It is much harder to estimate how much a classic car is actually worth. You may have an Oldsmobile Cutlass locked up in your garage, while you know it’s a classy vehicle, you are just not too sure about its worth. Or maybe you spotted a nice vintage ride, but you cannot just place a figure on it.
Well below are a few tips to choosing classic car value estimator Houston Texas.
- Research on Market Values from Dealers
With great knowledge on how much a dealer values a classic car, you can get an insight into how much the car is actually worth in a given condition. Although classic car values do not always stay the same, market prices change with time.
However, remember a dealer’s price is often inflated by around 10 – 20% and a few other variables are not factored into the dealer’s worth of the car, such as choice and demand. Irrespective, the dealer’s price is usually a good benchmark to base your value on.
- Check the Car Condition
The physical condition of a car is perhaps the most influential factor in estimating the real value of a car. Classic car faithful have adopted a five-star grading system as follows;
Excellent: often a drivable car in close to perfect condition.
Very Good: a car with slight engine problem or with a few scratches or dents but still drivable.
Good: a car with very fixable damages that would require a bit of effort to fix, but still drivable.
Fair: a car that needs a lot of effort to put back into a drivable condition again. Not in the best possible physical condition, has dents, scratches and some corroded areas, often not drivable in its given condition due to some engine troubles. A car that fits this description with a solid exterior build will usually be classified as fair.
Parts car: a car that is damaged beyond repair, as the name implies it is stripped down and the useful parts are sold.
Collectors would spend big cash to secure the purchase of a car in an excellent condition, usually up to double the original price. Cars in fair and good conditions are usually the most prominent in the market.
- Customization is a Minus
The more modifications a car has, the less its market value will be. While an efficient engine and a nice new stereo system may seem logical on the surface of things, however, these customizations drives down the value of the car because original parts are much harder to get and maintain. A car that still maintains the majority of its original build and engine will attract a far heftier price tag than its customized counterpart.
- Rarity is a Plus
The rarer your car model or engine is; the more desperate collectors will get to own it. This means that it can be sold at a very inflated price. If your car comes with a Charger alongside a Hemi engine, expect to make a fortune off its sale.