The appeal of the musclecar is undeniable. These “old” cars that were built in the ‘60s and ‘70s still command our attention, and leave us with a feeling of want and need. There is something about owning a classic Chevrolet musclecar that frees our spirit and removes most psychological limits that we place on ourselves. Spend some time behind the wheel of a classic musclecar, and you’ll see what we mean.
Whatever the reason for wanting to own one of these true American modes of conveyance — be it reliving your youth or enjoying the ability to accelerate from zero to 60 in a matter of seconds, buying your first musclecar can be a great experience. But, not knowing what to do before you buy an old car can also leave you with empty pockets and a worthless dream parked in your garage.
If there is one thing that unfortunately happens, it is that someone buys a car before they do any research about that car, or inspects it. Buying a vehicle that turns out to be less than advertised is a surefire way to be left feeling disgusted. So, to help keep that from happening, we decided to put together this basic guide of things that will help first time buyers avoid situations that ruin the enjoyment of buying their first musclecar.
Have Reasonable Expectations
If you are a first-time musclecar buyer, please make sure you have reasonable expectations. Don’t assume your purchase will ultimately be an appreciable asset. Musclecar values can, and do, fluctuate drastically. That being said, if you purchase a high-end musclecar solely as an investment, don’t plan on enjoying the car very much.
These high-end cars are typically found at auctions like Barrett-Jackson or Mecum, and are the very pinnacle of collectible cars. They are not for the enthusiast that who wants to enjoy a Saturday afternoon cruise, every Saturday. The value of a true low-mileage, high-end collectible musclecar depreciates significantly, every time that miles are added to the odometer. If you are looking for a car that can be driven and enjoyed, maybe you need to look at a lower-value sub-model — think Malibu instead of Super Sport.
If you have your heart set on a COPO car, but again, want to enjoy and drive the car, why not take a look at a tribute car. Let’s take, for example, a 1969 COPO Chevelle. At the 2015 Mecum auction in Indianapolis, a fully-restored, true COPO Chevelle sold for $125,000. This car is sure to be cherished, and for that price, the owner will want to make sure nothing happens to the car. This means that it will certainly not see much highway use, if any. What fun is that?
On the flip side, we found a tribute car that closely resembles every aspect of the COPO car, but is not a “true” COPO Chevelle. This car sold for $45,000, and the owner enjoys driving it. That is a huge disparity in cost, but while the tribute-car owner will undoubtedly have fun driving his car, the value is not as great as the “real” COPO car. When it comes time to sell, there is a better chance of the true COPO Chevelle retaining or increasing in value, while the tribute car might not.
Be An Informed Buyer
Check with all of the resources you can find on the type of car that you are looking for, but make sure that you are comparing apples to apples. – J.R. Smith, Just Toys Classic Cars
Where Is The Real Value
Now that you are considering the purchase of a musclecar, do your research. Once you decide what model car you’re planning to buy, look for comparable vehicles that have sold. You can do this through Internet searches. When you find five or six cars that are comparable to what you’re looking to buy, you now have an idea of what is a fair market value for a particular car so you don’t spend too much money.
Whatever you do, don’t use prices of vehicles that are found on online auction sites if the car hasn’t sold. If it hasn’t sold, maybe the owner is asking too much. To summarize, choose the car you want to buy, learn about the options available on that model, and then you can start to determine a manageable range you should spend. J.R. Smith of Just Toys Classic Cars in Orlando, Florida, tells us, “Check with all of the resources you can find on the type of car that you are looking for, but make sure that you are comparing apples to apples. With classic, antique, and musclecars, so many of these were custom ordered, so hardly any two are alike. Lastly, make sure to ask enough questions to make an educated decision.”
If you decide to buy a car as an investment, finding a rare car usually translates to the value of the vehicle eventually increasing. The fewer cars that were produced, the more valuable (and expensive) it will be. This rarity must also correlate to a desire to own the car. Just because someone only built 50 of something does not mean there is a high, or an even moderate demand for it. Again, do your research.
Another value-determining factor corresponds to how close the car is to its original condition. A car that is restored to OE specifications will generally command a premium price. But, just because the car owner says something is OE correct does not mean that it is. Once again, do your research. There is also a popular modification that many cars receive called “day two” upgrades. A day-two upgrade means that aftermarket parts that are vintage for the era of the car have been installed. A real 1969 COPO Chevelle with “correct, day-two” modifications (i.e. Anson slotted mags, Erson aluminum valve covers, and Jardine headers), might still retain its value — especially if the original parts that were removed are still available with the car.
