Estimating the Value of a Classic Car Accurately

May 21, 2021   Classic Cars

It is easier to identify a classic car than determining its value. Your friends, family members, and even neighbors would take every chance to at least take a picture of the lovely classic car hanging in your garage but you might have a difficult time deciding the value of the car if peradventure you want to sell. Or maybe you found your dream classic car listed on a car lot but do not know if its price is fair or not. Classic car value estimator Maine can help you get the right estimate of that sweet vintage ride you’d like to sell or buy.

So how do you estimate classic car values? The easiest option is to use the services of a classic car value estimator Maine. These experts are skilled in handling this kind of task and know the tricks to know how much a car’s worth. Check out a few tricks below

Market Research

The first obvious way to determine the value of a classic car is to visit as many dealerships as possible to get updated on the current market value. The results from the research put you a step ahead in determining an accurate estimate for your sweet vintage ride.

Have it in mind that a dealership will always give you a quote higher than the actual market value. Oftentimes, they add 10% extra. Other determinants include demand for the car and personal preference. Amongst all the options, consulting with dealers gives a more accurate price range.

Car Condition

One of the major factors that determine how much a classic car’s worth include the condition of the car. Most classic car appraisers use a five-point system, as follows

  • Excellent – indicating the car is as good as new

  • Very Good – Car exhibits minor mechanical fault or small scratches but usually drivable

  • Good – Car requires a little restoration job, and in perfect shape for commuting.

  • Fair: Requires more restoration job with obvious damage. A car with a good exterior look but with a faulty engine or mechanical failure.

  • Parts Car: The car is written off and irreparable. Just as apparent in its name, people buy the car to make use of its part not for driving purposes.

Customization Devalues the Car

While ‘pimping’ a ride to your taste can be a great idea, it devalues its worth when you want to sell. One of the reasons behind this notion is that it is hard to find original parts of a classic car on the market. In the same vein, maintaining the original parts doesn’t come cheap. A classic car that hasn’t undergone any form of modification will come with a hefty price tag.

Rare

Classic Dodge Chargers for instance may be expensive on the market, Chargers with a Hemi engine is a jackpot. This is because the latter were manufactured in limited numbers. Rare classic cars command a higher price.

Get to know the value of your precious valuable through the right classic car value estimator Maine.