To be a knowledgeable buyer, the biggest chunk of your time will be spent in what I call the homework or prep stage. Probably 70 percent of your time will be spent studying classic car sale information, researching, and consulting with trusted friends or experts as to the authenticity and details of the car. After you have done your homework, the rest is a simple buying transaction. The more prepared a buyer, the smoother and faster the transaction.
What this means is you will need to invest the necessary time and money to thoroughly research what you are buying. It is all about the preparation. The one thing that rings true is either you are going to spend the time or money to investigate your potential purchase or you hire an expert to handle the transaction for start to finish.
Three Tips to Prevent Classic Car Scams
1. Know What You Want to Purchase
The top details for clarity are knowing what you are looking for, how much you have to spend, and how far you are willing to travel. Buying a vintage classic or muscle car is an exercise in search and process of elimination. Think of yourself as a modern day Sherlock Holmes. There is no use in looking at a show car if you can realistically only afford a project car or a weekend cruiser.
Because the internet has made our world smaller, do not waste a buyer’s time if they live halfway across the country and you are only willing to buy locally.
Check the NADA price guide so you have a ballpark of what the car will cost depending on condition. If the deal is too good to be true, (Are you really going to buy a 1969 Camaro in great condition for $5000?) then it could be scam. If you contact the seller and they insist on wiring a deposit, then you will know for sure it is a scam. Guaranteed you will never see the cash again!
2. Research Your Vehicle
Buying a classic car has become serious business. Classic cars for sale are now selling for what I paid for my first house. Would you buy a house with out having a house inspection? Probably not. The same goes with buying a muscle car for sale. Do your research. Get as much information as you can about the make, model, and year, and options of the car. The more educated you are about the car, the better you can negotiate if needed. And it also indicates to the seller that you know what you are talking about.
The internet makes it easy to do research. Join a forum that is focused on the type of car you are looking to buy. I know serious car collectors who will not buy a car unless they bring in an expert or guru to look at it first. If it is good enough for them, it is probably an idea you may want to consider. There nothing wrong about not knowing everything about a car. You definitely want to avoid paying for what looks like a highly desirable car only to find out that it is a clone.
Many people have saved themselves thousands and even hundreds of thousands of dollars just by paying an expert to inspect and document a car. If the car is extremely desirable and rare, the old adage of you can pay me now, or you can pay me later applies. Either hire an expert, or talk with someone you trust who can help you look at the car. Online car forums and clubs are great resources for this type of information.
3) Make Sure All Your Questions Get Answered
Do not be afraid to ask questions. Having clarity gives you the confidence to make a buying decision. This serves many purposes. Before you physically look at the car, contact the seller and ask the important questions.
Here are a number of key questions to ask the seller even if the details are not mentioned in the ad (This can double check the seller’s credibility that they really do know the details about their car). I find asking questions in categories is useful in organizing the information.
Engine, Drive Train, Options
* What is original to the car? (Engine, transmission, differential)
* Drive train specs (hp, engine size, rear axle ratio, transmission type)
* Options – A/C PS, PB, Vinyl roof, trim packages
* How does it run?
Body and Interior
* Interior color and condition?
* Body panels original, any accidents, frame damage, paint and body panel condition?
* Currently inspected and roadworthy or project restoration car?
* Mileage and any known mechanical problems?
Title and Price
* Does the car have a “clean” title?
* What is the asking price or at least a ballpark figure
How does it look?
* Can you get detailed digital pictures? If so, get A LOT so you can see every detail.
* Send to experts or post on a forum for opinions. The seller may think the car is all original, but may not know. An expert can spot the obvious.
Logistics
* Will they allow you to bring in an expert, or independent third party to
inspect and verify the car (If not, RUN from the deal. Do not walk)?
* Is there a place locally where you could arrange to put the car up on
a lift and do a visual and physical inspection?
This may sound like a lot of work, but it is fundamental for a solid transaction where you get exactly what you want.
The best piece of advice I can offer is to remember you are in control of the
transaction. If there is something that does not feel right about the car or the seller or anything related to the transaction, let it go. This includes being pressured by a seller to make a quick decision. If a deal is going to work, it needs to be natural and a win-win situation for both parties. There is normally something fishy going on, if a seller starts to hard close a deal. There is no use in trying to force a deal to work from either party.
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Filed under Classic Cars by on Mar 10th, 2009. Comment. 
The reason most people need to define their car as classic or vintage is for insurance purposes. You should always have insurance coverage on your vehicle. If anything were to happen to it you would otherwise have to pay for it out of your own pocket. And that’s a chance that should never be taken with any old vehicle. Many insurance companies have a rule that the car must be at least 25 years old or older to be considered a classic. If the car is older than the 1930s it will likely be considered vintage. Of course some agencies even have a historical status for vehicles of certain ages so be sure to inquire fully.
Currently it seems that there is no concrete definition of a classic car. To some it is an old hotrod from the 1950s and for others it is the muscle cars of the 1970s. This term gets a little sticky because the definition seems to change with every person asked.
According to the Classic Car Club of America a classic automobile is any one that has been built between the years of 1925 and 1948. This is an indication of how drastically different the opinions are from resource to resource. That definition does apply to cars that were either domestic or foreign built. If you check out the club’s website and find a car missing from their classic list that you feel should be there, you can actually petition the site to add it to their list. It doesn’t mean that they will but it’s certainly worth a try.
You will likely find that different organizations or car clubs will have their own definitions of vintage and classic cars. Many different factors affect these choices too such as the popularity of the car then and now as well as the make, model and historical value. For instance, models of vehicles that appeared on TV or in movies tend to have a higher ranking classic status than those that did not.
The rarity of the vehicle also may play a role in if it is classic or vintage. A car that is exceptionally rare will likely have a higher numerical value attached to it. This can affect what category it falls into. Do not stop searching for definitions at just one source. Compare and contrast them, form your own definition if need be based on what you find. A professional opinion is recommended for extremely valuable or rare vehicles.
Filed under Classic Cars by on Mar 12th, 2009. Comment.
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