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| How to Buy a Hot Rod Buying a hot rod can be a little trickier than buying other classic and collector cars, you just have to know what you want and what to look for. You don't have to be an expert in auto appraisals to figure out the ballpark value of a classic car, there are many price guides and other data out there to determine that. A hot rod can be more of a challenge to determine the real value of it, so it may just come down to what you really want in your hot rod. Determining the value of the hot rod you want to purchase will be important for a few reasons. The first reason of course is so you don't get ripped off. The hot rod may look cool, but does it have the high quality parts, body work, and paint job to really warrant that price tag? Secondly, if you are going to finance the purchase of the hot rod through a lender, they will likely require the value of the vehicle also. They do not want to lend an amount more than the car is worth in case of a loss. You will likely need to have the hot rod go through a credited appraisal service, one the financial lender suggests. With this in mind, you may want to apply for and secure a loan before you start your serious shopping, so you will know what appraisal services you should use. Generally you have 30 to 60 days to find the collector car you want after the loan is secured. The seller of the hot rod will likely have kept receipts and labor costs that have gone into building or maintaining the hot rod, so don't forget to ask about that. Keeping receipts proves the value of the car. Don't forget any extra costs you may find with the purchase of a hot rod, which you may want to roll into the loan. The appraisal may be a few hundred dollars, and if you buy the hot rod somewhere not local to you, there may be travel and shipping costs involved with the purchase. You may want to view the car yourself before purchasing it, which may require airfare and hotel costs. Transportation will also be required, if you do not want to drive your hot rod back (Which is highly discouraged due to insurance reasons). If you are mechanically inclined but lack the details of body work and paint jobs, rat rods are a new fad of hot rods you may want to look into. generally these cars are cheaper, and you can probably build one yourself with an old beater. A rot rod is basically an old car that looks like a hot rod, but is usually painted in primer or rusted out. It is designed to look old and beatup, something that is built with parts found from the junkyard and the neighbors garage. This can be a fun way to get into the hot rod scene without spending a lot of money, before deciding if you really want to buy or build that dream hot rod. Hot Rods for Sale Hot Rod Insurance | |
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Latest page update: made by timelesshotrods
, Apr 13 2010, 5:08 PM EDT
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