Once you have found a potential purchase, it is time to give the car a closer inspection. If the car is in your area or you have already viewed it, you’re in luck as the detailed inspection will be easier (you get to do it yourself). If you have found your dream ride across country on the internet, then you will have a few options to complete this process.
If you decide to talk to the seller by phone, make sure you have a printed list beforehand to help keep the conversation on track.
There are two types of questions, one with a factual answer and one with an opinionated answer. Questions like “what color is it” or “how long have you owned it” are factual. Questions like, “what kind of condition is it in”, “does it run good”, or “does it pick up the ladies” are opinionated. The car may seem to run good to the seller, but this is their opinion. Asking “is the body in good condition” may also leave room for an opinionated answer; asking “does the body have any rust or dents“ will only leave room for a factual answer. It’s best to start with factual questions. Getting a name or number of the mechanic through a factual question is also helpful. It shows that the car is being maintained.
When You Cannot View the Car Yourself
You have a few options when you cannot view the vehicle yourself.
a) Hire an Inspection or Appraisal Service – The higher the cost of the collector car, the more importance should be put on having the car inspected and/or appraised. Having a 3rd party view the car is probably the best $300 to $700 spent to calm your nerves with making a large “unknown” purchase online.
An inspection usually does not include an appraisal, which is used to determine the auto’s true market value. An inspection will verify the car is legit by being viewed by a 3rd party, detailing it’s true condition, but not necessarily putting a true market value on the car. If you know the car you are buying needs some work, this should be good enough for you. Prices start at around $350 depending on location of the vehicle.
b) Find a Local Car Club In That Area - Find the sellers local car club of that area or other local car fans and owners via website forums, facebook, etc. Many offer their services to set an appointment with the seller and inspect the car. This is a great way to determine the seller and car is legit, without spending much (usually a small paypal “donation” or a check in the mail is good enough). The poor man’s way to have some self assurance this is not a scammer hiding in his mom ‘s basement somewhere trying to steal your cash. Have I mentioned yet I hate these scum?
If you want to know if that claimed $20,000 paint job is truly legit, you should probably pay the few extra hundred dollars more for an appraisal. Most classic car insurers use some kind of appraisal company for them in remote areas if they can't do it themselves, and this will protect you on high end purchases.
** TIP ** When you purchase your collector car insurance, they will likely be appraising the car for you through themselves or their network. When you don’t need to know the exact market value for your purchase, the cheaper inspection could be good enough for you (Spend the saved $$ on getting a dependable and fully insured delivery service).
TimelessRides.com does not personally endorse or recommend any inspection services, but we are including the below websites for the reasons mentioned.
http://www.inspectmyride.com/ - This site is the official inspection company used for eBay Motors and AutoTrader .com , leaders in the online automotive classifieds market.
http://www.automobileinspections.com - This used to be eBay Motors official inspection company, and I know some people that have used it in the past and loved it. They specialize in collector vehicles, unlike InspectMyRide which seems to be a more general inspection service for any type of vehicle.
When You Can View the Car Yourself
When you can view the car yourself, an inspection company is generally not needed, but you could still hire one if you’d feel more comfortable. An appraisal is still highly suggested when buying a higher priced car such as a claimed numbers matching rarity, special edition, etc. This will protect your $150,000 Yenko from becoming a $40,000 Yenko clone.
If you will be inspecting the car yourself, we suggest making an inspection list beforehand. If you will be buying a car knowing it has some issues, you can likely skip some parts. If you can’t drive it for any mechanical reason, that leaves about half the list you can cross off. If you are buying a claimed true top model, then you will want to go through the complete list. You should know any issue or potential pitfall before deciding on paying the requested amount. Just like any “flea market”, you will find great deals and other items making you wonder how they could try selling that for a ridiculous amount. Know exactly what you are buying and what condition before making the transaction!
Researching the exact model you plan on buying beforehand can arm you with valuable information for the inspection process. Knowing the potential rust spots and other issues related to particular models is valuable information. I always suggest getting involved in online forums or local car clubs, where you will have owners and collectors point out these tips. There are even online buying guides, just search through google.
Condition Rating Systems
You may see a rating system used on the rating of a classic vehicle. There is no standard rating system in the collector car world, but the two most commonly used systems are the 100 point system and the 6 category system.
The 100 point system.
100 = PERFECT or SHOW CAR A complete professional nut and bolt restoration perfect in all aspects, or a vehicle in absolutely perfect original condition. The interior and exterior details and condition of the car are usually better than when it came off the production line. This vehicle is transported in an enclosed trailer and not driven, and stored in an environmentally controlled storage facility.
90+ = EXCELLENT A very well maintained original vehicle with low miles, or a nearly complete restoration done recently with very little mileage after the restoration. The restoration may not be a complete nut and bolt restoration, but close.
80+ = FINE Considered "Show Quality", a vehicle in this condition is completely operable and either an original vehicle with minimum wear, or an older restoration showing very minor wear.
70+ = VERY GOOD Possibly a well taken care of daily driven vehicle, this complete vehicle will show some signs of age from the original build or a past restoration.
60+ = GOOD A drivable vehicle showing wear, and may need minor mechanical or cosmetic work. This is a restorable car with no major issues.
50+ = DRIVER A daily driver that is a complete functional vehicle in good driving condition, with no missing parts. It will have several flaws but is running and in decent shape cosmetically.
40+ = RESTORABLE This vehicle would need restoration of the motor, body, interior and/or chassis. A car in this class should be more or less complete and not require a tremendous number of parts.
30+ = PARTIAL This vehicle is in need of an extensive restoration, and may be missing parts requiring a fair amount of money and labor.
20+ = PARTS CAR Generally these cars are not worth restoring, as most of the parts may be beyond restoration or are missing. These vehicles are best used for parts to restore the same model in better condition. Exceptions are very rare models or any other reason why that particular vehicle may be valuable, such as owned by a famous person, etc.
The 6 category system is used at a lot of auctions, and translates easily to the 100 point system.
• Category 1 would be a 90 + point car
• Category 2 would be a 80 - 89 point car
• Category 3 would be a 70 - 79 point car
• Category 4 would be a 60 - 69 point car
• Category 5 would be a 40 - 59 point car
• Category 6 is any car under a 40 point car
Chapter 6 - Classic Car Auctions