Debunking 9 Myths About Owning a Classic Car

When it comes to classic cars, there are a lot of misconceptions out there from people who aren’t experts or do not know much about vehicles. Below, we debunk some of the most common myths that persist about owning a classic car and why you should ignore them.

“Buying a Classic Car is a Bad Investment”

There’s a stigma around vehicles as investments, whether old or new—and for sensible reasons. Anyone can tell you that the second you drive a new car off the lot for the first time, its value takes a nosedive and only goes down the more you drive it.

But a classic car isn’t like a brand-new vehicle—it’s closer to investing in a collectible than a mode of transportation. Not every classic will be a great investment, but if you’re careful with your selection, take quality care of the vehicle, and even make some notable improvements, you could profit after a few years of ownership.

“You Have To Be Rich To Own a Classic Car”

Another myth we’d like to debunk is that you must be rich to own and maintain a classic car. While it’s true that some vintage vehicles can be worth more than a house, that doesn’t mean every classic comes with a huge price tag.

Many classic cars are surprisingly affordable and cost less than a typical new car you’d find at a dealership. The maintenance expenses are more about the owner’s effort—regular inspections, frequent cleanings, and always taking it in for service on schedule. It may take more effort than a standard car, but if you can afford a second car, you can accord a classic vehicle.

“Only Ancient Cars Are Collectible”

Classic cars are collectible, but many think that only exceptionally old vehicles are worth collecting. A classic car doesn’t have to be ancient—it doesn’t even have to be from the 20^th century!

Officially, states differ on what is legally considered a classic car; in some states, it’s 25 years, while in others, it’s only 10. But there are plenty of classic cars that are only a decade or so old that are sought-after by collectors and make for an excellent investment.

“Restored Cars Are More Valuable”

Significant classic car restorations are always eye-catching and can generate a lot of interest in a car. We’ve all been wowed by looking at before and after photos of a vehicle and marveling at the transformation, but that doesn’t mean restored classics are always worth more.

While restored vintage cars were highly valued for decades, there’s been more of a trend in recent years to look for vehicles that are as close to their original production as possible. So while a restored car may look incredible to your eyes, it may not hold its value down the line. Additionally, you may be able to find a more affordable car closer to its original form for a better investment.

“Rare Cars Are Always More Valuable”

As with any collectible, rarity plays a significant role in determining its value—we’re all familiar with the market concepts of supply and demand. But just because you have your hands on an exceptionally rare vehicle doesn’t mean it will be worth much money.

Condition and restoration are key factors in a classic car’s value, but a rare car will likely diminish the number of potential buyers. After all, the dream cars we grew up wanting weren’t the rarest ones—they were the ones we saw in movies, television, and magazines. Rarity is a factor, but it’s far from the only factor determining a classic car’s value.

“Classic Car Insurance Is Expensive”

Vintage cars require a specific insurance policy since they’re not everyday vehicles and are typically older and more fragile. The more value your classic car is appraised at, the more expensive it will be.

But you shouldn’t assume that your car insurance will be exceptionally more expensive than the standard insurance you pay for your everyday car. As we mentioned, many classic cars are even more affordable than new, modern vehicles. Also, as they’re a secondary means of transportation, there’s even less risk for insurance providers.

“Spare Parts for Classic Cars Are Impossible To Find”

One of the biggest worries for classic and new car owners is finding parts for a vehicle that’s been out of production for decades. While parts for older vehicles are still tougher to find than a new car, it’s far from impossible.

Thanks to the internet, many more resources are at a classic car owner’s disposal to find rare parts for out-of-production classic cars. Often, the best method for finding a spare part for an older vehicle is to research eBay or Facebook Marketplace, as other or former car owners may have spare parts they’re willing to sell. Even classic car forums and clubs are useful resources for connecting classic car owners and spare parts sellers.

“The Fewer Miles on a Classic, the Better”

What’s probably the first thing you ask about a classic car if you want to buy it? Almost always, it’s the mileage. The mileage is a significant factor in determining the condition and value of a vehicle, but it’s not the end-all or be-all.

While fewer miles on a classic car can be a good sign, don’t forget that cars are machines that are meant to be driven—and if they aren’t, problems can arise. Especially for much older cars, it’s a good sign if a vehicle has many miles on it but still runs well and has been maintained properly, as that shows it’s reliable. If a car is decades old and barely driven, it’s more likely to accumulate performance problems.

“You Shouldn’t Drive a Classic Car in Winter”

One last myth we want to discredit is that classic cars shouldn’t be driven during the winter season. The freezing temperatures, snow, ice, and road salt of driving are challenging for old cars, but there’s no harm in occasionally taking it for a spin.

In fact, it’s often recommended that classic car owners who store their vehicle during the winter take it out for a ride every couple of weeks to keep it in shape and the machine running smoothly. Maintaining a classic in the winter takes a little more effort, but it can still operate in cold temperatures.

Pro Tip: When not using your classic car for long periods, disconnect the battery and attach it to a battery tender, so it doesn’t die in storage.

If you’re ready to add a classic car to your garage, Ideal Classic Cars has all kinds of custom vintage cars for sale! Stop by our showroom, browse our stock online, or contact our helpful staff with any questions about our classic cars.