Classic cars for sale are big business these days. There is no shortage of unscrupulous people who will take your money and vanish!

To be a knowledgeable buyer, the biggest chunk of your time will be spent in what I call the homework or prep stage. Probably 70 percent of your time will be spent studying classic car sale information, researching, and consulting with trusted friends or experts as to the authenticity and details of the car. After you have done your homework, the rest is a simple buying transaction. The more prepared a buyer, the smoother and faster the transaction.

What this means is you will need to invest the necessary time and money to thoroughly research what you are buying. It is all about the preparation. The one thing that rings true is either you are going to spend the time or money to investigate your potential purchase or you hire an expert to handle the transaction for start to finish.

Three Tips to Prevent Classic Car Scams

1. Know What You Want to Purchase

The top details for clarity are knowing what you are looking for, how much you have to spend, and how far you are willing to travel. Buying a vintage classic or muscle car is an exercise in search and process of elimination. Think of yourself as a modern day Sherlock Holmes. There is no use in looking at a show car if you can realistically only afford a project car or a weekend cruiser.

Because the internet has made our world smaller, do not waste a buyer’s time if they live halfway across the country and you are only willing to buy locally.

Check the NADA price guide so you have a ballpark of what the car will cost depending on condition. If the deal is too good to be true, (Are you really going to buy a 1969 Camaro in great condition for $5000?) then it could be scam. If you contact the seller and they insist on wiring a deposit, then you will know for sure it is a scam. Guaranteed you will never see the cash again!

2. Research Your Vehicle

Buying a classic car has become serious business. Classic cars for sale are now selling for what I paid for my first house. Would you buy a house with out having a house inspection? Probably not. The same goes with buying a muscle car for sale. Do your research. Get as much information as you can about the make, model, and year, and options of the car. The more educated you are about the car, the better you can negotiate if needed. And it also indicates to the seller that you know what you are talking about.

The internet makes it easy to do research. Join a forum that is focused on the type of car you are looking to buy. I know serious car collectors who will not buy a car unless they bring in an expert or guru to look at it first. If it is good enough for them, it is probably an idea you may want to consider. There nothing wrong about not knowing everything about a car. You definitely want to avoid paying for what looks like a highly desirable car only to find out that it is a clone.

Many people have saved themselves thousands and even hundreds of thousands of dollars just by paying an expert to inspect and document a car. If the car is extremely desirable and rare, the old adage of you can pay me now, or you can pay me later applies. Either hire an expert, or talk with someone you trust who can help you look at the car. Online car forums and clubs are great resources for this type of information.

3) Make Sure All Your Questions Get Answered

Do not be afraid to ask questions. Having clarity gives you the confidence to make a buying decision. This serves many purposes. Before you physically look at the car, contact the seller and ask the important questions.

Here are a number of key questions to ask the seller even if the details are not mentioned in the ad (This can double check the seller’s credibility that they really do know the details about their car). I find asking questions in categories is useful in organizing the information.

Engine, Drive Train, Options

* What is original to the car? (Engine, transmission, differential)

* Drive train specs (hp, engine size, rear axle ratio, transmission type)

* Options – A/C PS, PB, Vinyl roof, trim packages

* How does it run?

Body and Interior

* Interior color and condition?

* Body panels original, any accidents, frame damage, paint and body panel condition?

* Currently inspected and roadworthy or project restoration car?

* Mileage and any known mechanical problems?

Title and Price

* Does the car have a “clean” title?

* What is the asking price or at least a ballpark figure

How does it look?

* Can you get detailed digital pictures? If so, get A LOT so you can see every detail.

* Send to experts or post on a forum for opinions. The seller may think the car is all original, but may not know. An expert can spot the obvious.

Logistics

* Will they allow you to bring in an expert, or independent third party to

inspect and verify the car (If not, RUN from the deal. Do not walk)?

* Is there a place locally where you could arrange to put the car up on

a lift and do a visual and physical inspection?

This may sound like a lot of work, but it is fundamental for a solid transaction where you get exactly what you want.

The best piece of advice I can offer is to remember you are in control of the

transaction. If there is something that does not feel right about the car or the seller or anything related to the transaction, let it go. This includes being pressured by a seller to make a quick decision. If a deal is going to work, it needs to be natural and a win-win situation for both parties. There is normally something fishy going on, if a seller starts to hard close a deal. There is no use in trying to force a deal to work from either party.

Your Dream Car Finder makes finding, authenticating and delivering your dream car easy!



By: Tim Leary

About the Author:

Gonzalo

Havana is a potent mixture of the old and the new. Modern office buildings punctuate the skyline alongside deteriorating Eastern European residential towers. Ancient vehicles, some with more rust than paint, share the road with newer, shinier models, while horse-drawn carts mingle with motorcycles. Flea markets display Cuba holiday mementos – wooden models of cars built in the 1950s, which are still seen on Cuban streets.

‘Yank tank’, ‘máquina’ ‘cacharro’ and ‘bartavia’ are all words used to describe the American classic cars in Cuba. It is the only place where history and circumstance have combined to enable a whole society to preserve these amazing vehicles and turn them into a national treasure.

About 150,000 classic cars existed at the time of the 1959 Cuban Revolution when the U.S. imposed a trade embargo on Cuba. After this, international trade was made very difficult, so the cars that were present at the time have been nurtured and cared for ever since.

