Is buying a classic car worth the money? We find out!

Classic carClassic cars are things of pure beauty. If you have a love for motoring, you likely appreciate old and classic vehicles.

The classic car industry is a huge business. Many people think that they can make huge profits by buying and selling old car models. It is true that some people make money out of buying classic cars, but most do not. If you are buying a classic car, you need to be realistic about how much it will cost. These vehicles are not cheap. So, is it ever worth it?

You should always make a checklist

Before you start looking for your ideal classic car, you need to make a checklist. Do you have a model in mind? You can find almost anything on the internet right now, but at what cost? You need to think about the things that you want from your car. Look at manufacturers that you like and see which model would suit you.

Is a classic car an investment?

If you are buying a classic car in the hope that you will make some money out of it, you should think twice. Classic cars cost thousands of pounds, but they also cost loads to maintain. If you buy a vehicle from a specialist dealer, you will pay a lot for your car. The chances of you selling your car on for a profit are low. The best way you can make a profit from classic cars is by buying run down vehicles and fixing them up. You need a lot of mechanical knowledge and time to fix an old, broken car. If you don’t have the time to spend on the car, forget it.

Will it be your main car?

If you are buying a classic car as your main vehicle, you need to consider the hazards of doing so. Classic cars are unreliable by nature. If you are using a classic car on a day to day basis, you will find that it often breaks. Instead, you should buy a classic vehicle to take out on occasion. You might want to take your car to classic car shows and fairs. An old car is for show more than anything else.

Classic car

Can you get an updated edition instead?

If you are looking for a car you can use every day, you should look for an updated edition of the car you love. If you love the style of classic cars, you may be able to get a new version of your favorite model. For example, if you love classic Mini Coopers, but want to use your car every single day, you can get a modern Mini instead. Many online shops, such as, have a range of new Mini Coopers. If you get a new edition of a classic car, you can be sure that it will work for you on a daily basis.

Check that your seller is legit

If you plan on buying a classic car, you need to be careful who you buy from and where you spend your money. You can find people on classified forums online with ease, but can you trust them? It is worth finding out as much as you can about your seller before you part with any cash. There are a lot of con artists out there, and if you are not smart, you could lose your money. You can check out your seller online and see whether you can find out anything about him or her. Remember, if you are not sure that you can trust someone, you shouldn’t buy a car from them. Specialist dealers will charge you a lot for your vehicle, but you can be sure that they are legit.

Get a mechanic to review the vehicle

Before you buy a classic car, you need to make sure that it is in working condition. Old cars can have all manner of problems, and so you need to see what condition each car is in before you buy it. You can ask an independent mechanic to come and take a look at the car before you buy it. You will likely have to cover the mechanic’s costs, but at least you can be sure that you are getting a great deal.

Insuring a classic vehicle

Insuring a classic vehicle does not cost as much as you might expect. Many people will tell you that your policy will be expensive when you have a classic car, but that is not always the case. Some insurers specialise in dealing with classic vehicles. You can pay a one off insurance fee for your car that will be much less than insuring a new car. Sometimes, classic car policies don’t cover everything. Classic car parts are hard to get, and so some policies will not cover major maintenance costs. Before you sign up for a certain policy, check what it covers.

Maintenance costs

If you have a major problem with your classic car, it will cost you a lot of money to fix. When you are dealing with an old car, you will find that it is harder to fix than a new car. If the manufacturers no longer makes your vehicle, you will struggle to get spare parts for it. You may have to pay premium prices for parts because an engineer has so specially make them for your vehicle. You will also need to find a quality mechanic who understands old vehicles and can help you to fix yours.

Is it worth it?

Buying a classic car as your main vehicle is never going to be worthwhile. The cost of maintaining and running a classic car on a daily basis is great. You will struggle to use your classic car every day, and you will drain your finances when you try to maintain it. Instead, you should consider a new edition of a classic car that you adore. Getting a classic car as an extra car, though, is a lot of fun. If you want a special car that you can take out on summer drives or take to shows, you will love being a classic car owner.

Written by