Who does not love to see a vintage car drive past you like in a vintage car rally? In such instances, it is obvious to crave one of these beautiful innovative models but something has always stopped you. “How do I get to know the right price for a vintage car?” Well, we are here to answer that exact question so that you can fulfill your lifelong dream of having a beautiful and pristine car that has quite the story to tell.
To begin with, it is important at first, to know what the classification “vintage” actually means. While there are variations as to the duration of manufacturing years, most dealers, buyers, and aficionados prefer the car to be manufactured before 1925-30. Be aware of people trying to sell cars post- 1930 manufacturing dates as vintage! They belong to the classic or antique category and are not considered vintage by many hobbyists. the classification of who considers which manufacturing era present-day vintage cars is, however, debatable. After all, who wouldn’t consider the famous Austin, not as a vintage car!
Now let us dive into the important aspects you should be looking out for to evaluate a vintage car’s right price.
This is pretty simple to understand. The more demand a vintage car model has, the more its price as a collectible and the more prestige it carries with it. You can determine the demand by checking collectible car magazines that talk about the specific history and novelty of such cars.
The more rare the car, the more difficult it is to procure and thus higher the price. If the car had a limited production back in its day, the harder it is to find one in the market. Keep in mind that rare cars also have rare parts that are difficult to get by on your own. Make sure you know how to procure the parts if you are thinking of a rare vintage model for yourself.
Unlike classic cars or their contemporary counterparts, vintage cars having restoration work done does not decrease their price. However, while buying such cars, you have to keep in mind the type of restoration that has taken place. Cars are restored as closely as possible to the original including its parts and even the minute details such as door handles and paint used, all factors in the restoration that determines its price point. However, if a vintage car has been remodeled in some technical way, its price point will be considerably lower than its restored counterpart.
4. The level of restoration
When you go to buy the car, it is important to keep in mind the extent of its restoration. If it’s just the shell that has been restored, the price point will be lower than if the car has been restored right down to its exhaust. Make sure you are aware and have visible proof of the restorative work done on the car, before making payment. Also, think about if a restoration for certain parts is necessary for you at the time of buying. If you can restore some of the parts on your own or from your trusted mechanic, then you can go for cars that have relatively low restoration levels, thus making your pockets a bit more full at the end of the day.
5. Project price
If you are considering doing some restorative projects on your vintage car then you should consider the price point along with it too. Do some research as to how much money you are thinking of spending to do your own restoration and compare it to the price of the car. If the car has a higher price point, as does your restorative overhead, then it is difficult to go all-in for the car. This is why you should make sure that you have some financial backing in the form of insurance. Yes, you can insure your vintage car too! And what’s more helpful is that these insurances generally focus a lot more on repair and restoration than they do on your normal car insurances! So if you really like vintage but also have in mind some restorative projects, look no further than these insurances.
6. Original Popularity
A popular car back in the day will have a higher price point as a vintage car now. If all of these above points check out to ensure that it is in working condition, then you should consider going for a car of such popularity that has inspired generations of car enthusiasts and the owners of the same. This one’s emotional! There are some cars that bring people together unlike any other car of their time and people form an emotional bond with them. The car’s legacy itself makes for a compelling rate and if you want to feel what people felt all those years ago riding on a Standard 10, then we suggest you go for it!
7. Maintenance record
Do not be fooled by dealers who claim that they have done authentic work on the car before selling it to you! Always demand to see proof in the form of verifiable maintenance records and the places that the car has been restored from, down to every screw, to better assess if the dealers are honest about the price they are asking. Hey! We never said this was easy but you’ll thank us when you buy your dream vintage car based on our tips.
Conclusion- Dealer VS Owner Dilemma
This is a dilemma for many enthusiasts and there are heated disagreements on this topic: whether one should buy from a dealer or whether one should buy from the owner. It goes without saying that the owner selling their car, which they have cared for generations as a part of their family heirloom will not only have complete credibility but will also be driven to ask for a justified price even if it is on the higher end. Moreover, owners also have excellent rapports with fellow vintage car owners, vintage car mechanics, and part sellers and may introduce you to them if you ask for it, making the handover much easier for you. So that is a hidden perk! However, owners are few and the owners who would want to sell are fewer and if you do not want to wait any longer then a dealer is your best option. Make sure fellow vintage car owners know the specific dealer and someone who is a reputed person in the vintage car community and steer clear of people without a credible background!