Buying Your First Classic Car: A Practical Checklist

Owning a classic car is a dream for many Americans, whether it's the car you had in high school or one you always wanted. It's a fun hobby, but buying the wrong car can turn into an expensive project. This checklist will help you buy with confidence.

1. Decide what kind of ownership you want

• Driver: a solid, reliable car you can enjoy on weekends, with some cosmetic flaws.
• Show car: a highly restored or original car for car shows, which costs significantly more.
• Project: a car that needs work. It's cheaper to buy but can cost more in the end than buying a finished car.

Restoration costs often exceed what the finished car is worth. If you want to drive rather than wrench, buying the best car you can afford is usually cheaper in the long run.

2. Research the model

Join owner forums and clubs for the model you want. Enthusiasts know the common weak spots, which parts are hard to find and what makes a particular version more valuable.

3. Inspect for rust, the number one enemy

Check floor pans, trunk floors, rocker panels, wheel wells, lower fenders, door bottoms and the frame. Bring a magnet. If it doesn't stick to a body panel, there may be body filler hiding damage. Bubbling paint often means rust underneath.

4. Check the mechanicals

• Start the engine cold and look for smoke, knocking or hard starting.
• Check for leaks under the car.
• Test-drive it: brakes, steering play, transmission shifting and suspension noises.
• Make sure gauges, lights and wipers work.

5. Verify paperwork and originality

Confirm the title matches the VIN on the car, and that the seller has the right to sell it. For collectible models, "numbers matching" (original engine and transmission) and documentation such as build sheets, window stickers and service records can significantly affect value.

6. Get a pre-purchase inspection

Hire a mechanic or appraiser who specializes in classic cars to inspect the car before you buy, especially for expensive cars or online purchases. It's money well spent.

7. Insure it properly

Specialty classic car insurers often offer agreed value coverage, meaning you and the insurer agree on the car's value up front, which is often more affordable than a standard policy. These policies typically have requirements such as limited annual mileage, secure storage and having another vehicle for daily driving.

8. Plan for storage and maintenance

Classic cars do best in a dry garage. Budget for regular maintenance, fluid changes, a battery maintainer and a car cover. Drive the car regularly. Cars that sit for long periods develop problems.