How to determine the cost of a classic car

Content

Part 1 of 3. Find out the cost of a classic car online
Part 2 of 3: Rate the car
Part 3 of 3: Appreciate the Authenticity

Determining the value of a classic car will require a different process than determining the value of a typical car. This is because classic cars acquire their value based on a different set of criteria. For example, while modifying a regular car or adding new features increases its value, classic cars must be restored using original parts to gain value.

One of the reasons it's important to know the real value of a classic car is because you don't want to pay too much for a classic car that isn't worth what it's listed for, or you might be investing in collecting classic cars and you don't want to. overpay for your investment.

Without special knowledge of classic cars, you will need to follow a few steps to determine the value of the car of the class you are valuing. Follow the simple guidelines below to accurately determine the value of a classic car.

Part 1 of 3. Find out the cost of a classic car online

The first thing you should do is check the listing for the value of your classic car or the classic car you are interested in buying. This can be done online or by using the official price guide.

Step 1: Examine the car's value. Look for websites on the internet that will tell you the value of the classic car you are trying to appraise.

Considered the industry authority on classic car valuation, NADA is a great site for getting a general idea of the value of your classic car.

Select the MARK of your vehicle from the drop down menu.
Select the year of the car from the drop down menu
Enter your zip code in the Postcode field
Click Go

Image: NADA guidelines

FunctionsA: The search results should give you the price range for your classic car in the area where you live. However, remember that there are many conditions that can affect the value of your car, especially its condition.

Step 2: Read the Official Pricing Guide. Check the official price list to find out what your classic car is worth. The NADA Guidebook is a great place to start and can be found here.

The value given in the guide will help you understand what price a particular classic car was selling at that time.

Part 2 of 3: Rate the car

No two cars are the same, so simply knowing the year, make, and model of a car won't give you an accurate estimate of your classic car. Since each vehicle has been serviced differently, had spare parts, and traveled different distances, each vehicle will be in its own unique condition. Looking around the car and making notes about what you find is a great way to learn more about its condition.

Step 1. Use a rating system. Using a standardized condition scoring system can be extremely helpful in assessing the condition of a classic car.

The above is a standard list of ratings you can give a classic car after it has been inspected, based on the Chet Krause rating system adopted as the standard in the class car industry.

Image: Autocheck

Step 2: Request vehicle documents. You must request a VIN so you can look up the vehicle's history on a website such as www.edmunds.com using their VIN Check.

Check for official receipts for regular fluid maintenance, such as oil changes and parts repairs.

Step 3: Make sure the engine is running. Start the car and listen for unusual engine noise or exhaust smoke.

When you press the accelerator pedal, pay attention to whether the engine revs smoothly. Be wary of any delay or delay in throttle response.

Step 4: Take the car for a test drive. Be sure to drive it enough so that you can feel the car braking, turning, accelerating and idling. Use the turn signals and fasten your seat belts to make them work. Pay attention to the following:

Does the speedometer and odometer work?
Are there any unusual noises coming from the car?
Is the steering smooth?
Are the gear shifts smooth?
Functions: Any normal behavior of the car should alert you that the car may need repairs, which reduces its value. If you need help, you can invite a certified specialist and inspect your car before buying.

Step 5: Check the appearance of the car. You need to make sure that the appearance of the car meets your standards. Here are some things to pay special attention to:

Scratches, dents, rust, worn chrome, or obvious body repairs
Make sure all lights are working
Inspect the tires for abnormal wear and make sure they are in good condition.
Open and close the trunk to make sure it works
Maneuver mirrors
Inspect the paintwork for discoloration or paint mismatch.
Functions: Any obvious alterations or part replacements by a non-original manufacturer will diminish the value of the classic car.

Step 6: Check out the interior. It is also important to inspect the interior. You can search specifically:

Wear on seats, floors or carpets
Seat belts
Air conditioner/heater on/off
Check glove box/glove box light
Sun visors
Locks, door handles
Check your windshield wipers

Step 7: Check under the hood. Even if you are not a professional mechanic, you can find the following clues that indicate an engine problem.

Open the hood using the lever under the steering wheel that has a car icon or the word "Hood" on it. You should be looking for the following:

Oil leaks
Oil quality
Coolant leaks
Corrosion
Damaged hoses

Remove the dipstick from the engine and check the quality of the oil by the color of the oil on the dipstick. The probe usually has a curved loop that can be used to pull the probe out. If the color of the oil is anything other than golden or light brown, the problem may be with the engine.

Look for any other fluid leaking from the engine. This may indicate a damaged hose or some other problem with the engine.

After inspecting the vehicle, be sure to review your records and speak with a specialist or the owner if you have further questions about the condition of the vehicle.

Part 3 of 3: Appreciate the Authenticity

A classic car with all original parts and paint will have a high cost, while a classic car with mismatched paint or new replacement parts will cost less. Check the authenticity of the car to determine its value.

Step 1: Request Documentation. Ask the owner for any documentation proving where the car was made.

Ask about the previous owners and if there have been any renovations. If there was a repair, ask for documents confirming that original spare parts were used during the repair.

Step 2 Consider car appraisalA: You can also hire a professional car appraiser to come out and assess the authenticity and condition of the car.

It usually costs between $100 and $200, but it might be worth getting an accurate estimate.

With all this information gathered, you should have a good idea of the value of the classic car in question. Of course, for some, a classic car may have sentimental value for nostalgic reasons. The market value is determined by the condition, usability and authenticity of the car, but its emotional value can be much higher depending on the owner's attitude towards the car.

If you need help evaluating a vehicle, you can book a pre-purchase vehicle inspection with one of our professional mechanics at AvtoTachki. They will be able to give you a professional opinion on the quality and condition of any car and help you determine if there are any issues with the car that are not immediately apparent.