For many of us it`s a longstanding ambition. We spent years focusing on what`s affordable and what`s practical, what`s nippy enough to get around the city or safe enough for transporting the kids, but what we really want is a classic car that makes heads turn as we drive down the street. If you`re finally in a position to buy your first muscle car, what should your priorities be?
Listen to your heart
Let`s face it – your first muscle car isn`t likely to be that 1968 Dodge Charger or `67 Chevy Camaro coupé that you`d buy if you became a millionaire. You probably can`t make all your dreams come true at once – but that doesn`t mean you should be too willing to make compromises. The best approach is to keep a few favorite brands in mind without being too picky about models, and follow the markets to see what prices they`re selling for. You can then attend car shows primed to spot your First Muscle Car. Don`t be tempted to settle for something that`s not on your list just because you can get a good price – the idea of this purchase, after all, is to make you happy, and if it doesn`t do so over the long term then you`ll only end up spending more.
Use your head when buying your First Muscle Car
Saving up to buy a muscle car is one thing, but can you afford to run it? It`s important to calculate fuel costs before you decide which models are a practical choice. As a rule, the heavier the car, the more expensive it will be to run, but age is also a factor, with more recent models generally using fuel more efficiently. You`ll also need to consider the cost of insurance, which will depend on the price but can also be affected by how and where you plan to drive the car and how you plan to store it when not in use. If you choose a model whose value is likely to appreciate over time, you can balance the increase in value of your investment against the cost of insurance, but remember that you`ll still need to be able to find enough cash to pay the bills.
Choose your moment
Just as prices vary within the car market itself, the state of the economy varies over time. If you put aside money and wait for an economic dip, you may well be able to pick up a car much more cheaply, not least because people who buy cars as investments often sell them in situations like that in order to keep their other financial concerns running smoothly. The more muscle cars there are on the market, the harder it is to find buyers for them, so prices tend to drop overall.
If you don`t have all the money you need to buy the car you want outright, it is possible to get a car loan even if you have little credit history. However, you must ensure that you factor the cost of paying off the loan into your ongoing expenses. Bear in mind that if you run out of funds and are forced to sell, you`ll not only lose the car but you`ll probably end up worse off than you were to begin with.
Watch out for red flags
In this situation, the last thing you want is a car that`s going to lose value over time. Most classic muscle cars are a fairly safe bet in this regard, but only if they have been properly looked after. Cars that have been neglected can cost a lot of money and time to put right. Problems like rust – even if you only see small patches – are a red flag and should prompt you to walk away from a deal, no matter how good it seems. Other red flags include VINS that don`t match, missing AIR systems and implanted engines from other vehicles. Be careful to check any paperwork that goes with the car and be wary of buying vehicles with waves in the bodywork, which can indicate poor quality manufacture and flag up an elevated risk of problems developing over time.
What happens next?
Once you`ve found a car you want, you`ll need to work out the best way to get it home, which may not always be to drive it – think carefully about the terrain you`ll be traveling through. You`ll need to have a secure place to keep it and – unless you want to risk losing money – you`ll have to pay a lot of attention to maintenance. This last part isn`t so bad because when you`ve bought a car like this you`ll be looking for excuses to spend time with it. Just remember that these vehicles were built to be cool, not safe, and do take care when you hit the road.
