How to Buy a Classic Car

You've done everything right. You've got the drive to do a restoration, the money and the time, and even "the vision." But your eagerness has led you into a simple but devastating mistake: You bought a trash heap to restore—a rusty money-trap that's going to take far more work to put right than it deserves.


Indeed, starting with a loveable rolling wreck can be the most expensive way to do a restoration. It's fine if you've found a Cobra factory racer that will be worth millions when you're done, or if you want to create a hot rod that uses very few original components. But what if the apple of your eye is Aunt Martha's old Plymouth Valiant? You're upside down before you've even gotten the thing off the trailer.


Here are four sage pointers that can make your restoration project a tire-smoking success.

Set Clear Goals
Rule Numero Uno before starting any restoration is to have clarity about why you're doing it, and what you want the end result to be. For example: Are you retired and looking for a fun project? Do you hope to make money on your enterprise? Is the goal a perfect show car? Is buying a fixer-upper the only way you can afford your dream car? Or is it just a fun ride for next summer? Buying the right car for your situation can greatly impact the pleasure and success you get from the project.

Search Patiently
Once you've targeted the type of vehicle you want, wait for the right one. Your relationship with this car will be a long one, and years from now you'll be glad you waited. This not only goes for the proper make, model and options, but the right condition as well. Let's say you've always wanted a 1966 Mustang K-code. Everyone knows you can fake one from a six-cylinder with a set of fender badges, a solid-lifter V8 and a few other details. But you will always know what it is—a fake. Instead, subscribe to "Hemmings," scour the Web, join some Mustang clubs—and wait. You'll soon find the real thing.