Article Vault A - Z (Classic Cars)



How To Buy A Classic Car

Many people dream of owning a classic car and fantasize of nipping out for a picnic in summer in a vintage Morris Minor, or ripping down country lanes in a vintage E-type Jag. But how easy is it to buy your first classic car? Sureterm Direct has helped thousands of customers insure their first classic and here's their guide on how to approach making your first purchase.

What to look for
Buying a classic car is fairly straightforward, but you do need to take care in deciding exactly what type of vehicle best fits your needs. It's no good buying a classic MGB if you want to use the vehicle for family outings (with kids and dogs) to the beach. Equally, a Ford Cortina 1600E might tick all the practicality boxes if you're a singe bloke - but does it have the same effect on your street cred as a gleaming MK2 Jaguar? Probably not. Key practical considerations therefore need to be: Number of seats, number of doors, hard-top of soft-top, boot space - and even image!

Where to store it
How you store the car is also a major factor. Unfortunately, most 'old' cars simply don't stand up to the weather like new ones, so you'll need to keep your new classic in a garage or lock-up to maintain its appearance. If, like most people, your garage is rammed with anything BUT a car you’ll either need to clear it out or factor in the cost of renting a lock-up in your budget.

If the car needs some work doing on it, you’ll need space to move around the vehicle (especially under it). And if you’re thinking of keeping it outside, covered with a tarpaulin, think again! Damp rises, putting your car at risk – and how will you fancy doing your vital maintenance work in the pouring rain or driving snow?

Condition
The condition of you chosen classic car is a major consideration. If you have a background in engineering, welding or metalwork, a rusting old heap will hold no fear for you. Classic car magazines are full of adverts for a huge array of potential classic vehicles, and this should be your prime hunting ground. The key is to be realistic about what you can take on. A full restoration project is one thing – but it might be much more sensible to take on a project that’s been part completed, and just needs a few spares to get it back on the road.

Equally, you may find a ‘bargain’ for just a few hundred quid, that may well be worth £15k when complete. But spending hours trying to find irreplaceable body parts, or having to outsource specialist elements of the rebuilding project to experts, will soon make you wonder whether it was all worthwhile.

A sensible option when buying your first classic car is to spend a little more, but go for something that is presentable even if it takes a little longer to find the car of your dreams.

Where to find Classic Cars
The internet has made it easier then ever before to track down a classic car. Previously, buyers had to scour shop windows for likely purchases or buy specialist magazines, but now simply typing ‘Daimler Sovereign’ or ‘Austin Healey ‘ into Google is likely to bring up results. You’ll find specialist dealer sites, individuals using auction sites like e-bay, even portals aggregating all the classic car websites in one location.

Magazines are still useful, as they often provide added information by way of features about restoration. While the internet is great for finding vehicles quickly, printed media usually go into much more depth about the joys and pitfalls of classic car ownership.

Preparation before plunging
Having found a few potential purchases, now you need to do some homework to make sure you don’t end up with ‘a lemon’. While you’ll have some comeback if you buy from a dealer, classic cars are unlikely to be sold with a warranty and if you’re buying from a private individual you’ll have even less rights.

This is why you need to have a series of key questions to ask on the phone, or by email, with the seller to make sure you build up an accurate history of the car.

For example: Why are you selling the car? How long have you owned it? How often is it used? Does it come with any spares? Do you have any receipts for MOT's or work that’s been done? Where has the work been done? How easy is it to find spare parts and can you recommend any local suppliers? You might want to know if the car runs on unleaded fuel, or if it can be easily converted, as leaded petrol is expensive and has limited availability in the UK.

Viewing
If you’ve progressed to a viewing, choose a time to see it during daylight. Avoid seeing it in the rain too, even the worst classic car has a certain appeal when it’s sat in the half light with the rain bouncing off it.
And think about taking along an expert. You could enlist the paid services of an AA or RAC inspector, but using internet forums you can usually find a classic car club member close to you who’d be delighted to give you the benefit of their experience (often for the price of a pint of real ale!).
Other MUST DO’s on your viewing:
• Look underneath.
• Check for signs of sagging, which might indicate suspension or chassis problems.
• See if the tires match.
Look for signs of bodywork repairs, especially paint retouches (black and metallic colours are very difficult to match).
• Check the body all over for rust and rot, or cracking in the example of fiberglass-bodied cars, like Lotus.
• Lift up the carpets if you can, checking the floor pan and joint to the inner sill.
• Start from cold.
• Go for a test drive – look and listen for knocks, grinding, and smoke which may indicate oil escaping and burning.
• Look out for a soft or lazy clutch and check to see whether the car has a tendency to pull to the left or right.

Hopefully, this list of simple Do’s and Don’ts will help you take the first steps to buying a classic car. Trying to cover everything would take all day, but the key things to remember are: Take time to consider what’s best; Don’t be afraid to ask for advice; Ask plenty of questions; And be thorough with your inspection.

Follow those rules and your first foray into classic car ownership should be a joy, not a disaster.


Classic Car Insurance Quote

Some people think of classic cars as the transport of eccentrics and TV detectives. Others consider them to be glamorous, expensive, and high maintenance status symbols. But the reality is that many classic cars simply do not fit these stereotypes. A classic car is easy to rave about but incredibly hard to define. Who is to say that a cherished Austin A40 in a supermarket car park is less of a ‘Classic Car’ than a Mark II Jaguar at Ascot? And that’s where you need to know what is and isn’t classic – it will make a huge difference to your car insurance premium.