Of the 60,000 classic cars in Cuba, about half are from the 50s, another 25 percent from the 40s and a similar number from the 30s. Brands include Chevrolet, Ford, Cadillac, Buick, Plymouth, Chrysler, Dodge, Willy’s, Oldsmobile and De Soto – vintage models of all of these can be seen on Cuba’s roads today.

Nostalgia

As a clash of cultures and ideologies, few experiences compare with that of rounding a corner in the heart of Old Havana with its crumbling baroque buildings and coming face to face with a gleaming 1955 Thunderbird that looks as if it had just been driven off the lot.

Cubans are increasingly aware of the value of classic cars, particularly when visiting Americans become nostalgic about them. They realize that there is business to be made from hiring them out, and it is therefore possible for those on holiday to Cuba to hire out a classic car for the duration of their stay. Although there are more classic cars in the US overall, an American would have to go to Cuba to see a concentration of the cars filling the streets like a snapshot of 50s USA come to life.

Cuba holiday makers feel they have stepped into a time warp to that perhaps more innocent age, when Americans sported prim and proper outfits and drove shiny, sparkly-wheeled cars in brilliant colours with fins and chrome bumpers. The cars made driving feel special. The size of them and the comfort gave a calm feeling for a time when people were able to take their time and enjoy the good things in life.

Care & Attention

While classic cars are still used for daily transportation, often as taxis, they have also become cherished heirlooms handed down from generation to generation within families, in some cases going all the way back to the 30s.

Most owners of classic cars spend hours applying waxes and polishes and basking in the praise and admiration of passers-by. Some even reminisce about a time when their cars were new, and life itself seemed brighter and as inviting as an open highway.

To own one of these vintages defines who you are, how you spend your time and how you wish to be known, and Cubans will go to incredible lengths to keep their classic cars running. 1950’s bumpers and tailpipes are recreated and myriad other parts are adapted. Steering wheels carved from wood, hub cabs made from aluminum cans and plastic sheets for windows are common. While such shortcuts would be frowned upon in the United States, classic car lovers admire the Cubans’ ingenuity and their ability to keep the cars running.

The Future for Classic Cars in Cuba

Each day these cars get closer to extinction. They are now outnumbered by boxy Russian Ladas, Volga sedans and more recent Eastern European and Japanese imports. But the biggest threats to Cuba’s classic cars are the scarcity of parts and lack of original factory literature to maintain them with uniform standards.

Hopefully they will still be preserved for years to come, even if they become increasingly temperamental with all the alterations they go through. If you’re thinking of hiring a classic car on your Cuba holiday make sure to make a ceremonial splash of rum on the car’s floorboard for good luck!



By: Emma Lelliott

About the Author:

Slade

When financing a classic car purchase, your best option is to choose a specialty lender that deals with classic cars and collector cars. You will likely find a better interest rate, longer loan terms, and go through less work than if you choose a typical lender. This article will show you how to finance a classic car purchase, and what pitfalls to look out for.

The main reason to shop around specialty car loan lenders is the less hassle you will have to go through. These lenders deal with classic and collector car loans all the time, and they can help guide you through the purchase. Standard lenders sometimes use Kelley Blue Book or NADA price guides for classic cars and that just won’t work, especially for hot rods and other customs or special editions. Having original parts and other unique options on a collector car can add value, and specialty lenders understand this. Specialty lenders can also extend the loan term, sometimes up to 12 to 15 years depending on the amount being requested. Typical auto lenders generally go up to five years.

Before you even start the loan process, you will want to check your credit score. If your FICA score is around 600 or lower, you may have a difficult time getting a loan. Anything in the 600’s and you may qualify, but you may have a higher interest rate. Anything above 700 and you should have no problems securing a loan, plus you will get the added benefit of having a lower interest rate. Any lender will require 20% down on a classic car loan, and usually 30% for a hot rod.

Most specialty lenders do not require you to have a car ready for purchase before applying for the loan. You generally have 30 to 60 days after being approved to find a car, otherwise you may need to go through the approval process again. When determining the loan amount, do not forget about hidden costs of purchasing a collector car. Odds are, especially if you are looking for a certain model, color, option, etc. that you will not find it in your area. The internet can be a great tool in helping you find the exact car you are looking for, but that car is probably in another state or region, requiring travel and transportation. You may want to travel to see the car, which will cost money, and you will need to transport it back if you do not want to drive it. Depending on how far away the car is, driving it may not be an option due to strict insurance restrictions. All this may be able to be rolled into the loan amount. Talk to your lender about these options.

Many lenders require an inspection of the car by a qualified inspector. The lender will be able to help with this, since they probably have certain inspectors they require you to use. Many buyers choose to have their car inspected before purchase anyhow, so make sure you talk to the lender before deciding on an inspection company. If the inspector you choose is not certified by your lender, you may be required to purchase another inspection, costing hundreds of dollars more.

Even if you have the money saved to buy a collector car outright, it may be in your best interest to pursue a classic car loan. Over the last 15 to 20 years, the value of collector and classic cars have gone up sharply, sometimes 10% or more a year. Considering a classic car loan is probably 6% or so, this makes borrowing the money an investment. But be careful during these economic down times and do your research. Rare and original models are still going up in value, but clones and other mid models are not rising in value as fast as they once did. This could change at anytime though.

There is no better feeling than driving around in your new classic car. Hopefully this article will help you in securing a low interest loan, and speed up the process so you can drive around town in your new ride, rather than dealing with headaches you may have by going through a typical lending company.



By: Dan Fehn

About the Author:

Devyn