Buy, Restore and Sell a Vintage Car

Vintage cars have always held the interest of many people. That interest consists of, for most of us, reading about and going to car shows in order to satisfy that interest. Others buy that old car and participate in car club events. Still others restore these classics of the open road. Okay, you may ask, where do I start to buy, restore and sell a vintage car?

Steps

  1. Establish a budget for the project car before you ever start the search for the vintage vehicle. You can easily let the price of the vehicle get out of control and become a financial disaster for you without knowing what you can realistically spend.
    • Decide how much to allow for the base purchase, restoration process and the final cost of the project. This is the time to be brutally honest with yourself and not let your love for the vehicle get out of control. There are realities of the market to consider.
  2. Find the project car you want to take on. You will most likely find your vintage car through one of several sources.
    • Classic car clubs are a likely resource. Most have a newsletter that lets members post vehicles they have for sale as well as parts from projects that they no longer need.
    • Many classic car auctions offer completed cars and there are also flea markets associated with many of them. Another great source is auctions of what are called "barn finds." These are vehicles that have been stored and will need restoration.
    • Vintage or classic car magazines and websites other great sources. Magazines like Hemmings Classics and Autotrader Classic Cars are but two of these resources. Both of these magazines have websites.
    • Buy the vintage car at a price that allows you to restore and sell the vehicle to pave the way to the next project. You need to know your market. Do your research before you buy. Time spent researching the costs will lead to a successful conclusion.
  3. Start the restoration process. This is where your research and personal knowledge comes into to play.
    • You are most likely going to part the car out to specialists in the field of auto restoration, unless you are a master mechanic and have a shop full of tools, lifts and a paint booth. You need to be honest as to your mechanical skill level. Know when and what to part out for the rebuild.
    • Establish a good relationship with the businesses that you will deal with on the car restoration. Spend some time with them and seek out past customers. This way you will see what they have to say of their experience with the business.
    • Bottom line, be an active and participating member of the restoration team. Not only will it enhance your experience, it will help keep track of the expenses. Remember, you do still have to sell the car.
  4. Find a buyer. Sold is what you are looking to hear. Not just sold, but sold for a profit. To do that, you are going to use the same process you used in buying to sell the vintage car.
    • Use classic car clubs dedicated to your make in order to sell your restored vehicle. Go to club meetings and shows. Let it be known that you have a vehicle for sale or coming up for sale. Don't forget to advertise on their websites and in newsletters.
    • Classic car shows and auto auctions are other ways of selling your car. Enter your car with its documentation on the restoration process as part of the display. Let it be known the car is for sale.
    • Don't forget, the same publications and websites you use for research and buying your vehicle can also be the methods of selling your vehicle.
    • Each step of establishing your budget, doing your research, buying at a price that fits into that budget and working with qualified auto specialists, leads to a successful buying, restoration and selling of your vintage car.



Warnings

  • Each step of the process needs to be documented. That documentation needs to include verifying a legal title.
  • A note of caution on auctions. You risk selling the car for less than your investment if you enter the car into an auction like Mecum or Barnett's and do not put a reserve price on it.

Things You'll Need

  • Vintage car magazine subscriptions
  • Membership to vintage car clubs
  • A place to store the vehicle during the different stages of restoration and for you to work on it within your skill level
  • Complete set of mechanic tools (optional)

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References