yourself whether it is worth investing money into a model matching your actual dream car, which does not have enough horsepower for performance and compromised interiors.
- Insurance
Most of the time, the insurers for classic cars may turn out to be notorious for undervaluing these vehicles. Many may have the assumption that the drivers may keep the mileage low but may keep the maintenance level high on the vehicle. You should be careful not to fall victim to this trap. Focus on clubbing together with a good value policy that both parties can agree upon. It also ensures that it has comprehensive coverage, including spare parts and protection from theft and damage.
Bernshtam also suggests that one should check for other factors too, like mileage and the overall cost of owning a classic vehicle, to finalize your choices while planning to buy classic cars. It is estimated that they may need at least 5.5 million new homes to meet up with this demand. However, this shortage has not popped up overnight. Back in 2019, a report showed the shortage of about 3.8 million homes, but the housing market is red hot in 2022, and the demand is at an all-time high.
