Becoming a car collector is often a rewarding and fulfilling hobby. Car enthusiasts can build a collection of cars that reflect their personal interests and preferences and can enjoy the thrill of finding and acquiring rare or unique vehicles. Car collections can also be valuable investments, with the potential for appreciation in value over time.
If you’re interested in becoming a car collector, you must consider certain logistics before adding vehicles to your collection, such as the amount you’re willing to pay, storage, transportation, and insurance. Here’s how to become a car collector.
Calculate What You Can Afford
Collector cars can vary widely in price, depending on factors such as rarity, condition, historical significance, and popularity. Before investing in your car collection, you need to decide how much you can afford to invest in this somewhat pricey hobby. Of course, you may be able to eventually turn a profit from some of the classic vehicles, but your collector cars are not guaranteed to become more valuable over time.
In addition to the cost of the classic vehicles themselves, you need to consider vehicle maintenance, storage, transportation, and insurance. You may be able to afford a breathtaking 1968 Mustang GT 390, but can you afford to store and insure it?
Calculating all potential expenses will give you a better understanding of what cars you should invest in and how many you can include in your collection when getting started.
Find a Place to Store Your Collector Cars Safely
One fundamental aspect of calculating how much you’ll need to invest to start your car collection is finding optimal storage. Storing classic cars in a safe, climate-controlled location is crucial for preserving their condition and value over time.
Classic cars are made from materials sensitive to temperature and humidity changes, such as leather, vinyl, and rubber. Exposure to extreme temperatures, moisture, and sunlight can cause these materials to deteriorate, leading to discoloration, cracking, and warping. These classic cars will likely be valuable, so you must also protect them from theft and vandalism.
In addition to preserving your car collection’s worth, a well-maintained storage location can provide a space for regular maintenance and repairs, ensuring that your cars remain in good running condition and ready for use.
Examples of proper classic car storage may include a climate-controlled garage, a dedicated car storage facility, or a specialized car capsule or cover, all of which provide the necessary protection and security to preserve the car’s condition and value.
Figure Out Transportation
Once you know where you’ll store your stunning classics, it’s time to figure out how to transport the vehicles to your climate-controlled location. Classic vehicles require special care; some will not fit modern enclosed car trailers. For that reason, you’ll need to work with an auto transportation company specializing in classic vehicles.
It’s also important to note that price does not equal quality service when it comes to transportation — just because a transportation company is more expensive does not mean they’re qualified to deliver your stunning vehicle.
Plus, some classics will require special attention to preserve their value. Direct sun exposure can damage the paint on a classic ride, and some classics may need to have their wheels removed to fit them on an ideal transportation trailer.
Make sure to do your due diligence in finding a qualified classic car transportation company.
Find Your Passion and Theme
After calculating all the necessary expenses, it’s time to find a theme that ties your collection together. Your theme could be based on a particular brand or model, an era in automotive history, or a certain type of vehicle, such as muscle or sports cars.
Alternatively, the theme could be based on your interests or experiences, such as cars seen in movies or those from a particular region. Once you choose a theme, you can focus on collecting stunning vehicles that fit within both your budget and creative vision for your collection. Having a theme will likely greatly enhance the experience of collecting cars.
How To Get Car Collector Insurance
If you’re wondering “how much is car collector insurance,” it will depend on the cars within your collection. You’ll need to insure each vehicle, but classic car insurance is typically far more affordable than standard vehicle insurance. The reason why is that you’ll likely drive your classic cars far less than a standard, contemporary vehicle. You’ll probably not use one of your valuable classics to drive to work each day or run errands.
Your car’s model, age, rarity, and condition will impact how much you should expect to pay for insurance. Fortunately, you can get an estimate on each vehicle in your collection through Classic Auto Insurance.
Classic Auto provides our clients with flexible and affordable insurance policies based on agreed-upon value. Our agreed-upon value policy means that we’ll work with you to determine your classic car’s worth. If the worst scenario happens and you total your classic beauty, you can expect to receive the full agreed-upon amount minus your deductible.
Our exceptional policies also include great perks like nationwide flatbed towing, inflation guard, and rollover miles. You can get an instant quote for each vehicle in your collection here, or you can call our classic car experts at 888-901-1338.