Despite interest among diehard fans, classic cars are becoming rarer than ever before. The time, equipment, and expertise required to restore a vehicle to its former glory mean the price of restored motors has increased in recent years.
However, this has led to renewed interest in at-home restoration projects. While a professionally restored vintage motor might be a little outside your budget, this doesn’t mean you can’t find a vintage motor that needs some TLC and restore it yourself. What’s more – you could even make a profit and turn your hobby into an investment opportunity!
Choosing a Project Car
If your ultimate goal is to restore a classic car and return it to the market, then you’ll need to consider the resale value of specific models, as well as demand for them. Alternatively, you may have a dream car in mind that you’re eager to own.
Whether you’ve already got a car in mind or you’re open to suggestions, take time to locate the right vehicle. Rushing into a purchase could leave you with more work than you’ve bargained for, not to mention increased expenditure. It can take some time to find the ultimate project car, but it’s always worth the wait.
Don’t Forget Insurance
Although classic cars are often exempt from road tax, you’ll still need to insure your vehicle. If it’s going to be staying off-road, you may be able to avoid taking out insurance right away, provided you complete a Statutory Off-Road Notice (SORN).
However, parking your car on the road or driving it means insurance is essential. Even if you do plan on keeping your car off-road for the time being, you may prefer to have the peace of mind of knowing it’s insured.
Fortunately, there are plenty of options when it comes to insuring your motor. Be sure to do a comparison first, as this can help you to find the best deals. With a car insurance comparison at Quotezone, for example, you can compare hundreds of insurers at once and locate the most cost-effective policies quickly and easily.
Know When to Get Professional Help
Depending on the make and model of your vehicle, there are lots of restoration tasks you’ll be able to perform yourself. With handy guides available online and active restoration communities welcoming new members, you’ll find it easy to access guidance and support.
Of course, amateur restorers will need to call on experts from time to time. By deferring to the professionals for some elements of your restoration, you can ensure that your vehicle remains true to the original model. In addition to this, professional restorers can often source original parts more easily, which could save you time and money.
Selling a Refurbished Classic Car
Once your restoration is complete, you may want to sell your vehicle. With any luck, you’ll be able to make a tidy profit on what you’ve already paid. If you do decide to sell, remember it can take time to find the right buyer. There’s a smaller market for classic vehicles than current models, so hang tight and be prepared to wait for the highest offer.