An "excellent" or "very good" vehicle may have been initially appealing, but after talking to the current owners, it is apparent that cars in this class are primarily for show. Rarely are these cars driven. Instead they are simply displayed like a fine piece of art. That's fine for some people, but many want the pleasure and excitement of sitting behind the wheel and taking a Sunday drive in the countryside.

Carefully evaluate the "fair" car that has caught your fancy. It may be nice and drive well, but when reality sets in, it might come as a surprise that the parts, supplies and new paint job cost far more than the car will be worth when completed! And remember, the parts that are worn out on the target car are the same ones that need replacement on all the models of that era. It might take months or even years to find the exact replacement door handles, radio knobs, headlamp bezel, and trim pieces to make your dream car shine.

For those who want a nicely restored car but don't want to do the work themselves, there are many paint and upholstery shops to provide the labor. Word-of-mouth from local enthusiasts will usually point you in the right direction. Ask for references and take a look at some examples of workmanship before signing on the dotted line.

Restoration shops such as White Post Restorations at
http://www.whitepost.com in Virginia, possibly the finest shop in the country, will happily take on your project -- for a price. They'll completely disassemble a car and rebuild it to its original specifications, but be aware that with any project of this scope -- estimates are simply guesses. Actual expenses may be much greater than anticipated.

Try to buy the best affordable vehicle in the "good" category. It should be nice looking, but not so nice that you're afraid to take it around and show it off. The car should be dependable and safe with little wear-and-tear -- something that would be easy to restore to an even better condition at a comfortable pace.

Pricing is another time-consuming chore made easier by readily-available resources. First scan the local newspapers and car club newsletters for an idea on regional pricing. Next, check out several respected magazines and books for current price values. The magazines, many of which come out monthly or bi-monthly, contain the current average prices for models in all conditions. Some of the better known publications include Old Cars Price Guide, which covers automobiles built from 1901 through 1991, and Collector Car & Truck Market Guide with prices on vehicles from 1946 to 1979. Two very useful books on antique car pricing are: Standard Guide To Cars & Prices by James T. Lenzke and Ken Buttolph and Cars & Parts Magazine's Ultimate Collector Car Price Guide.

Once a decision has been made about the type of car, its condition or category, and a realistic price range, it is time to let people know you are looking. Start with the local car club and ask around. The very car you may have been admiring for months may actually be for sale.

Next, search your local newspapers, but don't hesitate to comb through national publications as well. Hemmings Motor News at http://www.hemmings.com, a monthly publication with roughly 800 pages, and Old Cars are two very good publications that list cars for sale as well as information and ads for restoration shops, automobile transport services, parts, accessories and an abundance of resources for the amateur car collector or serious restoration expert. Their publications can be ordered from the web site. In addition, there are several free features that are useful including a car and club locator and another for automotive museums.

Another helpful source for potential buyers (and sellers) is the Car Collector Trader Online at http://www.traderonline.com. On a recent visit to their growing site, there were 20,337 ads just for collector cars. Other categories included newer cars (with almost 500,000 listings), airplanes and trucks. In addition to the classified section, the Trader Online also lists events such as car shows and auctions, and numerous ads for part suppliers and specialized automotive services.

When the big day comes to knock on doors and go for a test drive, be sure to take a trusted and knowledgeable yet emotionally-unattached expert along. When the beauty of the car is blinding, it is helpful to have someone to point out the torn upholstery, missing chrome trim and damaged fenders. A disinterested third party can inject some reality into the over-anxious buyer. The opinion of your trusted friend should be carefully considered, whether positive or negative. Remember that's the reason you asked your trusted friend to join you.

Classic Cars and Investments

Unless you have lots of money to burn, don't consider buying a collector or antique car for investment purposes. There are the rare occasions that someone comes across a one-of-a-kind show car stored in a barn for 50 or 60 years, or a pre-war Packard someone's grandmother is offering for sale, but the chance of buying an antique car and having the value skyrocket in the near future is unlikely. Remember -- you get what you pay for. If the deal is too good to pass up, there may be something not quite right with the car or its history. Buy the car of your dreams because it's a piece of automotive history that appeals to you, not as a savings account for retirement. By following this rule of thumb, you'll never be disappointed.

Not All Collectibles Are Antiques

While most people reading this are reminiscing about their favorite cars from years gone by, not all collectible cars are from yesteryear. Probably the most "future collectible" automobile on the road today is brand new.

Volkswagen's 1999 New Beetle is the hottest two-door in the marketplace. It is attention-getting, modern and safe with retro styling. It's already found its place in the history books and developed a hot reputation. Because of the short supply many cars are being sold for up to $10,000 over the suggested retail price.

Buyers beware. The suggested price (MSRP) on the window sticker is fair, but buyers overcome with the emotion of the moment may end up paying much more than the car will ever be worth. Like any new car, when the supply catches up with the demand, resale prices will fall sharply. But the New Beetle can surely be called a "future collectable" for the smiles it will bring for generations to come.

Collector Car Insurance

Now that you've finally purchased the car of your dreams, it may not be possible to include it on your standard insurance policy. The car may be too old according to the agent's guidelines. In addition, some older fiberglass-bodied cars like Corvettes may also be excluded from regular policies because of the high repair costs.

No need to fret. The local or national chapter of the car collector club you joined earlier can recommend an antique auto insurance carrier that routinely covers collectible vehicles in your state. Specialized policies often require belonging to a club and limiting the annual mileage. Most of these policies will cover transportation to exhibitions, club activities, parades and very moderate occasional use, but won't cover the car for everyday driving. Rates tend to be very reasonable and the application process is easy.

Referrals from other owners are the best way to find a participating agent. If you're unable to get recommendations, try contacting the agencies listed below. (Please make sure they are licensed in your state and have no outstanding complaints with the Better Business Bureau.)

• Blueprint Auto Insurance Agency, Inc. (1-800-530-5305)

• Condon & Skelly Antique Auto Insurance (1-800-257-9496)

• Grundy Agency (1-800-338-4005)

• Hagerty Classic Automobile Insurance (1-800-922-4050)

• J. C. Taylor Antique Automobile Insurance (1-800-345-8290)

Old Cars And Safety

Safety is another important area to consider. Although it is preferable not to modify collector cars with fancy and modern features, it is a good idea to have a qualified technician add seat belts. This offers peace of mind and encourages good habits in children.

One Last Thought

If you follow these suggestions and buy the car of your dreams, a little part of history will be yours forever.

Footnote:

Brenda and John Priddy currently have four collector cars in their garage: a 1939 Plymouth Deluxe Sedan in good condition, a 1965 Corvair convertible in excellent condition, a rare 1962 Devin C roadster undergoing a ground-up restoration and a still unidentified police pedal car from Mexico in fair condition.