The economic downturn has done wonders for classic car sales. Some models have risen in value to such an extent, that they’ve been a better investment than property, shares and even gold. However, if you’re the sort of person that thinks a classic car should be driven, not stored away as an investment, then think carefully before you embark upon a new and potentially expensive hobby.
It’s Not A Route To Cheap Motoring
Let’s get this out of the way first: Yes, if you’re handy with the spanners it’s possible to spend far less on running costs than with a new vehicle, and yes, the insurance is cheap and the road tax often non-existent, but overall, classic car ownership will probably cost a good deal more in both time and money, than a new hatchback. Think of it as a hobby, not a material possession.
Have You Got The Space?
The British weather isn’t going to do your prized possession any favours after a few harsh winters, and you’ll want somewhere to work on the car too. If you don’t have a garage of your own, you’ll need to rent one. Make sure you find a suitable lock up with electricity. Many insurers won’t even consider you if you don’t have a safe garage for your car.
Go On A Course
It may seem like a chore, but if you really have decided that your new hobby is classic motoring, you’d be well advised to take a basic course in car maintenance. In the long run, you’ll save thousands of pounds in labour costs, and you’ll appreciate your vehicle more if you’ve invested time working on it yourself. You don’t have to be able to use complicated body shop equipment or a welder, just the basics to keep it roadworthy.
What Will You Use It For?
Before you start searching for your dream car, consider how practical it will be for long term use. If you have a family, you won’t get much mileage out of a two seater convertible, and the nasty weather will further cut down your outings. If you only want to use the car on weekends, that might not be a problem.
Become A Geek
If you’ve really got your heart set on a certain car, make sure you’ve done your homework. Research every possible fault and quirk that the car suffers from, as well as the price of spare parts. You’re going to need to be able to spot any dodgy modifications and flaws, as well as any rust prone areas and other defects. It’s possible to hire an inspector if you’re spending serious cash, and probably advised.
Join The Club
If you’ve definitely narrowed down your choice to a certain make and model, joining an owners club can be a hugely beneficial move. You’ll get access to a wealth of knowledge, tips on cars for sale, and often access to cheaper parts and insurance.
Enjoy The Experience
Never jump in and buy the first car you lay eyes upon. Eventually you’ll find the perfect car, it’s just a matter of time. Classic car ownership is a longterm hobby, enjoy the ride!
Wendy Lin is a successful female entrepreneur who enjoys exploring many hobbies. Her most prized part of her life would definitely be her family. She commits to bringing them along when she travels for business.