Restoration Quality
Once you find a car, its condition plays a huge part in determining the value. Russell Jacobs of RJ Cars in Arkport, New York, told us, “My mentor, who taught me the body/paint trade, always told me, ‘buy something nice and make it nicer.’ I still tell potential clients the same thing today. It makes sense to buy a car that is already nice and not a complete rusted-out mess with missing parts to contend with.”
If the car you are looking at is in mint condition, it is going to bring in a lot more money than one that is in bad condition. But, what if it only looks the part of mint condition. There are unscrupulous sellers that will slap some body filler over any rust, paint the body, clean the suspension so it looks new, and do what it takes to get the most money they can for a less-than-good-quality car. We’ve heard stories of sellers filling a car’s differential with banana peels to quiet a noisy ring and pinion. It works, until a short time after the car leaves the lot and the new owner finds out the peels grind up, and the noise returns.
Buy something nice and make it nicer. – Russell Jacobs, RJ Cars
If the price seems fair, it’s time to go look at the car. The first thing we do when we arrive at the car’s location is to hear what the seller has to say about the car before we even look at it. This is a good way to learn the history of the car. Next, we try to find any rust that has been repaired either correctly, or incorrectly. If we find body filler, we actually have a tool that tells us how much filler is present. Next, check the fluids. Dirty oil can suggest neglect, but new oil could suggest that the owner takes care of the car or he is hiding something by changing the oil just before you came to look at the car. Make sure everything works, start the car and check the lights, accessories, and the steering. If there is an issue with the steering, you’ll feel it before you even drive the car.
Speaking of driving, if the owner is serious about selling, and you can prove that you’re serious about buying, there should be no problem with you taking the car for a test ride. Sure, the owner will probably want to ride along, but it is still their car. You’re not on a joyride, so turn the radio off so you can hear if there are any strange noises. Listen and feel how the engine and transmission work, and see how the brakes and steering feel.
When trying to place a value on the car’s overall condition, take the following into consideration: the condition of the body, the undercarriage/suspension, paint/body work, any trim it may have or is missing, condition of the glass, dashboard, seats, carpeting, engine, brakes, and the steering and transmission.
Your Next Project
There is no way we can discuss buying a musclecar, and not mention the project car. If you are thinking about purchasing a project, know your limitations. If you have to pay someone to rebuild the car, make sure you feel the cost is worth it. It doesn’t take long for the expense of restoration to outweigh the possible financial return. Don’t expect to do a ground up restoration by yourself if this is your first attempt, because you will get overwhelmed and disgusted.
Your first project car should probably be something that can be driven down the road. This gives you a car you can enjoy, and learn to repair between rides. The goal is to find a fun car for a reasonable price that you can enjoy and tinker on for as long as you want.
Get Advice
Anytime we go look at a car to buy, we take a friend with us. This friend is the level-headed person that reels us in when our emotions get the best of us, and we only see what we want to see about the car. It happens. Many times, having a friend with you can help you avoid buying a car that you should have walked away from. Smith agrees, “Emotion can be a lot of things, a lot of the auctions offer free drinks for a reason. It helps you let your guard down, and you bid more with emotion than logic. Be excited about what you want to buy, but don’t overdo it.”
Also, don’t be afraid to ask questions and/or get the advice of knowledgeable people. If you encounter a situation, or have a question about the car that you can’t answer, don’t hesitate to ask someone who knows. Unless the buyer is trying to hide something, they will not have an issue with that. If you are not comfortable inspecting the mechanical condition of the vehicle yourself, have it inspected by a mechanic that you trust. Jacobs agrees, “Find a qualified person to look the car over before making a purchase. Even if it costs you a few hundred dollars, it’s money well spent. I’ve seen this be an issue repeatedly over the years.”
If the seller shows you documentation verifying what he says about the car, but you still don’t understand it, ask if you can have someone you know look at the paperwork. Again, you might need to pay for a second opinion, but just consider it insurance against a potential mistake.
Stick To Your Guns
Buying a classic musclecar generally means that you’re spending a large amount of money, so it is best to establish a budget beforehand. Even if you have a large amount of disposable income, why pay too much for a vehicle. If you plan to finance your new-to-you musclecar, visit your bank before you start looking, to see how much you prequalify to borrow. Having a guaranteed amount of money is a good idea, because not only do most sellers expect prompt payment, but having cash in hand can sometimes be a good negotiating tool.
Conclusion
First-time buyers that are considering the purchase of a musclecar can acquire the car of their dreams. As with anything that is worthwhile, you just have to put forth some effort. Remember to do your research, follow good advice, and remain level-headed. Follow these simple guidelines, and the satisfaction of successfully completing the acquisition of your first musclecar will only be matched by the thrill of your first smoky burnout.