Whenever we think about purchasing a new car, it’s difficult not to remember a common warning. Don’t spend a fortune on your vehicle. You’ll lose most of that money in a few years, thanks to the joys of depreciation. You also shouldn’t forget that if you’re not careful, depreciation can occur a lot faster than it should. For instance, if you don’t look after your vehicle, you’ll find it loses value far more rapidly. That said, there are ways, to make sure your next car purchase is an investment rather than a loss. If you do this, you’ll be able to sell the car on and make money from the sale. But you can only do this if you make the right decisions when making a purchase. There are a few ways you can start making sure your next car is an investment rather than a waste.
Buying A Classic Or Collectible
One possibility is to buy a car that is considered to be a classic or a collectible. Some brands of a vehicle are more likely to have this label than others. For instance, almost every Jaguar you can think of will be considered by a classic by someone in the world. This is perhaps the difficulty of buying a car that’s a collectible. Someone will always think that a car is worth more than it is. That’s why you need to get advice from the right people.
If you want to find the true car collectibles, it’s best to look at classic car sites. There you will find all the models that are appreciating in value rather than deteriorating. Don’t forget; you can still drive a collectible car once you have made the purchase. You just need to make sure that you keep it in good condition. We’ll talk more about this later.
If you choose to buy a classic car, you will need to think about where you buy it from. Typically, you’re going to be buying from a private seller. You won’t often see collectibles on sale at a typical car garage. You will usually come across one due to an advertisement from a private seller online. You’re going to notice one important detail about a classic car on sale.
It’s going to be expensive. If it’s not an obscene asking price for an older car, be very wary indeed. Chances are that it’s in a poor condition. If this is the case, it’s not going to be worth as much money as it should be. At the same time, however, if you’re spending a lot of money on a car you need to make sure that it is worth the price.
That’s why we recommend you do complete some typical checks before you buy. The first check you should make is a complete vehicle history check. By doing this you will find out all the information you need about the car including any reports from the place. By doing this, you’ll be able to find out important facts. For instance, you will see whether or not the car has been in an accident or stolen. You’d be surprised the type of astounding facts these type of checks often bring to light.
Everything important should come up in a full car history check. But, you should also look at the car closely. You need to make sure that no parts have been replaced or repaired. Don’t forget, if the driver did not alert his insurance company about a crash, there will be no record. He could easily have replaced a part, and the only way to tell is by looking at the car. If the car is going to be used, you should also arrange a test drive. Some problems with a vehicle will only become apparent when it is out on the road.
A Simple Way Of Buying A Class Car
If you don’t know much about cars, there’s an easy way to buy a classic. You just need to look for a car on sale that has appeared in a Hollywood movie. Any car that has been seen on the silver screen is commonly viewed to be a collectible. But remember it must be the same make, model, and year. It should also be the same color, if you want the best price for a future sale.
We wouldn’t suggest that you look for these types of cars online. You’ll probably find them, but the seller will be trying to shift it due to a problem with the vehicle. If you want the real deal, you need to head to a car auction. This is the place where these types of cars tend to pop up. If you’re attending an auction, you can almost guarantee the car will be in perfect working order. Auctions are often held only with highly valuable collectibles. Again, expect to spend a lot of money on this particular investment.
Some examples of cars that have appeared on the silver screen are the 1971 Ford Mustang Eleanor. Famously scene in the adrenaline, fuel filled ride, Gone In Sixty Seconds. Or, even the 1962 Volkswagen Beetle from Herbie. In a few years, you can expect most of the cars appearing in The Fast And The Furious to be considered collectibles.
After You Buy
Once you’ve bought the car your future investment is in place. But you must remember that a classic car could still depreciate if it’s not properly looked after. You need to make sure that you are doing everything you can to keep the vehicle in good working order.
For instance, you should not, under any circumstances leave the car out at night or in bad weather conditions. You probably wouldn’t worry about leaving your typical car out in the rain. But, when you buy a collectible, you should worry about water damage. Particularly, if the car was made before the seventies. At this time, paint application was different and heavy rain could damage the paint work. Even if you do leave your car out in the rain, you should definitely not leave it in cold conditions. Ice will almost certainly cause damage to the vehicle.
Ideally, you should get a protective cover for the car if it’s outside. At night, the car should be stored safely in your garage. In the winter, your car should be locked away in storage until the weather improves.
It’s also important to get regular maintenance checks on the vehicle. You need to make sure it is in good working condition but be careful where you take it. It must be at a garage or a repair shop that you can trust to take good care of the car. Similarly, you need to be careful when you wash the car. A classic car should never be taken to an automatic car wash. Instead, it should be washed carefully by hand. Believe it or not, car washes have been known to damage cars and that’s the last thing you want.
If you do damage the car, you must be careful. You should not necessarily alert the insurance company if you can avoid it. As we already said, this will leave a permanent record of the incident. Obviously, if the incident involved another driver, you’ll need to. But if not you can get it repaired without leaving a record. This is the best option to take as it means you can make a future sale without telling the new buyer.
Our final tip is to take these maintenance steps even if you haven’t bought a classic car. Don’t forget that a classic car can become one after it has been purchased. That’s why you should always look after your cars.