You are looking to buy your first collector car and wonder where to start. The first thing to do is decide on the type of collector car you would like to buy. Is it a sports car or a GT? Or perhaps you desire an American luxury car or a Detroit muscle car? Making that decision is the first step in the process.
After focusing on the type of car, the next step is to find one you can drive, and that means test-driving it before buying. Ideally, this should not be done at a dealership but in a privately owned car that is not for sale.
The way to do this is to connect with the car club associated with the car of your dreams and communicate with members through the club’s message board or social media page, stating that you are looking for one of these cars and would like to drive or ride in one before buying.
This is important because you need to make sure the car you are looking for actually works for you. You may find that the seats in the car you think you want are terrible, or that the specific car you are looking at is either too basic or too complicated for you, or it’s a car that just doesn’t fit you.
Complication doesn’t necessarily mean computers, but it could mean a non-synchronized gearbox, a 2-stroke engine that requires adding oil to the fuel at every fill-up, or expensive service needs.
You might discover that after doing this, you don’t really want a classic Hemi Cuda or MGB, but rather a newer Dodge Challenger Hellcat or BMW Z4. This is where you need to listen to both your heart and your head.
Either option can make sense if it’s the car that best fits your lifestyle, expectations, and personal preferences. There’s no wrong choice except for having unreasonable expectations about the car.
If, after driving the car, you still want it, immediately join the car club, which will provide you with new friends, new driving experiences, and advice on spare parts and reliable service locations.
Once you have made the informed decision that the car of your dreams is actually something you want to own, find the best book written about that specific model, and read it cover to cover.
Yes, there is a lot of information on the Internet, but not all of it is correct. Books about specific car models go through a much more extensive research process, and having learned the information from that book will make you a much more educated buyer. Many of these books will also give you a good idea about the true ownership costs of the car in question.
Next, do a bit of research on car prices to find out how much it will actually cost to buy (and operate) a good example of the car. Keep in mind that we say a good example because unless your goal is to restore a car, you’ll want a car that you can drive and enjoy right away.
The last step is the fun part, shopping. Obvious places are websites like Yacarros.com or ClassicCars.com, but don’t overlook the club’s website. Often, cars owned by club members are better described, offer more specific information, and as an added bonus, they are sometimes less expensive. Plus, you might not only see the car but also drive it before buying.
Also, talk to your new friends in the club because they might know of an owner ready to sell but hasn’t advertised the vehicle yet. Club members often know about cars coming to market before they are publicly listed and can, therefore, represent good deals.
Regardless, make sure that once you have focused on the perfect car within your budget, secure a pre-purchase inspection done by a specialist in that specific model. Again, this will allow you to save money while also giving you a good idea of anything that needs immediate attention.
However, you should also understand that, at a fundamental level, no collector car, especially one that is 25 years or older, will be perfect.
