Is Your Classic Car Worth Restoring?
A car is a prized possession to many, and a good, well-kept classic car is something that will increase in value over time. Whether you've been eyeing a certain second-hand car, or you have one that's been with your family for years, a classic car restoration is definitely something you should consider.
There's just something about being behind the wheel of a car that's seen years of history that will make it hard to let go. Maybe it's the car you learned to drive in, or maybe it's your dream car when you were in high school. No matter which reason it is that makes you want to bring an old car back to its former glory, we're here to clear up things for you.
It's no secret that the restoration of a classic car is no joke on your wallet, but apart from the financial demands, there are other factors that come into play as well.
Before jumping the gun and getting too excited with your car, it's time to sit down and analyse whether or not it will be worth all the effort. It's a huge investment that can either give you a priceless car, or a huge waste of money.
Here's a list of the things you need to consider before giving that car a revamp:
Is it really a classic car or an old car?
Don't get us wrong; There's definitely no reason for you not to refresh an old car, but it's important to know the difference. You may be scammed into paying for a "classic car" when, in reality, it's just an old car in someone's garage.
If you're eyeing a classic car that simply needs some intense TLC, do your research first. Make sure that it's a rare model that will be well worth your purchase and the succeeding restoration costs. Double or even triple check that the car you go for is something that won't depreciate in value after just a few years.
- Check your insurance options.
Here's the truth that you probably already have an idea of: getting a classic car insured will likely be more expensive than insuring a new one. The premium will vary depending on the model and brand, which is why it's important to consult with your insurance provider before making a decision.
The silver lining in this is that there are usually insurance companies who specialise in old vehicles. These providers will offer you an insurance package that will equip and protect you from damages or theft that may occur to your car.
- Consider getting professional help.
One of the most iconic parts of restoring a classic car is getting your hands dirty and going elbow-deep into the whole process. However, you may end up doing more damage than good if you're not an experienced mechanic.
The extent of our mechanical skill is something that should heavily factor into your decision to get professional assistance. Take some time to scout around for the most experienced and reliable mechanic out there so that you'll be confident in the outcome.
Don't worry, this doesn't mean that you'll have no part in the whole restoration process! Quite the contrary; Apart from making the executive decisions, you can work out a plan with your mechanic for you to lend a hand in some processes!
Owning a classic car means that you get to own a piece of history right at your driveway. In spite of the hard work and financial backing it requires, choosing the right car that fits your needs and lifestyle will definitely be well worth it.