Classic car prices can be hard to determine, in part because there are so many different ways to grade the cars. Learn the basics.
Classic car prices can be astronomical, but you should learn what they are before you start shopping for classic cars. This information could also help you should you decide to buy and need classic car financing.
Classic Car Prices
Find out about classic car ratings. One system rates cars between 1 and 6, 1 being for "Parts Cars" and 6 for being "Excellent," a car that is near perfect. You don't want to pay a "Good" or 4 rated car price for a car that is 3, or "Restorable."
Check to make sure that the car hasn't been customized. You want the car to be as near to original condition as possible. Restoration is okay and often necessary. However, if you are looking at a customized car, you should subtract the amount of money that you will have to spend in order to change the car back to original form from your offer. In other words, custom cars and classic cars are two different animals, even if they started in the same place.
Do some research. There are "blue books" written specifically for classic cars that will give you an indication of car values in different conditions. Regular auto blue books don't cover older cars.
The Web is also a good source for getting information on classic car values. Check out Web sites that offer classic cars for sale. General online auction houses offer custom cars. In addition, some online auction sites specialize in handling classic cars.
In addition, search your local classifieds to get a feel what what's being sold at what price in your area. Then, widen your search. Demand and availability vary not only from county to county, but from state to state. You may be able to save enough money buying out of state that you can justify the expense of bringing the car home.
How old must a car be to become a classic? Different people have different answers.
Classic car insurance is much more difficult to find than insurance for the car you use for daily driving.
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