Part 2 of 2 – Shopping for a Classic Car
Get What You Want!
Do not buy a car that is not what you want! It is always a good idea before attending the auction to make sure you have a clear idea of what you want and how much you want to spend. If you are not exactly sure on the type of car model that you want, then at least set yourself a budget and make sure you stick to it within about 5 to 10%. This way you won’t overspend or go off track during the bidding excitement.
Do your homework! Check several sources to value a car you like. It is easy to check on the internet and compare prices and conditions. Sometimes you may find your dream car without having to go to an auction. Also, if you have an exact model in mind, make sure you have completed your research to get an idea of how much maintenance costs are going to be. This will help you get a better understanding of how much you can afford for the actual car on top of any maintenance costs it might have. It’s no good getting a car, that you think is a great bargain and then later discovering it is going to cost you extortionate amounts in maintenance costs.
Ask Questions and Understand All the Cost
All classic car auctions tend to be different so make sure that you ask questions about the auction before going. Read the agreement before you start bidding so you know exactly what you are going to be paying for, so you can get the best deal possible. The most important thing to ask is if they are going to title the car or if it’s your responsibility. Some cars may require a smog certificate to transfer title. A car that requires a smog certificate that does not pass smog can be difficult to register.
Furthermore, it’s worth researching past sales and looking at the prices that have been paid at recent auctions as this will allow you to get a better idea of what you can afford and can therefore help you budget appropriately.