Tips for Buying Classic Cars at Auctions (Part 1)

Posted by Steve White on Nov 23, 2012

Classic car auctions offer you an opportunity to purchase wonderful classic cars at great prices. However, you need to be careful, or you may end up spending a lot more money than you had planned. Here are some tips that can help you buy the car of your dreams at the right price:

1) Know What You Want

Before you go to an auction, it is essential that you know what kind of car you want to buy. If you are unsure, you should at least set a budget to ensure that you will not spend beyond your means.

2) Learn About the Values of Cars

You can find out the market values of old cars by checking out online resources such as Edmunds and Kelly Blue Book. If you have the time, it is also worthwhile to check local prices in classified ads or Craigslist, as well as past auction results.

3) Inspect the Car before Bidding

Some classic cars need to be repaired or restored before they can be driven, and they may eventually cost substantially more than their selling prices. Before you bid on a certain car, inspect it thoroughly first to find out how much you need to spend on repairs. Some telltale signs that a car needs repairs include unsmooth sheet metal, paint overspray, uneven stance, puddles underneath, scored brake discs, and others.

 

 

Comments

  1. Ian Lomax

    I definitely agree you need an inspection, preferably by someone who has experience with the type of car you want to buy. And if you can’t be there yourself, make sure you hire someone to inspect it for you.

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