Some people enjoy the hobby of buying classic cars to work on them and display them at car shows. Others, however, invest in classic vehicles to eventually sell them at a higher price. It may be a challenge, but finding someone who will buy your collectible car is possible. Here are some tips you can follow that will help you sell your classic vehicle.
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1. Estimate The Value
There are a variety of services you can use to determine an approximate value for your classic car. The estimate can vary based on your car’s condition and how much a potential buyer may want it. Some buyers might want to pay well over the price listed because your vehicle reminds them of their first car. A good rule of thumb is to set the price of your classic car a little above its projected worth.
Furthermore, when preparing to sell your classic car, getting your car registered is essential for a smooth ownership transfer and legal compliance.
It will help you avoid a loss if the buyer wants to bargain down to a lower price. You can look through forums to see how much the make and model of your classic car is being sold in your region. Additionally, you can have a professional assessor evaluate the value of your car for you. Keep in mind that you’ll likely have to pay a fee to get an evaluation.
2. Find The Right Venue
The venue you choose for selling your classic car will depend on what type you have. Some cars do better in auctions, while others are easier to sell online. If you’re uninterested in researching which option might be better for your vehicle, a quicker way you can potentially sell it is by offering it to a car dealer. Be aware that you may get less money selling to a dealer, but the process may go quicker than the other ways you could sell it.
If you choose to sell your car at an auction, there will be fees for providing a venue, which could cost you a percentage of the amount that you’re paid. You’ll have to research the auction house you’re considering and learn how they go about running their auctions. The most cost-effective means of selling your classic car is generally selling it online. You can post your car with its description and general information on a classic vehicle listing service. There’s usually only a fee per post that you make.
3. Highlight Rare Characteristics
Perhaps your classic car has characteristics that make it rarer than others. Examples of rare characteristics include souped-up engines, uncommon color combinations, or fully loaded features. When you make a claim that your vehicle has rare features, you need to provide proof to back up your claim. The proof is usually providing production numbers, which can be requested from the car manufacturer.
Other rare things that could boost your classic car’s value is if it was used in a movie or owned by a famous person. Research the history of your vehicle to see if it was ever in the spotlight for any reason. If you find anything noteworthy, it could raise the esteem of your car in the eyes of potential buyers.
4. Look Into International Markets
While your classic vehicle is possibly desirable to collectors in your region, it’s probably less exotic, since it was more than likely distributed in the area. In foreign markets, your car has much more potential for being rarer. Nonetheless, it will take your classic car being a worthy value to justify the cost of transporting it internationally.
For example, if your car is only worth $20,000, a buyer might not see it as worth paying international shipping fees, which can be as high as $5,000. Additionally, be sure to investigate the fuel and emission standards of the country you’re thinking about advertising your car. An avid collector may choose not to buy your classic vehicle if their country doesn’t allow them to drive it.
5. Fix Up The Car
You want your classic car to be looking its best before listing it, or letting a prospective buyer look at it. Find out the key features that tend to make classic collectors want the car you have, and make sure all of those features are restored. If the car you’re selling is a classic Mustang, you can learn more about parts you can potentially use to highlight its features at Revology cars shop. Once you have things restored, you should give your car’s exterior a good washing.
Find a soft, non-abrasive cloth, and wash it with a specially formulated car-washing soap. Keep your car out of the sun, so it doesn’t dry too quickly before wetting, lathering, and rinsing it. After you’re done cleaning the exterior, you’ll want to wax the vehicle to make it look shinier. Appearance is a major part of getting your classic car sold.
Buyers will find any reason to bargain down the price, and one of those reasons could be a poor exterior if you don’t take the time to shine it up. Once you get some wax from a local automotive store, wax the car on a cool day and keep it out of the sun. A hot day will cause the wax to dry quickly, which will make buffing the wax and getting a good shine difficult. Pick a day where the temperature is between 55 and 85 degrees Fahrenheit.
Carefully follow the instructions that came with the wax. You’ll likely have to use a foam applicator to get the wax applied in small amounts. The wax should be applied in circular motions evenly. Allow it to rest as long as the directions say. After you’ve rested the wax, you can polish the car with a microfiber cloth.
In addition to the outside of the car, you should vacuum the inside of any dust or crumbs. If your classic car has leather upholstery, clean it to make it look bright. If you’re unsure about doing the job yourself, you can contact a professional to detail the interior of the car for you.
Once you’ve done all the work of fixing up the car, you can get a pre-sale inspection from a professional as proof your car is in mint condition. While the cost for a pre-sale inspection can be as high as $100, the proof of your car’s condition can potentially add thousands of dollars to the value of your vehicle. Be sure to take well-lit photos of the exterior, the interior, and the car engine.
6. List Your Car At The Right Time
Certain times of the year are better than others for selling classic cars. In general, the summer months tend to be the best time to sell them. The winter months tend to be the worst time as people are more focused on purchasing holiday gifts for family and friends. It’s still possible to advertise your car in the fall and winter, but there’s a possibility you’ll have to set your price lower than you desire. Keep an eye out on the current gas prices as well. You’re more likely to successfully sell your vehicle if the current price of gas is low rather than high.
7. Meet Prospective Buyers In Person
A majority of buyers are going to want to see your classic car in person. They might even bring an automotive expert or a friend who knows a lot about cars to assess your classic vehicle. You should have the information about the car’s history and answer any of the buyer’s questions honestly. If you have any discomfort with meeting a prospective buyer alone, you can bring a friend along, or you can let a friend know you’ll be showing the car to someone.
If you let a friend know, they can be mindful of being near the phone in case you need to text or call about any problems. It’s helpful to get information about the buyer and ask if they’ll be viewing the car alone or with a guest.
8. Be Cautious About Test Drives
A buyer will often want to test drive your classic car to listen to the engine and see how it feels. Before you allow anyone to test drive it, verify the buyer’s driver’s license and insurance. If an accident were to happen, then that would be the end of your chances of selling it until you get it repaired.
Additionally, no potential buyer should be allowed to test drive the car alone. Even if you hold on to their credit card as collateral, if the car is stolen, the card likely won’t make up for the loss. You also should consider choosing the route where the classic vehicle is test-driven. A long straight road could allow the buyer to accelerate more to test out the engine. Utilize scenic routes with lakesides or picturesque boulevards to give the buyer a good feeling about what it would be like driving and owning your classic car.
Selling a classic car can sometimes take a lot of work. If it’s your first time selling one, the process may feel slightly overwhelming. Nonetheless, if you follow these tips, you can help increase the chances of finding a buyer for your car.
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