December 21, 2007, Newsletter Issue #117: Classic Car Auctions

Tip of the Week

There are plenty of car auctions that target classic cars. In fact, it is the largest subgroup within the car auction market. However, buying classic cars can be a little more risky, as these cars' increased age can lead to problems with maintenance and past damages. Luckily, classic cars are well covered by industry publications. With some very basic research and a Carfax report, it is pretty easy to gauge the approximate price of the car. That being said, owning a classic car is not for auto amateurs. While you may be tempted to buy a classic automobile to satisfy your car phantasy, remember that classic cars require a lot of care and maintenance. If you're not careful, the savings that you realize through a car auction can quickly be negated by maintenance and repair costs.

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