Buying a Classic Car Showstopper
Whether it’s the swooping lines of 60’s British cars, menacing classic Americana, 80’s wedge or any other era, one thing is for sure, we all have a favourite classic car. In the past, collecting classic cars was seen as a time consuming and potentially financially ruinous hobby, but the times really are changing. With classic cars now hot property thousands of us are snapping up our favourites, not only as a toy but as an investment for the future.
With so many switched on to the potential of classic cars it is becoming harder and harder to actually make any money when selling them. A well-restored classic such as a Jaguar E-type can cost as much as £100,000, even a classic Mini Cooper in perfect condition will likely set you back over £10,000. There is still one way that you can invest in a classic car and make a profit in future, by buying one that is slightly rough around the edges and bringing it back to its’ former glory. In this blog we thought we would put together a quick list of things that you will want to do to ensure that you stand the best chance of a profit;
1. Look inland – Classic cars are notorious for being susceptible to rust and there really is nothing worse than seeing your beloved classic turning into a pile of oxidisation. Salt water is especially damaging for chassis and metalwork so looking inland can help you to avoid the rust issue.
2. Take a mechanic – If you are going to see a potential investment then it can pay to take along a mechanically minded friend or to take the car to a local mechanic before committing.
3. Take it for an extended test drive – Many issues that a classic car can have, won’t rear their heads on a short test drive, so make sure you arrange for an extended test drive. It’s important to not be precious about the car too; drive it with a little gusto as this is sure to highlight any obvious mechanical maladies.
4. Barter! – If your chosen classic has a few dings and dints then make sure that you highlight these to the seller. Being belligerent will get you nowhere but gentle and insistent bargaining can net you great savings.
5. Fix it up – As a leading provider of car body repairs in Wimbledon we know just how important it is to get your classic car looking good before selling it on. By letting us buff out all those rough edges you are sure to polish some more profit into it.
Following these tips will hopefully make sure that you end up with a wallet that won’t fit in your pocket and happy memories of your days with the car. If you have any questions on any of our services then don’t hesitate to contact us and we will be happy to help.
