7 Tips in Buying Collector Cars

7 Tips in Buying Collector Cars

Updated on April 21 2024

METRO MANILA, – Do you love cars that just stand out from the crowd? Awesome!

Cars are one of the most common modes of transportation all over the world. But for petrolheads, there are some vehicles that are truly special.

We'll tell you why they are worth collecting and how to spot the right ones.

What's so special about them?

To most people, a car is just an appliance. It is merely an object with four wheels, seats and a roof to help you get to places.

But there are several reasons why some cars become collector's items:

  1. They are the epitome of luxury. That's why some avid collectors include Hollywood celebrities, entrepreneurs from multinational companies, politicians and those born from wealthy families.
  2. They are a smart investment for the enthusiasts. Regardless of the cost, someone will pay for it in the future as long as the vehicle is working well and looks appealing.
  3. They are packed with amazing features that are usually missing from hum-drum family cars.
  4. They are one of the most visible ways to show your social status.
  5. Some of them offer amazing performance that other vehicles cannot provide.

How do I buy one?

Having a collector car seems like a tantalizing proposition. There's nothing like having something truly awesome sitting in your garage.

But before you pull out cash from the bank, here's what you need to remember:

1. Know what you’re buying

Be familiar with everything about the vehicle you want to ensure that it will be a good investment. This means knowing the history of the brand and the model that you’re investing in.

For instance, the W140 Mercedes-Benz S-Class, which was made from 1991 to 1998, is packed with features like self-closing doors and a sophisticated climate-control system. Many of these aren’t even standard on modern luxury cars that cost 10 times as much.

2. Be familiar with the market value

While collector cars gain value over time, these can also depreciate if they’re not maintained well or if they haven’t gained much popularity.

The best way to know the current market value is to check used car dealers and auction houses locally and internationally. You can also attend auto shows or exhibitions.

3. Choose the right seller

There are a lot of reputable car dealers out there. But there are also some unscrupulous ones who will sell you a vehicle that has been rebuilt and salvaged from a total wreck at an exorbitant price tag.

To avoid this, make sure to do a background check before setting appointments with the potential merchant. That way, you will know his or her reputation before making that big purchase.

4. Talk to other buyers

Getting recommendations from friends or relatives who have had experience with specialist car sellers. This way, you can be sure that whatever car you buy is worth the price you paid.

5. Have realistic expectations

It’s important to understand that even though collectible cars can appreciate in value, it is not guaranteed.

Always remember that there are risks involved when buying any kind of asset, including collectible cars. Don’t expect to get rich off of your investments because the value fluctuates depending on the market.

6. Treat it like a business deal

In buying collectible cars, do not merely focus on the appearance and the price. Collector cars sell for big bucks, so think of the process as a professional transaction.

Treat your offer as an opening move in a negotiation and expect to hear back from the seller asking for more money. When he or she makes an offer, respond with a counteroffer before getting distracted by another car.

This is the point where an intermediary can be helpful. You can get help from someone who will handle the negotiations and paperwork.

7. Buy one car at a time

If you're new to buying collector cars, it is highly suggested to buy one at a time. This allows you to determine if building a collection is right for you.

Although older cars have fewer electronics, these may need special tools or equipment to diagnose problems. In addition, parts may not be easy to source anymore, so maintenance and repair costs can get expensive.

However, if you want a simpler used car, Automart.PH offers a wide variety of second-hand and repossessed cars at great prices all over the Philippines. You can choose from different prices, types and brands on our website.

Just reach out to the Automart.PH on Facebook and we will help you pick the best one, or click the connect button on the lower right, or contact 0927-887-6400. You can also email us at contact@automart.ph

Automart.PH Senior Content Creator VJ Bacungan and Content Creator Kyle Liong contributed to this story.