Posts Tagged ‘Classic Car’

How To Maximize the Value of Your Classic Car

Classic CarA classic car can be a great investment that continues to go up in value every year. Classic European cars for sale always command high prices. However, if you should ever decide to sell a classic car, there are some important details you need to be aware of. It is not as simple as posting an ad in your local newspaper. If you want to get the highest price possible for your car, you will need to do a few critical steps. Here are some tips to help you maximize the value of your classic car and cash in when you sell it.

1. Inspection

Your very first order of business should be to make an appointment with a mechanic you trust and have him give the car a complete inspection. If there are any problems, be sure to have them fixed. You can be certain that any potential buyers are going to have the car inspected before they buy it, so anything you fail to fix will be discovered by the buyer’s mechanic. This could cause the buyer to have second thoughts and back out of the deal.

2. Research your asking price

In order to figure out the right price for your car, you need to research how much cars that are similar to yours have been selling for. As part of this process, make a list of all parts on the car that are not original. This will impact its value.

3. Online

List your vehicle online. You will be able to reach an enormous amount of people outside of your area by using this method.

4 Things to Think About When Restoring a Classic Car

Classic CarAre you considering restoring a classic car? There are a lot of things to take into consideration, including the purchase price, availability of parts, the expected value after restoration, and overall desirability. In the end, some cars are worth restoring and some aren’t. Of course, it’s ultimately a personal decision – you may want to restore your grandfather’s car for personal reasons even if it’s going to take a long time to find the right parts.. Read on for four things you should know about restoring a car yourself or having one restored.

1. Even if you make the smartest financial decisions possible, be prepared – restoring a car is no cheap project. In the end, the total expenditures are going to be expensive and there’s almost no way to avoid that. The more common the car is, the more you’ll save in the long run.

2. If you want to complete the restoration quickly without spending too much money or having trouble finding the right parts, opt for a car that isn’t rare. No, you won’t necessarily be the star of the next car show you attend, but you can finish the renovation sooner rather than later and possibly make a few bucks when you’re ready to sell it.

3. What you initially pay for the car has a lot to do with what you’ll be able to eventually sell it for, following the restoration. Sure, there are cars you can buy for just a few thousand dollars, but they’re not going to resell for nearly as much as a $20,000 car will. What you put in plays a big role in what you’ll get out of the investment.

4. There are plenty of companies that make reproduction parts, particularly body panels and trim for the exterior. This makes restoring a common classic car far less complicated than it might be with a rare model.

If value and parts availability aren’t a factor in your decision to restore a car, go for it! Some people have a personal attachment to a particular type of car and others simply love the challenge that their hobby brings them. Don’t want to go it alone? Get a quote from a pro to find out how much your restoration project will cost.