Top tips for getting the best deal

• It is widely reported in the motoring press that classic car insurance is far cheaper than a modern car policy but it is important to be vigilant and well informed.

• The condition and scarcity of a classic can vary dramatically, and an owner’s perception as to the value of his beloved car can often be at odds with his insurer’s valuation in the event of a claim.

• Search for a specialist insurer, they are more likely to provide specialist assistance and provide a better rate.

• It is vital that you take out a guaranteed agreed valuation when insuring your classic car.

A genuine agreed valuation is the value guaranteed by the insurer should the car be written off or stolen. Make sure you check that your valuation is ‘guaranteed’, as some insurers have refused to pay out the full amount, despite the owner believing that they were fully covered.

Insurers may or may not make a small charge for an agreed valuation but it can be a false economy to omit it from your policy if the pay-out on your claim turns out to be hundreds or even thousands less than you thought. So, if you are surprised to learn that insurers consider your beloved 1970’s Datsun Cherry a classic, make sure you take care when choosing your car insurance policy!

A car as special as yours deserves a special kind of insurance policy. That's where Peter Best Insurance can help. With over 21 years experience in arranging specialist insurance of classic cars, they are well placed to provide you with classic car insurance quote and guidance in selecting the best policy for your car.

Peter Best Insurance Services Ltd is a specialist insurance broker with over 21 years experience in the collectible cars, motorbikes and commercial vehicles markets. The business operates out of two offices in Essex - Maldon is the main office dedicated to classic cars including MGs, Morgan's, 4x4s etc (01621 840400), while Kelvedon has certain car schemes for Mercedes Benz, Volvo, Saab, BMW, for example and classic motorcycles. (01376 573033). Collectible commercial vehicles are also catered for here together with kit cars.

With their interest in the classic market, they have also forged strong connections with many of the car clubs such as the Mercedes Benz Club and the MG Car Club. This enables them to offer discounted premiums to existing club members, providing they can supply their proof of membership.

They have a portfolio of insurers who have created a selection of policies specifically designed with the classic enthusiast in mind. These will offer the best levels of cover at a competitive price.


Classic Car Loans

Are you an enthusiast for cars that once ruled roads and are now popular as classic car? Do you want to own one such car and live your dream of driving or simply have a collection of these cars? Well, it requires huge money as these classic car come at a price that may not be affordable though your pocket. However you can own these cars through classic car loans.

Any regular auto loan provider will not give you a loan for buying a classic car. You shall have to search for an especially designed loan for classic car. Such lenders can be located on internet in plenty. Classic car loans are especial loans for buying old classic car of last one hundred years. But you should be well verse in the loan before you apply for it.

First of all you should note that classic car loans depends on good health of the car. A lender will not give you loan if the classic car is not in good condition. This is because the loan amount is approved against the very classic car you are buying. For cutting risks, the lender wants to ensure that the car is in a fine condition and will recover the loan in case of a payment default. Classic car loans usually carry higher interest rate. But on comparing the lenders, a loan with competitive rate is possible.

Also note that usually classic car loans are provided to good credit history people as huge amount is at stake. However there are lenders who provide classic car loans to bad credit people as well on certain condition. Your repaying capacity should be excellent, for instance. So check your credit report for any inaccuracies and know your credit score before applying for the loan. Make efforts to improve credit score and then apply for the loan.

You are also required to make 10 to 20 percent as down payment. So be prepared for the down payment. Ensure that you have made an extensive comparison of different classic car loans lenders for individual interest rates and other


How To Restore A Classic Car

Restoring a classic car can be tricky business especially if you have never done it before. You have lots to think about from where you can get the parts from to how it's going to affect your classic car insurance.

The first thing to do when restoring your car is to make sure that you have enough room to do this. The best place for this is usually a garage because you are out the way, not taking up valuable space in the house and not making a mess of the house. To save space you can store parts like the engine, gear - box, doors and bonnet in a basement or shed while you are working on the car.

You need to be prepared that some aspects of restoring your classic car are going to be more involved that what you anticipate. For example, you may not be able to find the parts you need, get matching colors to existing parts and getting classic car insurance may take longer than you think. The reason why this can be difficult is because if you want to increase the value of your classic car then it is better to use as much original equipment as you can. If you are not sure about some of the work then it is best to go to a professional as it will save time and money in the long run.

Once people have restored their classic cars they tend to either sell them on or keep them for personal use. If you are keeping it for yourself then all you need to do is find somewhere safe to store it and get classic car insurance. However, if you are planning on selling it there a few tips which can help you get more money for your car.

Basic tips for attracting people to your car are to ensure its sparkling clean and change the oil. Another great tip is to service the car. This is because there is a lot to organize with a new car such as classic car insurance so if it doesn't need servicing straight away then people will be more inclined to purchase the car.

Choose where you are going to advertise you car carefully in order to ensure that you get the maximum offer for your car. People who are devoted to classic cars are more likely to pay more money so it's important to target them. A good place to start is classic car magazines as you wouldn't buy these publications if you weren't interested in cars. This is also helpful to people as they can find a car, parts for it and classic car insurance all in one place.

Taking your car to a car show or museum is bound to get it noticed if you are trying to sell it. Placing it near the venue's entrance or exit is ideal as people are bound to see it. Restoring a classic car is great fun for car fanatics regardless of whether you are keeping it or selling it on. However, follow these tips and make sure you are careful so you don't cause any damage to your pride and joy.