Determining Classic Car Values

Classic car values are determined by a number of factors, and you will need to learn them before you start shopping for a classic car. This can also help you get classic car financing if you find a vehicle that you would like to purchase.

Rating Classic Cars

Classic cars can be rated in six different categories. The category in which a car is rated will affect the vehicles overall value. The categories are:

• Excellent. This car, which is typically not driven, is either an original that has few flaws or has been restored professionally to a "perfect" or nearly flawless level.
• Fine. Fine cars have been professionally restored and don't show wear or are originals that have weathered time extremely well.
• Very Good. Very good classic cars, whether restored or in original condition, show some wear. However, these cars look good overall and function well.
• Good. Classic cars in the "Good" category may need painting or minor body work, but have all of their parts and are drivable.
• Restorable. Restorable classic cars need restoration and if not drivable, can be fixed so that the cars will run.
• Parts Car. Parts cars are too damaged to be completely restored and can only be used for parts. A classic car can be a parts car even if the car can be driven.

Classic autos can also be rated in a point system, based on a maximum of 100 points. For example, an excellent car would have a rating of 95 or more while a fine car would fall in the 90 to 95 point range.

Other Tips for Classic Car Values

Other factors can affect the value of a classic car. For example, the price for a given model and year may change as demand rises or falls. In addition, demand may vary geographically. You may be able to buy your dream car in another state and still save money over buying the car at home.

Make sure that the car hasn't been customized. Customized cars aren't the same as classic cars even when looking at the exact same model and year. If you really want a classic car, you should take into account how much money you will have to spend to restore the custom car to its original condition before you make an offer.