Article Courtesy of Hagerty Insurance Canada

When it comes to buying a collector car, there is a lot to take into consideration.

Buying via internet is increasingly popular these days. This allows collectors to spot and purchase vehicles long distance. Hagerty Insurance lays out some important factors to take note of before you head out in search of that classic car.

Local Talent
Using a reputable magazine or website allows for some degree of protection. By advertising in that magazine, advertisers must follow some form of a compliant system, which requires them to be accountable for their actions. Sites like eBay have comment sections and rating capabilities so that you can see what other dealers and buyers are saying. In each case, however, you still aren’t able to see the car in person. This is why acquiring local talent to look for you can be beneficial.

Good examples of some local talent could be  a friend, a member of a car club you’re apart of, or a professional appraiser who lives near the car. Make sure your local expert has the proper expertise to inspect the car, as the details are incredibly important for insuring it.

The Professional
Hiring a professional appraiser is another option. It’s important to ensure he/she has specialized knowledge of collector cars. Finding a reputable appraiser can be tricky, but you can use hobby magazines with appraiser ads. You can also find a company that sells parts for your specific type of car and ask about a recommended appraiser.

Legal Issues
It’s important to consider the different laws that might apply from different regions. For example, in Wisconsin you’re allowed to operate a vehicle purchased in another state for 48 hours before registering it. Therefore you can purchase the vehicle, arrange insurance by phone and legally drive it home as long as you get temporary tags within two days. The NADA (National Automobile Dealers Association) publishes guides on state vehicle laws. These guides can be used to research the rules that apply in your particular case.

Auto Transporters
Want to have someone transport your collector home? Certain publications are filled with advertisements offering vehicle-transport cervices. The advertising department of any relevant publication to find a reputable transporter and what their rates might be.
Rates for vehicle transportation can vary depending on the load, kilometers/miles and other traffic going in the same direction. Some services haul cars on small single-vehicle trailers, some use enclosed car haulers, and others use large trailers pulled by semi trucks. Whichever way you go, make sure the hauler has a Commercial Driver’s License (CDL), an Interstate Commerce Commission (ICC) license and good insurance coverage. It’s important to ensure that the transporter is well insured as well, and read any fine print that is found in a contract before you sign.

When you make it down to the car, check it over carefully before taking delivery. This is where you’ll also want to insure it under a collector car policy. Most companies can be contacted before you make the final purchase to initiate a policy upon concluding the sale. You’ll need to include the type of car, how you plan to use it, have to report the type of car, how you plan to use it, and an agreed value for that type of car. You’ll also want to take pictures, as the insurance company will want a copy of those.

Satisfaction Guaranteed
Ask about a warranty on the sale of the car, something that can come in handy. If something were to happen to the vehicle, the dealer might have a provision in the warranty that could allow the collector car to be repaired at no cost to you, the buyer.