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Few purchases can be more rewarding than an antique car, but the buying process can be quite different than what you’d experience at a new car dealer. Whether you’re hoping to fix and restore an old vehicle for profit or are buying one of your “dream” collector cars, understanding some of the unique elements of these purchases will help you make a smart investment.

What You Need to Consider When Buying an Antique Car

1. Budget Accordingly

The market for antique cars is volatile; what sells for a high value today may not be so highly prized next week. As such, you should carefully consider the type of car you want and how you will use it before you start shopping. This will help you establish a budget for both the vehicle and any upgrades that will be required. Research values online, so you can find a fair price for the car you want.

2. Conduct a Thorough Inspection

antique carsWhile vehicles in need of restoration work are never in perfect condition, you should never purchase a car that has rust damage; rust can prove extremely difficult and expensive to repair. Interior damage is also sometimes not worth repairing. Buyers should also check the vehicle identification number on various parts of the car to ensure all components are original.

3. Add Insurance

Adequate protection for your restored vehicle often requires special coverage. Antique car insurance is typically available for vehicles older than 25 years or unique historical models that are at least 10 years old. To qualify for this special form of insurance, the vehicle must be properly restored or preserved. In addition, if you plan to use the car for everyday driving, you likely won’t qualify.

 

When you know what to expect, buying an antique car can be an exciting and rewarding adventure. At the Charlotte AutoFair in Mecklenburg County, NC, you’ll have the opportunity to view thousands of collector vehicles from enthusiasts and sellers from across the Southeast. To learn more about this exciting biannual vintage auto show or reserve a vendor lot, visit them online or call (704) 841-1990.

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