Do you List Classic, Collectible, Exotic, and Muscle Cars that are not running?
No. We only list cars that have been fully inspected / functional and all parts which are required to make the vehicle fully functional and operable are included with the price of the car. That means if the car is not running, it will not be listed on our site. We either remove the car, or sale the car ‘as is’.
Is there a formula for finding the value of a car as listed on your website?
Yes. There are reasons why one car is worth more than another. The most important are: 1) Rarity 2) Condition 3) Potential Investment Potential 4) Demand 5) Rarity 6) Ownership.
Why Rarity: Rarity is important because it determines how much any particular car is worth. Rarity is based on how many are available for sale at the time of listing and how much time a particular car spends on the road (in other words: if a car is rare and has stayed in its current condition (as stated by the seller’s description), it is more valuable than if it is in disrepair, or has been wrecked, and just needs a lot of work…
Why Condition: Condition is important because it affects the potential investment potential for a car. This is the first thing a customer notices, and most customers make their purchasing decision on this factor.
Why Potential Investment Potential: Potential investment potential is important because it is the primary determining factor as to WHY a particular car will sell for a particular price in the first place.
Why Ownership: Ownership is important because it is an estimate of how many hands the car has been through in the past and whether it was was well maintained.
Why Demand: Demand is important because demand determines what the potential investment return is for a particular vehicle, and in turn what the market might be for a particular vehicle.
Why Rarity… and Condition… and Ownership… and Demand: All of these factors affect why a car is worth $2000 or whatever. Rarity is probably the most important however.
Why don't I know how much my car is worth, and often the dealer or auto broker has no idea?
This is a problem with the auto industry and it lies in the fact that car salesmen, auto brokers and insurance agents are not experts on classic and collectable cars. Therefore they cannot correctly assess the demand or potential for investment in a particular classic car.
How do I buy a classic car?
1. Do your research first
It’s one thing to be drawn to a car, but actually owning that car can present some major challenges. The ride of your dreams may come with a slew of extra costs such as upkeep, repairs, and insurance. Depending on the age or model, finding parts to keep the car running could become a hassle in itself. Know what you’re getting into beforehand, and find a vehicle that’s right for you.
2. Listen to other car enthusiasts
Hobbyists all over the world have plenty of input to give on cars, so make time to listen to them. Sites that can help you buy a classic car may also have forums or blogs that attract car enthusiasts. As such, their thoughts might give you exactly what you need to know. Looking into auto magazines is also a good idea since they can lead you to specialized shops or museums. Where to Buy Classic Cars: Do’s and Don’ts for Private Sales
3. Follow your passion
While a budget may be the biggest sticking point, you have to figure out what you actually want to do with a classic vehicle first. Some people are eager to take it for a spin, while others prefer to add it to their collection. There’s no wrong way to do it, but you still have to consider what you want out of a vehicle and how much work you’re ready to put into it if any. Even beyond the investment, if you buy a car that doesn’t make you happy, then it’s going to give you buyer’s remorse in the future.
4. Don’t buy anything without an inspection
A car might look good in an image online, but there could be plenty of problems with it once you see it in person. If possible, try to arrange a meeting so that you can have a look at the car for yourself. If you can’t, then ask a professional or enthusiast you trust to do it on your behalf.
Learn about a specific vehicle. Learn about the variations, differences and common options that are available for the vehicle. For better results and more information do not buy from the dealer, they usually are not experts on automobiles. Buy from a private seller. If you want to buy classic cars of higher value without paying the dealer price (round trip) take the car to an antique car show, have it appraised and find another private seller. As the car will be only known to you and the seller it is a good idea to make a written offer. This is a good way to learn about potential vehicles, and price them accordingly.