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Detroit: Can They Save the Cars?

Detroit skyline

Did you know that America’s car capital is broke? Detroit, MI, this country’s long-standing hub of car manufacturing, and the epicenter of the history of many of our great car brands and traditions, is suffering under $17 billion in debt and has begun to take drastic measures in an effort to avoid filing for bankruptcy.

As part of this new effort, many history lovers and car fanatics have been afraid that Detroit would lose its largest pieces of history, the massive classic car collection that so loudly speaks of the rich history this city offers.

Housed largely at the Detroit Institute of Arts and the Detroit Historical Museum, the collections includes cars like the original 1963 Ford Mustang, a few of the remaining Chrysler Turbine cars, some of Henry Leland and John and Horace Dodge’s personal collections, as well as a barrage of others, it appears that the collection is safe from sale or any type of repossession.

The man appointed to the head of Detroit’s financial restoration, Kevyn Orr, announced last week that after long meetings with the creditors and banks, the city’s plan does not include the sale of assets as any form of debt satisfaction.

Even though the city’s collection has been housed in storage for many years and kept away from the public eye, there is hope that this financial restoration might bring some of this collection out again for public viewing.

If you are a classic car collector yourself, you know how important this history is to the city of Detroit, and you also know how important it is to protect the cars in your collection. How long has it been since you’ve compared prices on collector car insurance? Classic Auto has excellent rates, customizable plans and even offers perks like roadside assistance. Give us a call today if you’re curious about securing better protection for your classic cars!


About the Author

is Vice President of Classic Automobile Insurance Agency, Inc. Classic Automobile Insurance Agency has been protecting collector, classic and exotics since 1992.

Posted: 6/28/2013 9:00:00 AM with 0 comments


Need For Speed


Are you ready to see the Ford Mustang in its newest role? Having starred in over 3000 movies since its debut in 1964 (James Bond, Goldfinger), the Mustang has found itself in classic movies like Bullitt and Bull Durham as well as some newer favorites like I Am Legend, Gone in Sixty Seconds and Transformers.

It’s latest appearance on the silver screen won’t be seen by the public eye until 2014 in the new racing flick, Need For Speed.

Said to be “accurate” and “authentic” to what racing culture looks like today, this movie will highlight a cross-country drag race and sport some eye-popping, real stunts that we hope will leave us on the edge of our seats.

Check out this preview and let us know if you think this movie will live up to the hype it’s receiving!






If you are the owner of a Mustang, whether new or old, Classic Auto Insurance has got your back. Give us a call today to find out more about our competitive rates and customizable plans, or fill out a free, instant muscle car insurance quote form to see how much money you could be saving with us!


About the Author

is Vice President of Classic Automobile Insurance Agency, Inc. Classic Automobile Insurance Agency has been protecting collector, classic and exotics since 1992.

Posted: 6/26/2013 9:00:00 AM with 0 comments


Pieces of Cinematic History: Steve McQueen’s Harley and Baja Truck


Want to collect a piece of American cinematic history? Heading to the Mecum Celebrity Auction at the Santa Monica, CA Air Center on July 26th-27th, 2013, are two pieces of history that collector car fanatics everywhere would love to get their hands on!

Legendary 60’s and 70’s actor, Steve McQueen was known for his classic action movies, but most importantly for his gusto behind the wheel. As a racing enthusiast, McQueen usually performed his own driving stunts on the silver screen, and he also owned several classic sets of wheels off the screen.

Two of his classics will be put on the auction block at Mecum this year, his 1931 Harley Davidson VL 74, and his 1969 Chevrolet C10 Baja truck.

The Harley is one from the inaugural year of that model, and includes the original engine, body and frame. The paint has been updated and the vintage motorcycle has been maintained to period-correct standards.

The Chevy Baja was built by the legendary Vic Hickey and sports a C30 cab with a C10 chassis. This classic truck was raced in the Baja 1000 in 1968, and was later purchased by McQueen in 1970.

Check out the Mecum Auctions this year for over 2000 other classic celebrity collector items, and if you come away with a fantastic vehicle, make sure you give Classic Auto Insurance a call for all your collector car insurance and vintage motorcycle insurance needs!


About the Author

is Vice President of Classic Automobile Insurance Agency, Inc. Classic Automobile Insurance Agency has been protecting collector, classic and exotics since 1992.

