You’ve heard it all too often before, how a car cannot really be viewed as an investment, but rather a liability which does nothing but cause money to flow one way, and that is out of your bank account. As true as this is, a car is perhaps an essential liability which can be seen as an asset depending on the value it offers you. I mean if you like the freedom of having what is essentially unlimited mobility, then the costs associated with the upkeep of a car are costs you’d definitely be willing to make provisions for. If even a brand new car is a liability though, what about a classic car?
Classic cars undoubtedly look very good on the eye, particularly for those who have a true appreciation for the classics and the times of true innovation they represent. But is it very practical to buy a classic car though, when the mere fact that it is indeed a classic would suggest that things like service plans are non-existent, while spare parts would probably be rare with this scarcity only serving to add to the associated running and maintenance costs? Would you be able to get it financed if you have to? I mean, getting car finance with bad credit is perhaps the least of your concerns because that is indeed possible, but what about the unique situation surrounding the market-valuation of something like a classic car, especially if you’re looking at arranging insurance for it as well or getting a tailor-made service plan?
All of these mentioned considerations undoubtedly make for some legitimate concerns, but if you do your homework right then buying a classic car can work out to be very practical.
Which Classic Car Model to Choose
You probably have a preferred classic car model in mind, which is probably why you have an interest in the classics in the first place. Unlike brand new cars however, with classics it’s never really a matter of just going with the one you like. When selecting a classic car you have to consider the practicalities around mechanical issues, such as where you’d take it if it broke down. So the best choice would be of a car which is firstly sold by a specialist dealer in classic cars because they’d then naturally work very closely with specialist classic car servicers. Las Vegas comes to mind as a loose but great example of a vibrant classic car market which is driven by an eager community of classic car owners, dealers, traders, mechanics, enthusiasts, etc. If you drive around Las Vegas in a classic, particularly in the residential areas, chances are someone will try to stop you with the possibility of negotiating a price to take it off your hands.
Bringing things closer to home, there are a lot of classic and even vintage car clubs through which members get together at race tracks and at some parks, indicating that there is indeed a market. It may be somewhat of a niche market, but once you get introduced into the inner-workings of this market, you’ll have no problem firstly getting a good classic car, and secondly accessing everything you need for its upkeep. Some appropriate advice from knowledgeable sources can go a long way, such as perhaps getting a newer engine to put under the hood of your classic-styled car body.