Buying a vintage or a classic car is super exciting; however, if you are buying the car for the first time, there are some key considerations you must take into account before the purchase. You should ensure the car you are about to buy has been preserved well by its previous owners. So, never purchase a car without connecting the dots, or else you will regret your decision later.
Eugene Bernshtam – How should beginners buy a vintage car?
Eugene Bernshtam is a finance graduate from the Loyola Business School in the USA. He started his career early, straight after college, where he worked for an investment banking firm. Later, he worked with many multinational companies and today heads the commercial real estate development company called Avalon Holdings LLC with its affiliated entities. He is also the recipient of both series 7 and 63 certifications for selling investment securities.
He is actively engaged in auto restoration and is a licensed auto dealer under the Illinois Secretary of State. He is a member of the Ferrari Club of America (FCA) and the Lamborghini Club of America. He is a consummate professional and likes to work six to seven days a week. He is fond of creating, which has led him to pursue a career in property development. Besides the above, he loves traveling, scuba diving, collecting cars, and weight lifting.
Key points to look out for before you buy your vintage car
According to him, never purchase anything in haste when you have decided to buy a vintage or classic car. Here are some key factors you should consider before bringing the car home-
- Never buy cars that are severely rusted- If you see the car having signs of rust, the problem will increase in the future. If you see the past the trunk or the sides of the car because they have been consumed by rust, it is prudent to walk away from that car as it will later eat up your bank balance as well.
- The color counts- Do you know the color of the car can increase the value of your car, especially if the paint is rare and original with an accompanying factory-correct interior hue? Look out for such car models if you are keen to bring home a vintage car.
- Do not buy the car if you will not drive it- Know why you want to buy the car- will it be for driving, reselling, or do you merely wish to preserve it and add it to your car collection? This perspective will largely help you to save a lot of money in the long run.
Last but not least, Eugene Bernshtam recommends that low mileage means more value for money. In short, you will never go wrong with the purchase of such a car! So, check the miles on the car’s speedometer as you will get more value from that vehicle.