Posted: 6/24/2013 9:00:00 AM with 0 comments


Vintage Trucks - The Apple of the Collector’s Eye

vintageToyota Land Cruiser

Stanislaw Tokarski / Shutterstock.com


As trucks and larger vehicles have gained popularity over the last couple of decades, the registration of vintage trucks is steadily increasing and has been going up since 2008. The demand for this niche market was highlighted by the sale of a Toyota FJ-40 Land Cruiser for almost $90,000 at a Barrett-Jackson auction at Scottsdale this past January. Toyota, with its Land Cruiser, has had the biggest model-wise growth in this niche market. Land Cruiser registrations have gone up by more than 200 percent since the year 2008. Jeeps from the 70’s and the 80’s, Ford Broncos, various Land Rover Models and International Scouts are other popular vintage trucks that are selling for much higher prices than what they were originally purchased for.

Land Rover says that more than 70 percent of vehicles made by them since the late 1940’s are still running on roads today. The Land Rover Defender is a favorite among classic car and truck, enthusiasts. According to the Forbes magazine, Los Angeles based West Coast Defenders plan to restore and sell about 100 vintage Land Rover Defenders in pristine condition at a price range of $95,000 to $110,000. For those collectors who don’t want to spend as much on a classic truck, the Toyota Land Cruiser, manufactured since 1954 in various forms like the station wagon, the convertible, utility vehicle and hard top, is more economical and easy to restore as parts are still readily available.

An analysis of data collected from 15 major auction houses over the last five years clearly indicates that the number of classic trucks sold at auctions have increased by almost 150 percent, with their average values increasing by more than 30 percent. These gas guzzlers act as an all-terrain, large distance and short commute vehicle, offering space, luxury, style, class and performance to suit each individual, or a family. With more companies lining up newer, more advanced models every year (even now available in electric and hybrid models), today’s new trucks might just be a classic in the years to come. Hold onto that road-monster, maintain it well and treat it like a companion.

To maintain your classic or vintage truck, the first thing to do is to get it insured with classic truck insurance! Contact Classic Auto today for flexible collector car insurance options that can be customized to fit your needs as a driver and owner!


Sources:
http://www.trucktrend.com/features/news/2013/163_news130425_vintage_suvs_collectors/index.html


About the Author

is Vice President of Classic Automobile Insurance Agency, Inc. Classic Automobile Insurance Agency has been protecting collector, classic and exotics since 1992.

Posted: 6/21/2013 9:00:00 AM with 0 comments


Big Fortunes Come in Big Packages



As gas prices go up, fewer people are getting behind the wheel of large trucks. The more economical electric and hybrid cars are becoming the favorites of today’s drivers, putting trucks in a category that may make them worth a substantial amount of money once they enter the “classic” phase. Auction watchers all over the country are beginning to notice that classic trucks are becoming increasingly popular among rookie and veteran collectors. That rusting beast in your garage might just fetch you some big money.

At an auction held in Arizona last January, 12 vintage Toyota Land Cruisers (FJ series) were sold, of which one particular FJ-40 model sold for almost $90,000. The average value for classic Jeeps and trucks has gone up by 33% over the last five years, and many models of older trucks are gaining value at rates higher than those of collector cars.

In light of these statistics, it is in your best interest to preserve your truck and keep it in great condition! Collectors these days attempt to purchase classic cars that have been well maintained, unless they are enthusiasts of vintage car restoration.

Keeping your truck well maintained will help you ensure it retains its value over time. Remember to never replace original parts with knock-offs or cheap imitations, but spend the money up front to keep original parts in your truck - this will increase the resale value by leaps and bounds. Always keep your truck cleaned and out of the weather - rust can be a major hazard to older vehicles like these, so keeping them away from extreme conditions and protecting them from the weather will only help you add value to your classic truck. While keeping your truck well maintained and off the roads as much as possible, check into your options for classic truck insurance. Maintaining insurance coverage on these classics is always important, because you never know when a theft, natural disaster or other type of hazard will affect you.

Classic Auto Insurance can offer you competitive coverage for your classic or vintage truck. Give us a call today for more information or fill out our free instant classic truck insurance quote form online! Stay tuned later this week for more information about the types of classic and vintage trucks that are worth the most money, and what they’ve been selling for at the latest auctions! Do you have a collector just gathering dust in your garage? Find out!


Sources:
http://www.usatoday.com/story/driveon/2013/04/12/suv-prices-auctions-going-up-ford-bronco-chevy-chevrolet-blazer-jeep-toyota-land-cruiser/2078021/
http://www.autoweek.com/article/20130411/CARNEWS01/130419972
http://www.autoevolution.com/news/classic-suvs-the-next-hot-trend-among-collectors-58196.html


About the Author

is Vice President of Classic Automobile Insurance Agency, Inc. Classic Automobile Insurance Agency has been protecting collector, classic and exotics since 1992.

Posted: 6/19/2013 9:00:00 AM with 0 comments


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