Buy a Classic Oldsmobile

Purchasing a classic Oldsmobile can fulfill a lifelong dream of owning a classic car. But if you have never brought a classic car before, the process can seem challenging. However, with just some thorough research, a trusty mechanic, and a little luck, you just might get the exact classic Oldsmobile you have been dreaming about.

Steps

Researching and Comparing Prices

1. Go online and research the Oldsmobile you are interested in. If you are seriously thinking about purchasing a classic Oldsmobile, then the best place to start is by doing a lot of research. Look online, at local used dealerships, newspapers, and personals to find the car of your dreams.
   • Don’t just stop at researching the make and model of the Oldsmobile. Be sure to research the crash test results and recalls as well. Buying an old vehicle is a large commitment, so you want to be as knowledgeable and as prepared as possible before speaking with any sellers.
   • If you know exactly what Oldsmobile model you want, then you might want to search on tailored websites like “ClassicOldsmobile,” which offers a classified section on Oldsmobile vehicles, or the website “ClassicCars” where you can input a specific year, make, model and your ZIP code to help narrow your search.
   • Tailored websites are also great to refer to once you have purchased an Oldsmobile because you can even find replacement parts for your vehicle.
   • If you find an Oldsmobile to buy on a website like Craigslist or in a regional trade publication, then just know that you might have to travel just to see the car. Purchasing locally will also allow you to save the cost of having a vehicle shipped or delivered.
2. Comparison-shop for different prices. When you are dealing with a seller, you want to make sure that you are getting the car at a reasonable price. Look at consumer reports and note different prices, so you have an idea of what the car is worth.
   • The prices can vary greatly depending on the make, model, and year of the Oldsmobile. New makes and models from the 1990s can start around $2,500, and the vintage, classic Oldsmobile can be an upwards of $90,000 or more.
3. Look at insurance for classic vehicles that are 25 years or older. For classic car insurance, the car must be at least 25 years old in order to qualify. The insurance rates in particular can vary greatly depending on the make, model, and year of the Oldsmobile. So it is important to check with your own car insurance provider to see what classic car insurance they offer and what it will cover.
   • While all insurance companies will have different qualifications for classic car insurance, there are some standard ones to look out for. Some of the qualifications include: being an experienced driver of 10 or more years with a record free of major accidents, providing proof that the car will have limited mileage placed on it and that you own another car for daily transportation, and proof that the classic car will be stored properly out of the weather. If you think that you will not be able to meet these, then make sure to ask your insurance company about alternative insurance or the premium cost that will be placed on the classic car.
   • Unlike regular car insurance that will cover the car for the duration of time you own the car, classic automobile insurance coverage can change over time. The coverage price changes with the increase or decrease in value of the car; restorations will also add or take away value to the classic car as well. So make sure to keep tabs on the value of your classic car upon purchase.
4. Look for vehicles in their original condition. Collectors ideally like to have a classic car sport its original paint and parts. The more original working parts the car has, the more valuable it will be. So if you are not in the market for buying a classic car at top dollar, then you might want to look into classic cars that underwent restorations that are either on point or similar to the original advertised condition.
5. Set a budget for yourself. While browsing for the perfect classic Oldsmobile, you may be tempted to purchase the best instead of what you can afford. Old cars can come with a lot of surprise problems, and you will need money to fix those problems. So before you even begin to make deals with a seller, set a budget for yourself and stick to it.
   • Since the market price for Oldsmobile vehicles varies greatly, there is a car for just about any budget. Some of the more sought after vintage Oldsmobile vehicles can start at $90,000 and the newer models from the 1990s start around $2,500.
6. Call the seller and get the history of the vehicle. Oldsmobile vehicles are known for being timeless and sturdy, but that does not mean that the owner or owners before you kept up with the maintenance. You will be able to tell a lot about the car just by speaking to the seller, and even more by reading the history report on the vehicle.
   • The history report on the Oldsmobile will provide a title search, accident report, lemon report, odometer check, and registration details.
   • If the seller does not have a history report, then ask for the vehicle identification number (VIN). With the VIN you will be able to look up any filed history online at websites like Carfax.
   • If the vehicle history shows that the Oldsmobile has owner-hopped several times in a short time frame, then this might be a red flag to larger mechanical issues with the car.
   • If the seller does not have a car history report and will not give you the VIN to look one up, then you might want to consider moving on. It is typical for a potential buyer to want the car history, and if the seller was honestly looking to sell and had nothing to hide, then they would present one.

Examining the Oldsmobile in Person

1. Arrange a meeting with the owner to examine the Oldsmobile. If you are dealing locally, then you should be able to easily arrange a meeting at a large nearby parking or local park. If you have to travel, however, then make sure you have directions to the meeting location and have a mechanic lined up to help examine the vehicle for you.
2. Examine the Oldsmobile for imperfections. You want to examine both the interior and exterior of the car for dents and scratches as this might help you negotiate down the price.
3. Check the Oldsmobile for rust. Rust often affects the bottom of a vehicle first, which unfortunately, is where a lot of important pieces are located. So if you think that the vehicle may have rusting issues, your best bet is to check underneath the vehicle first.
   • It will look like small or large copper perforations in the metal. If present, this means that the frame of the vehicle is corroded and potentially weakened.
4. Take the car for a test drive. It is one thing to want a classic Oldsmobile, but it is another to drive one. You want to make sure you are comfortable driving the Oldsmobile before you purchase it. Check to see if you or your passengers will have enough leg room, and check to see if you are comfortable with the handling of the vehicle.
   • Also make sure that the seatbelts of the Oldsmobile are working properly. If the Oldsmobile does not have seatbelts, then know that is another expense for you upon purchasing it.
5. Have a mechanic you trust examine the car. Don’t take the seller at their word that the car runs smoothly. A mechanic will be able to tell you about any current problems or possible future problems you will experience with the Oldsmobile. Any repairs needed could break your budget, so it is best to know beforehand.

Negotiating a Price and Purchasing the Oldsmobile

1. Negotiate a price based on what you learned about the car. Between your personal research, the vehicle history report, and having your mechanic look at the Oldsmobile, you should have a pretty good idea what the vehicle is actually worth. If you have to, then make sure that you negotiate for the price you have in mind.
   • If you are afraid that the seller is going to counter your offer, then give an offer lower than what you are willing to pay. This way, when the seller makes the counter-offer, it has a better chance of being in your price range.
2. Walk away from a potential purchase if the car is not right for you. You do not have to purchase the first or even the tenth car you come across. If after inspection and price negotiating you don’t feel confident in making the purchase, then don’t.
3. Purchase your classic Oldsmobile. If you are happy with the results from the mechanic and with the agreed upon price, then purchase the vehicle. The process of signing over the vehicle can vary depending on where you live, but as a general rule, just make sure to have copies of any contracts or money receipts that were exchanged.
4. Get all documentation needed to register the vehicle upon purchase. You are going to want to register your Oldsmobile as soon as possible after purchasing it. This way you can get insurance and drive it freely without worry. Where you live greatly affects what documentation is required to register your Oldsmobile.
   • It is best to have the original title or certificate of origin, the bill of sale, and the VIN.

Tips

• Remember that classic vehicles come with their own insurance requirements, so be sure to discuss this over with your insurance agent.

References

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