Classic Cars - A Guide to Buying at Online Auctions

Buying a Classic Car requires thought,research and some planning.

Where to look for your classic car.

Look in the your local newspaper and Classic Car magazines.The easiest place to look is on the Internet.

Go to http://www.classic-lots.co.uk and you will find thousands of classic cars for sale. This excellent site also includes all the classic cars available on Ebay.

Once you have identified the car that you want, read between the lines and look at the background of the pictures.

Ask yourself four questions. Why do I want the car? How much can I really afford? How far do I want to travel to view or collect it? and then the most important question of all ... Do I really know enough to commit X thousands of pounds on this car ?

Remember if you are the highest bidder (assuming if there is a reserve that it has been met ) and you win the auction then you have entered a legal contract to buy that vehicle (providing the seller has described the vehicle correctly).
Do not expect to go to collect the car and having viewed it to be able to haggle over the price or to walk away. If at all possible always view the car in person before you place your bids.

Viewing the car

Take a walk around the car and look for the tell tale signs of sagging which could indicate suspension problems or perhaps chassis problems. Do the doors and panels line up correctly, another indication of chassis problems or perhaps the car has had a bump at some time. Is it even one car or was it once two? Any repairs? Have they been completed well or have the repairs been bodged? Do the tyres match? What condition are they in? Check for rot in the body. Check the areas which are most prone to rot ie. arches, sills, doors, boot and bonnet.

Check inside the car. Windows, front and rear screen, are any of them leaking? Is the headlining damaged or dirty? Lift the carpets where you can, check for water and any rot, maybe even holes in the floor? Check the floorpan and joints, don't forget inside the boot, the floor and spare wheel area. If you are happy so far with the body etc. try the engine. Will the engine start from cold? If the engine is already warm perhaps the seller is trying to hide something, maybe cold starting problems, maybe he had to get a jump start or a tow just to get it going? Listen for any knocks, look for smoke. If you see blue smoke on startup that quickly clears it could mean the valves are tired and leaking oil into the combustion chambers. If the smoke does not clear that could indicate a very tired engine, something that will have to be added to the budget.
Clouds of steam on startup could indicate a blown head gasket or even a cracked cylinder head. Remove the radiator cap and look for "goo". It is cross contamination and a good giveaway of cylinder head problems. Black smoke, probably just an over rich mixture but could just as easily be a worn carburetter.

Knocking. Well, it could be for a number of reasons, light tapping on the top of the engine could be a worn camshaft or a small end on its way out. Knocking from underneath could be a big end bearing breathing its last. An expensive repair. A rumbling noise could be a main crank shaft bearing on its way out, yet another expensive repair. Check the various hydraulic fluids and water levels. Look for any stains around the compartment and on the engine. Does the radiator smell of anti-freeze? Is there any oil lying around? Not a good sign. Keep the engine running for a while, some problems won't show up until the engine is warm. If the car is driveable, take it for a spin. How does it "feel" on the road, does it "pull" to the right or left? Is the clutch "spongy" or firm? Does braking throw the car into oncoming traffic? Wiggle the steering wheel, any clunks?

Check the paper work. Check the logbook, a very good place to start and don't be fobbed of with "We have just moved house and can't find it at the moment, I will post it on to you..". Never buy a vehicle without a logbook unless you know exactly what you are doing. It is also useful to have any old MOT certificates and any receipts. 
 
Valuing classic cars

Be realistic! Just because you can isn't a good enough reason to buy a chassis of a 1926 Rolls Royce if you have no idea where to get the rest of the car and no idea of what to do with the parts if you can get them.

If you read the magazines, talk to the owners club and browsed the Internet you will get a good idea of what your aimed for car is selling for.

The basic rules for Internet Auctions

Identify what you want - and how much you want to pay. Set a budget. Use classic car magazine price guides and real adverts to see what your classic will cost to buy. Calculate running costs by looking at mpg figures. Get insurance quotes.
Join the owners club. A full list of club contacts can be found on http://www.classic-lots.co.uk

Buy some books,read magazines. Research on the Internet and visit Classic Car Shows.

Check the sellers location - are you prepared to travel to inspect and then collect the car if you win the auction.

Check out the seller. Read all the feedback,negative feedback should ring alarm bells.

If a vehicle has less than 3 months MOT ask the seller if they would be willing to send the car for a fresh MOT.
In the event of a car being sold as an MOT failure, ask the seller to specify the list of failures, then give your local garage a ring and ask them to give you a quote for the work.

Keep copies of all emails sent and received between you and the seller. they will come in handy if a dispute or conflict arises.

Check if the seller is a private individual or a dealer. If the seller is a trader passing themselves off as a private seller and they are willing to lie about their status what else are they willing to lie about!!

If the vehicle is being sold by a private seller, ask them how long they owned the vehicle for? is the logbook registered in their name and at their home address? If it is a genuine private sale, then the answers to the above questions should be yes!

Remember it is a Legal Requirement to register a vehicle in your name regardless of how long you intend on keeping the car.
 
A reputable trader should and will disclose the fact that they are a trader,remember if you buy through the trade they may have certain obligations to rectify any problems with the car.

In the event that you have bought the car without prior inspection, before you go to collect the car, print out the item page and take it with you. If the seller has mis- described the item in anyway, you will have proof in your hands to argue your case.

If buying from a private seller, always meet the seller at their home address which should match the address the car is registered at.

Once you have handed your money over, you will not be able to get it back! If you have not viewed the car do not pay prior to collection, if you do you will have little choice but to take the car away or lose all your money.
What's the worst that can happen if you walk away? the seller will give you negative feedback. its better to have one negative feedback than a car which is going to cause you lots of problems and cost you time and money.

As a winning bidder you have a legal obligation to complete the transaction,however the seller has a greater obligation to be honest about themselves and the item they are selling. If the seller has misdescribed the vehicle and you do not complete the transaction they are very unlikely to take legal action against you for not completing the deal. Remember however if you simply change your mind and walk away without good reason the seller may take steps to recover the money from you.

The basic rules apply even if you are buying from a trader or private seller if something sounds to good to be true then it usually is !!!

The full version of this article can be found on http://www.classic-lots.co.uk