News
First Time Classic Car Buyer
Author: Lancaster Insurance Services - 28/09/2011
Do you have a driving ambition to make all your childhood hopes and dreams come true by purchasing the ultimate classic car you’ve always wanted?
Your dream machine is likely to be a car which you could never quite afford back in the day but that you always hoped one day you might own.
The first thing to consider when buying your classic car is whether you want it fully restored and ready to drive, or whether you want to take on the challenge and restore the vehicle yourself.
The decision to extensively restore a classic car is not an easy one. You must consider your own personal capabilities, the ease of obtaining replacement parts and the cost, labour costs for essential maintenance and also that of storage if you do not have anywhere to keep the vehicle whilst it is under restoration.
Vehicles can be found for sale in a variety of places. Good places to try are specialist magazines, internet trading sites, private sellers, auctions, motor dealers, retention yards and local newspapers.
Almost every type of classic car will have its own enthusiast community which is typically called a classic car owners club. Members share their enthusiasm and enjoyment of their particular car with other owners. These clubs are set up with the aim of providing their members with a great number of benefits. They typically offer discounts off replacement parts and may also provide workshop facilities for maintenance repairs by qualified engineers. They organise various events which enable you to meet other like minded enthusiasts, such as shows, road runs, rallies, picnics, circuit races, tours, restoration shows and road trips abroad.
To keep costs down bear in mind that cars manufactured before 1973 are tax exempt. When it comes to insuring your prized possession make sure you do not undervalue it. Specialist classic car insurance companies such as Lancaster Insurance, offer an ‘Agreed Valuation’ facility which means that in the event of a total loss claim you will be paid a pre-agreed amount.
Classic car insurance premiums are normally cheaper than those for your modern car because your car is generally better maintained and driven fewer miles (resulting in fewer claims).
So if you have ever contemplated buying a truly desirable classic car what are you waiting for? Without people like you who have the inspiration, drive and determination the Classic Cars of today will be something of the past for the youngsters of today!
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