How to Buy Antique, Vintage and Classic Cars and Trucks.

Buying a collectible vehicle calls for a significant amount of research and scrutiny.
This is bound to be a big investment in time and money and you will want
to negotiate intelligently. Here are some suggestions to help:

1. The first step is to decide what make and model of vehicle you want and to learn everything there is to know about it. You might:

• - Subscribe to specialized magazines.
• - Read historical automotive books.
• - Read documents and books on specific makes and models of vehicles.
• - Join car clubs and other appropriate organizations and participate in their events.
• - Get to know the owners of vehicles similar to what you have in mind.
• - Study resources on the Internet.

2. Find what you want by referring to How To Find a Vehicle on this web site.

3. Next, decide how much the vehicle will cost and where you will get the money.

• - Ask car club members and owners for estimations.
• - Study the market via the Internet, classified ads and owners.
• - Make a list of criteria and approximate value for the vehicle in 'Excellent/Show', 'Good/Drivable' and 'Poor/Project' condition, based on your level of expertise and concerns.
• - Find some suitable vehicles, for sale or not, and discuss their value with the owners.
• - Verify your assumptions by paying a qualified appraiser for advice.
• - Find a vehicle insurance agent that specializes in older vehicles and get a cost estimate.
• - Find a vehicle escrow agent that will assure the title is clear of liens or other encumbrances and get an cost estimate.
• - If you expect to have the vehicle delivered, decide on a method, locate an appropriate, bonded transportation company, and get a estimate.
• - Find loans by searching the Internet for keywords such as 'loans for vintage cars', 'financing collectibles' and 'specialized lenders'.

4. When you find a vehicle, prepare for the first visit and initial inspection.

• - Put together a small tool kit with a flash light, tire gauge, pliers, screwdrivers, adjustable wrench and rags.
• - Hire a professional mechanic to evaluate the engine and drive train.
• - Hire a professional appraiser to evaluate the overall vehicle.
• - Print a copy of the Vehicle Inspection and Test Drive Checklist (below) and modify to fit your needs.
• - Have a digital camera ready to take lots of pictures.

5. Your goal for the first visit should be to:

• - Find out the asking price.
• - Determine how firm the price is.
• - Get a list of all previous owners.
• - Copy down everything on the manufacturer's name plate, particularly the Vehicle Registration Number.
• - Make a list of historical registries or other organizations that might be familiar with the vehicle.
• - Establish acceptable forms of payment.
• - Inspect the vehicle inside and out and test drive it using a checklist to assure thoroughness.
• - Take lots of pictures for future reference.
• - Allow your mechanic and/or appraiser to complete their inspections.

6. Go home and evaluate the information.

• - Talk to the previous owners.
• - Verify the list of organizations and historical registries.
• - Discuss concerns with members of your automobile clubs and organizations.
• - Purchase a vehicle history check to verify the Vehicle Identification Number (VIN).
• - Look up the 'Blue Book' value, using one of the many vehicle value guides.
• - Consider your checklist of physical and mechanical issues.
• - Evaluate the reports from your mechanic and appraiser.
• - Verify that the estimated value plus the estimated cost of repairs is less than the potential value, and within your budget.

7. If the initial figures make sense and you still want the vehicle:

• - Determine the 'ideal' price (true value), a 'starting' price (substantiated value) and your maximum limit.
• - Get the forms required by your state Department of Motor Vehicles.
• - Notify your title and vehicle insurance agents of the pending purchase.
• - Notify your transportation company.
• - Verify that your lender is ready to participate and arrange for an acceptable form of payment.

8. Make the deal:

• - Set up an appointment for a time when there will be no rush or interruptions.
• - Share the results of your research, inspections and appraisal with the seller.
• - Offer your 'starting' price.
• - Negotiate up to your limit.

9. Make plans for delivery:

• - Do not make full payment until all documents are signed and you are ready to take possession.
• - If you have to leave the vehicle prior to pickup, take a thorough set of digital pictures and print them for the hauler.
• - Assure that the hauler will accept the condition of the car as shown in the photographs.
• - Hold your breath until the vehicle arrives.

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