Here are the most valuable life hacks for car collectors on a budget

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Classic Cars give their owners a feeling that cannot be replicated in a modern automobile. Yes, the technology, safety and ride quality in a modern automobile are dramatically better. However, classic cars evoke an emotion that cannot be described.

There’s something about a collector’s car that moves you deeply every time you get behind the wheel. Collecting cars isn’t just for the rich. Anyone with a passion for cars can become a collector.

Here are a few tips to make your dream of collecting classics a reality.

Related: How to determine if a car is going up in value

An ‘appreciation’ for nostalgia

The decision to buy a classic car can be both exciting and scary at the same time. The good news is, it doesn’t have to be a classic just yet. The key is to buy low and sell high, or if you’re Jay Leno, never sell at all. Every car reaches a point on its depreciation curve where its value could fluctuate in either of two directions.

The car can be driven into the ground where the value of the vehicle does not outweigh the cost of maintenance. These cars are usually scrapped and disassembled at junkyards. Then a car comes along every now and then and becomes desirable again. This happens with vehicles with nostalgic characteristics. Usually, within 15 to 20 years, certain specialty cars stop depreciating and begin to appreciate in value.

It’s when a car that was once a childhood favorite becomes available for the first time. By around the age of thirty to thirty-five, an enthusiast will be financially stable enough to be able to afford their childhood dream car.

For example, an entire generation that grew up watching Gran Turismo and Need for Speed ​​is now grown up. Popular cars from the mid-1990s, like the Mark IV Toyota Supra and the Acura NSX, have all skyrocketed in value over the past five years.

The key is to find a vehicle that was once the bedroom poster 15-20 years ago. A car that is recognizable, timeless and naturally nostalgic certainly has the highest likelihood of becoming a future classic.

Related: These are the best Need for Speed ​​games of all time, ranked

Classic Car Insurance Hack

No one likes getting auto insurance, especially for a car they hardly ever drive. Insurance can be expensive, and when it comes to classic cars, they don’t have to be registered as antique to qualify for classic car insurance.

There are two companies that will insure your classic car for an agreed price. Hagerty is a company that specializes in classic car insurance and prides itself on great customer service. A cheaper alternative to Hagerty is district farmwith his version of classic car insurance.

There is an application process that requires you to submit a form to a State Farm Underwriter. The form asks a few simple questions, e.g. B. what the car is used for (e.g. trailer queen, car shows). Also, you need to give them a realistic estimate of the value of your classic. Finally, you have to tell them how many kilometers you will drive the car annually.

They usually accept any classic car that is in excellent condition. The main thing is that it is not used every day and only drives a few thousand kilometers a year. Depending on the agreed value, the average classic car has a six-month premium of around two hundred dollars.

Find a Trusted Independent Mechanic

Owning a collector car can sometimes turn into a love-hate relationship. If you don’t know how to work on a car yourself, you need to have a mechanic you can trust to service your classic. Most dealers charge extremely high labor costs and have limited knowledge of how to work on a classic.

Independent mechanics tend to have small workshops with less overhead and charge cheaper labor costs. These shops usually have more experienced technicians with a broad knowledge base of classic cars.

Related: These classic sports cars will either bankrupt you or make you a skilled mechanic

Long term parking hack

Most people don’t have a four-car garage, or better yet, a spouse who is completely fine with a driveway full of old cars. As a result, car collectors resort to storing their cars. However, car storage can be expensive, typically starting at around three hundred dollars a month.

For those of you who live in the suburbs, public parking on the street should not be a problem. A good all-weather car cover will protect it from the elements. Just beware of street sweeping times and gossip that might report it to the city. In certain cities, cars that are left in the same place for more than three days have to be towed away. You have to check your vehicle every few days to move it to another location.

For city dwellers, there are public parking garages that are cheaper per month than most car parks. For peace of mind, look for garages with surveillance security and 24-hour surveillance.

Get a pre-sale inspection and AAA membership

Most mechanics will perform a pre-purchase inspection (PPI) on any car for about one hundred and fifty dollars. The technician puts the car on a lift and performs a multi-point inspection. A PPI gives you a better idea of ​​the work that needs to be done to fix your future classic.

If you’re worried about being stranded on the side of the freeway, get one AAA Membership. It costs less than a hundred dollars a year and you don’t need AAA auto insurance. Plus membership costs a little more but offers up to a hundred miles of towing four times a year.

Sources: YouTube, American Automobile Association

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