What is my Classic Car Worth?
I get asked this question almost every day. How do I find out how much your car is worth? I have a few steps to steer you in the right direction.
- You must know a little information first. Year, Make and Model are all very important. Is the vehicle original? Is it a clone or replica? Has it been modified? If so, is it a Restomod, Street rod, Gasser, Low rider, etc.? You need to be a fact finder so we can get the most accurate price possible. VIN tags and Data Plates will help.
- What condition is the car in? There is a rating system that varies slightly from one company to another, but the idea is the same. Here is a rating system from Hagerty Valuation tools:
- condition=Vehicles are the best in the world. Paint and chrome are mirror like, perfectly clean and groomed down to the tire treads with nothing wrong with the vehicle. Concours level.
- condition=Vehicle could win a local show, may be a former #1 vehicle but has been driven and aged. Flaws exist but may be hard to see by general public. Vehicle in excellent condition. No smoke at start up, no unusual noises. The vehicle will drive as a new vehicle. Excellent is the best description.
- condition=Vehicle may possess some but not all the issues of a #4 vehicle. Fresh paint job or new correct interior. Vehicle runs and drives well but might have some incorrect parts. Not used for daily transportation but could take a long trip without excuses. Good would describe this vehicle. Most car shows have #3 vehicles.
condition=Vehicles may be daily drivers, with flaws visible to the naked eye. Chrome may have pitting or scratches, the windshield may be chipped. Paintwork may be imperfect, or the body has a minor dent. A #4 vehicle may be a deteriorated restoration. Fair is the word that describes a #4 vehicle.
(If you are considering purchasing a Classic Car, I would highly recommend you chose a reputable Nationwide Pre-Purchase inspection company like Road Ready inspections as the classification or condition of the vehicle is vital to paying the correct price?)
- Tools to help with pricing now that you have the information you need. Old Car Reports, Hemmings, Hagerty Valuation, Hagerty Price guide, NADA, and Kelly Blue Book are all great places to start. Prices will vary from one resource to another, but you will be in the ballpark. Need more help? A Classic Car Bank or lending institution may help, local car clubs are often a good resource.
Written by Gary Hatch an expert in Classic Cars with over 40 years’ experience. Gary works for Road Ready Inspections and is often seen at local car shows and events