9 Things To Know When Buying Your First Classic Car

Everybody loves a classic car. They look cool, and owning one connects you to the history of this amazing industry. Many auto enthusiasts dream of owning such a vehicle, but finding and buying one can be tricky.

What makes a car “classic”? What pitfalls do you need to avoid when searching for one? How can you get the most out of your potential investment? There are a lot of things to know when buying your first classic car, so trust Driven Racing Oil to guide you through it.

Understand What Defines a Classic Car

Car enthusiasts refer to classic cars as old vehicles with historical or aesthetic significance. We often celebrate classic cars for their design and engineering and the nostalgia they generate.

Some people might argue about the age range—whether a car must be 20, 30, or even 50 years old to qualify—but one thing is certain: a classic car stands out for its enduring popularity. Understanding these traits can narrow down your search and separate the classic cars from old vehicles lacking in the same cultural or collectable value.

Define Your Purpose for Buying

Next, consider the purpose of your purchase. Are you buying a classic car as an investment, a restoration project, or a cruiser? Your answer shapes many aspects of your buying process, including the type of car you choose, its condition, and your budget.

If you’re buying as an investment, you should pay attention to market trends and future resale potential. On the other hand, if you’re looking for a car to enjoy on special occasions, you might prioritize style, comfort, or personal meaning over its monetary value.

Set a Realistic Budget

Setting a budget for purchasing a classic car means thinking about more than the purchase price. Your budget should also include registration, insurance, repair costs, and replacement parts.

Because of their age, classic cars require more upkeep than modern vehicles, and those repair costs can add up fast. If you need original parts or specialized labor, account for that in your budget so you’re not stuck with a car you can’t afford to enjoy. By drafting a realistic budget, you reduce the risk of financial surprises later on and prepare for the true cost of ownership.

Research Before You Buy

Research is an important part of the process. Start by narrowing your focus to a few makes and models that capture your interest. Learn about their history, strengths, and common problem areas.

Knowing the average market price for the car you’re considering will help you recognize fair deals versus overpriced ones. You may benefit from joining online forums or local clubs dedicated to the cars you’re interested in. People in these communities can provide invaluable insights about specific models, trusted sellers, and maintenance. Gathering more information will make you feel more confident when negotiating once you find a car you like.

Assess the Car’s Condition Carefully

After finding the ideal classic car, contact the seller to set up a time to evaluate its condition. Rust is one of the biggest issues for old cars, so check for that in the engine and undercarriage.

You may want to ask the seller about maintenance records to get insight into this vehicle’s history. If you're not mechanically savvy, consider hiring a professional mechanic or appraiser to perform a thorough inspection. They can identify underlying problems that might not be apparent to you. They can also provide an unbiased assessment of the car’s value.

Ask for Documentation and Ownership History

Requesting documentation is an essential step when buying your first classic car. The seller should provide the title, service records, and receipts for restorations or updates.

Learning about the car’s ownership history can add context to your purchase. Have any prominent collectors owned it, or was it more of a family car? Thorough documentation can give you an idea of how you can maintain the car and give you more security about its authenticity.

Know the Value of Originality

One thing to know when buying your first classic car is the importance of originality. Vehicles with their original engines, interiors, and seating generally fetch higher prices than those with aftermarket or replacement parts.

Of course, sticking with original parts means the car may require more maintenance than vehicles with modern components. Restored cars are visually appealing and functional on the road, but diehard collectors may not appreciate them as much. Decide whether maintaining originality is a priority for you, as it will influence your approach to buying and ownership.

Think About Storage and Maintenance

Owning a classic car involves unique storage and maintenance considerations. Classic cars often require climate-controlled storage to prevent damage from humidity, temperature fluctuations, or sunlight. If you live in an area with a harsh climate, you should invest in vehicle storage to preserve your new car’s value over time.

Routine maintenance also differs from what you might expect. You may need to do oil changes, tire care, and brake inspections more frequently than with a modern vehicle. In addition, you may struggle to find sources for replacement parts, so working with a classic car repair shop can prevent issues down the road.

Be Cautious About Auctions

Auctions may seem like a thrilling way to purchase a classic car, but they pose risks. Auction houses appeal to a buyer’s emotions, which may result in overbidding. Before you attend a classic car auction, establish a firm total bid price and don’t go over it.

You can usually check what vehicles an auction will have ahead of time, giving you an opportunity to confirm a fair price. Keep in mind that bidding competition may drive up prices beyond what you’d pay through a private sale or dealership. Sometimes, you can get a great deal at an auction, but you need to be composed and prepared.

Once you have a classic car, you want to take good care of it. Trust Driven Racing Oil’s specially formulated classic engine oil. We understand the unique needs of older engines and want to help your classic car run smoothly. Explore our products today, and give your pride and joy the care it deserves.