How to buy an antique car.
1. Decide what you are willing to pay –
- – Discuss it with professionals who are familiar with the make and model of vehicle.
- – Study the market via the Internet’s classified ads.
- – Make a list of the criteria and approximate value for vehicles you may find in ‘Excellent/Show’, ‘Good/Drivable’ and ‘Poor/Project’ condition, based on your level of expertise and needs.
- – Find some suitable vehicles, for sale or not, and discuss their value with the owners.
- – Verify your assumptions by paying a qualified appraiser for advice.
- – Consider the long term costs of insurance and replacement parts
2. Have a plan in mind for the inspection –
- – Put together a small tool kit with a flash light, tire gauge, pliers, screwdrivers, adjustable wrench, rags, etc.
- – Hire a professional mechanic to evaluate the engine and drive train.
- – Take along a copy of our Vehicle Inspection and Test Drive Checklist to assure that you do not overlook anything.
- – Take a camera with you and take lots of pictures.
3. Make a list of your goals for the first visit, such as: –
- – Find out the asking price.
- – Determine how firm the price is.
- – Get a list of all previous owners.
- – Copy down everything on the manufacturer’s name plate, particularly the VIN (Vehicle Registration Number).
- – Make a list of people and companies that are familiar with the vehicle according to the seller.
- – Make a list of awards and notable events the seller mentions.
- – Establish acceptable forms of payment.
- – Inspect the vehicle inside and out and test drive it using our checklist to assure thoroughness.
- – Take lots of pictures for future reference.
- – Schedule times for your mechanic and/or appraiser to complete their inspections, if necessary.
|Think about the purchase for at least 24 hours –
no matter how good the deal appears to be.
4. Go home and evaluate the information.
- – Talk to the list of contacts you developed.
- – Verify the list of awards and notable events.
- – Discuss concerns with professionals, members of local car clubs, or other experienced people.
- – Purchase a vehicle history report to verify the Vehicle Identification Number (VIN) and assure that it was not in any accidents.
- – Consider your checklist of physical and mechanical issues.
- – Evaluate the reports from your mechanic and appraiser.
- – Verify that the estimated value plus the estimated cost of repairs is within your budget.
5. If you decide to make an offer – how to buy an antique car
- – Determine the ‘ideal’ price (true value), a starting price and your maximum limit.
- – Acquire all necessary forms from your state Department of Motor Vehicles.
- – Notify your title and vehicle insurance agents of the pending purchase.
- – Notify your transportation company.
- – Verify that your lender is ready to participate and arrange for an acceptable form of payment.
6. Make the deal –
- – Set up an appointment for a time when there will be no rush or interruptions.
- – Share the results of your research, inspections and appraisal with the seller.
- – Offer your ‘starting’ price.
- – Negotiate up to your limit.
7. Make plans for delivery –
- – Do not make full payment until all documents are signed and you are ready to take possession.
- – Do not take the vehicle until your insurance company has been notified.
- – If you plan to have the vehicle shipped, be there to watch the loading and verify that they are bonded and insured.
- Use a reputable Car shipper like Auto transportersonline.com . Call today 866 556-6468 for a free quote or an overview of how the business works.
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