Last updated on November 20, 2019 at 11:01 am
Owning a classic car can be a learning experience: any repairs will need to be meticulously handled, it will need to be constantly maintained and insurance doesn’t work exactly the same way as your personal vehicle. Here are some tips for buying a classic car and protecting your new beauty:
- Know what you’re buying. Even if you’re prepared to dedicate a significant amount of elbow grease and TLC, you’ll want to avoid any surprises down the road. Do a thorough inspection before handing over the cash. Check for rust, panel alignment, uneven tire wear, moisture in and construction of the floorboards, and any cracks in glass. Be thorough—take a look under the floor mat in the trunk. Take it for a spin and pay close attention to the sounds and behavior of the car. It can be tempting to ignore red flags under the excitement of owning an attractive classic, so you may want to bring an impartial friend along for the inspection.
- Choose the right method of delivery. If your new classic can’t make it home under its own power, you’ll need to transport it. Shop around for the best deal and consider covered transportation if the trip will be a long one. If you will be driving the car, long-distance, be prepared to make repairs along the way. Consider packing:
- a gallon of gas
- a fuel pump
- a gallon of water
- a 12v tire pump
- a battery
- two quarts of oil
- rotors, caps, and points
- a complete toolkit
- Protect your investment. Classic car insurance offers the essentials that come with most auto insurance policies, with additional coverage available for lost/stolen spare parts or accessories and towing coverage. Classic car insurance usually comes with an “agreed value.” That means you and your insurer come to a mutual understanding about what the car is worth. Generally speaking, if you should, unfortunately, sustain a total loss of the car, this would be the amount your insurer pays out, less any deductible. You should also know that many classic car insurance policies have mileage restrictions. It’s definitely worth finding a local insurance agent or talking to an insurance professional to help you navigate the ins and outs of classic car insurance.
If you are an experienced classic car owner, we want to hear about your experience. Do you have any additional tips? Any lasting memories from the first trip in your classic?
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