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Buying a classic car can be very expensive. Depending on the condition of the car, you could pay anywhere from $300 to $20,000 for a classic car. More than likely your budget for a classic car will not be on the high end of the range, but somewhere in the middle. Here are some tips to help you negotiate classic car prices to get the best deal and stay within your budget. First, you need to check the actual value of the classic car. The best way to do this is to check a classic car prices guide book. Common car price guide books, such as Kelly Blue Book, will provide you with classic car prices for models going back to the muscle cars of the eighties. For anything older, you will need to search elsewhere.
One of the best classic car prices guide books is the NADA guide book. This guide book lists classic car prices for cars in various conditions, much like the more common price guide books. However, the NADA guide book lists classic car prices for all makes and models going back to 1920. This is the best guide book to find classic car prices in most cases. You can find the NADA guide book, or a comparable classic car prices guide book, at your local book store. You can also sometimes find these guide books in libraries and auto parts stores. If you cannot find the NADA guide book, you can also order one from their web site for a small fee.
Once you know what the value of the classic car is you need to compare it with the asking price of the classic car. Check the condition of the car and classic car features when looking up the classic car prices in the guide book. This will prepare you for reasonable and knowledgeable negotiations with the seller. Once you are ready to begin negotiating classic car prices with the seller you need to meet with them. Make sure that you meet with them with the car in question. You will want to inspect it for yourself to ensure that the condition is what the seller has claimed. This will also give you a chance to assess the problems with the classic car and the estimated cost of restoration.
Start by asking the final asking price of the classic car. Knock that price down to a couple hundred below guide book value and submit that classic car price as your offer. If the seller does not accept, ask for a counter offer. If this offer is too high for the value of the car or not within your budget, it is time to move on to the final step. Finally, submit your final offer to the seller. Your final offer should be reasonable and fair. If you offer too low in the range of classic car prices you will reach a stalemate with the seller, and finding another classic car the same make and model could prove to be difficult. Start with the perfect condition guide book value of the car, and work your way downward by estimating the total cost of restoration. When you have finished evaluating the classic car, submit your final offer to the seller with an explanation of what is wrong with the car that you will need to pay to fix. |
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