The time has come: you are going to buy a classic carIt is a special moment, because buying a classic car is different from purchasing a regular car. There is more involved: from the search to insurance, from maintenance to the availability of parts. In this guide, we take you step by step through everything you need to know before making the decision.
- Boyhood dream or investment?
- the search
- buying a classic car
- insurance and tax
- maintenance
- availability of parts
- check the valuation
- state of maintenance
- budget
For my first classic, I had set my sights on a Maserati Biturbo Spider ZagatoOf course, I immediately had advice and stories hurled at me: “Don’t do it, it’ll drain you,” “Maserati is beautiful but unreliable,” “Maserati, it’ll break down,” and more of that sort of thing. But people who want a classic understand very well that this does not diminish the desire in any way. However, it is good to ensure that you make a well-considered decision, and that can be quite difficult when emotions play a role.
Buying a classic car: boyhood dream or investment?
It is always good to consider for yourself why you want to purchase a classic car. Is it a childhood dream and do you just want to enjoy cruising in it? Do you view it more as an investment that will mainly sit in the garage and only hit the road on special occasions? Or perhaps you want to buy a classic car to use as your daily transport? These are all fine reasons, but the goal requires a different approach during your search.
A classic car as an investment is becoming increasingly interesting. Well-maintained classics from popular brands such as Porsche, Ferrari, and Mercedes-Benz have risen significantly in value in recent years. But less obvious models can also be a surprisingly good investment — provided you know what to look for.
Search specifically or no idea yet?
When you already know which make and model you want to buy, the search becomes much more focused. It may also be that you don't really have an idea yet, or that you don't get any further than that it has to be a convertible, an Italian car, a green one, or a reliable one. It is important during your search that you are not in a rush. I know from personal experience that this can be quite difficult — when you are happily browsing, all those beautiful cars scream "buy me!", they seem like those sweet little dogs in an animal shelter looking at you pleadingly.
You can search at the specialists who have their own page within Klassiekerweb. And then there is also our forum where members can offer classic cars for free. You might come across your dream car there, or you can ask such a specialist to help you with your purchase.
When searching for a classic car, these are the best sources:
- Specialized classic car dealers and restorers
- Club magazines and club websites of brand clubs
- Online marketplaces such as Marktplaats, Autoscout24 and Classic Trader
- The Klassiekerweb forum
- Auctions by renowned houses such as Bonhams and RM Sotheby's
- Classic car fairs such as events in our calendar
Buying a classic car: what to look out for?
Always make sure to bring someone along who knows what they are talking about if you don't have any expertise yourself. A classic car can have hidden defects, so it is helpful to have an expert with you. Two people see more than one, and often different things. Furthermore, agree on a division of roles—it is a nice bonus if the person accompanying you can rein you in during an impulse purchase. Cars stir emotions, and the seller knows this very well.
Take your time. A seemingly strange tip that works well: if you have a specific model in mind and have the opportunity to take it for a test drive, walk over the car as if you were washing it by hand. You will be surprised at the details you suddenly discover when you look at the car up close.
Furthermore, these are the most important points to consider when purchasing:
- Rust — the greatest enemy of every classic. Check the sills, wheel arches, floor panels, and trunk/hood for rust or rust repairs.
- Bodywork — pay attention to uneven spraying, color differences, and irregular seams that may indicate damage repairs.
- Engine and technology — let the engine start when cold, listen for strange noises, and look for blue or black exhaust fumes.
- Maintenance history — a known history says a lot about how the previous owner treated the car.
- Vehicle registration certificate and papers — check if the chassis number matches the papers.
Insurance and tax for classic cars
In addition to the purchase price, you will also have to deal with other costs. That is not a problem at all, but it is something to keep in mind.
Road tax
If it is a true classic, road tax is not a problem. To be fully exempt from motor vehicle tax, your classic car must be 40 years or older, calculated from the date of first registration. A transitional arrangement applies to cars registered between January 1, 1974, and January 1, 1988. You can read exactly how this is regulated here. here.
Insurance
De insurance It varies per classic car. There are a number of companies in the Netherlands specialized in insuring classic cars. In addition to the type of classic car, factors such as how much you drive it, where it is stored, and how it is secured are also taken into account. Specialized classic car insurance is often cheaper than standard car insurance and offers better coverage for the actual value of your classic car.
Maintenance of a classic car
For some, maintenance is a necessary evil. For others, it is one of the most enjoyable perks of owning a classic. This has everything to do with how handy you are and to what extent you are willing to delve into your car.
Doing it yourself is cheaper because it saves on labor. You can also check a lot of things yourself for an MOT. You can find an extensive checklist here.
There are also plenty of specialists who can help you — professional garages, but also hobbyists you come across on forums and at clubs. These people often possess a wealth of knowledge, and enthusiasts of the same makes and models are happy to help each other. In any case, make sure you have a fund for unexpected repairs and that you have good storage.
Availability of parts
An important but often underestimated point when buying a classic car is the availability of parts. If you buy a rare classic, chances are that the parts will also have rare prices — simply because there is limited stock. With a mass-produced classic, there are usually still enough parts available, which keeps prices lower.
Find out in advance if there is an active brand club for your model. Brand clubs are often an excellent source for parts, technical knowledge, and specialized mechanics. There are also an increasing number of companies that reproduce parts for popular classics.
Buying a classic car: check the valuation
There can be various reasons why you might want to have your classic car appraised. One of the most common is that you need an appraisal to take out third-party liability, limited comprehensive, or all-risk classic car insurance. During the validity of the appraisal report, usually three years, the insurance company pays out the appraised value in the event of theft or total loss.
Another reason for a valuation can be the purchase or sale of a vehicle. This allows the buyer or seller to know whether the price is in line with what is being offered and what potential defects exist. Please note: the valuation is by no means always equal to the selling price. This depends, among other things, on the type of classic car and market conditions at the time of purchase or sale.
Condition
There is usually a correlation between the purchase price and the maintenance that follows shortly after purchase. Keep in mind that in 99 out of 100 cases, the history of your dream classic is simply impossible to trace. Although sellers often want you to believe otherwise, proof of first owners and low mileage is very rare. Based solely on the age of a classic, it is highly unlikely that a car has had no more than one owner.
When assessing the state of maintenance, you can broadly distinguish three categories:
- Competition condition — fully restored and in perfect condition. High purchase price, but low direct costs.
- Driving classic — well-maintained and fully roadworthy, but not perfect. The best value for money for most buyers.
- Restoration project — cheap to purchase but expensive to repair. Only recommended if you have the skills and budget for a restoration.
Buying a classic car? Put together a realistic budget.
When making the purchase, let yourself be guided by what you consider a reasonable amount, and weigh that in terms of purchase price, regular maintenance, and all restoration costs that will be necessary. Do not be too optimistic, because you will always encounter surprises.
A handy overview of the cost items:
- Purchase price — the price of the car itself
- Immediate repairs — what needs to be done immediately after purchase?
- Regular maintenance — services, MOT, tyres, brakes
- Insurance — classic car insurance including any storage insurance
- Storage — rent a garage or storage unit if you do not have your own space
- Unexpected costs — always maintain a buffer of at least 20-30% of the purchase price
Get informed by people who own the same classic and ask for their own experiences. Club events and forums are perfect for this. Also, look at photo albums of restoration projects, which often contain a wealth of information. Multiply your budget by a factor of 1,5 to 2,0 for circumstances you haven't thought of yet, and you will usually be reasonably safe.
