It’s good to know that there’s an updated set of guidelines and price ranges that will help you come up with the right price for your classic car. The National Automobile Dealer Association or NADA is not just one of the most sought-after guides for utility vehicles, trucks, watercrafts, and commercial cars, but it also caters to those who are in need of pricing for classic cars.
NADA offers car values for the classics from those that are manufactured in 1895 up to the present. But just because NADA is quite a popular source for pricing cars, it doesn’t mean that you should rely on it since there are other similar sources that are equally updated and reliable as well.
Log on to the NADA websites for a start and navigate to the Classic Car Values page to start your ordeal. Click on ‘special interest cars’ or ‘collectible cars’ from the menu. Afterwards, choose your car’s manufacturer and year.
You will then be navigated to a page where there are various models and car make. Feel free to from the long line of models. Afterwards, choose all your equipment. If you are uncertain about some of the features, make sure to consult your mechanic and ask him if these features can add to or diminish the value of your car.
Choose ‘Get Used Value’ so you’ll know your car’s actual worth. You will be directed to three different values. These are the low rates, average, and high retail values.
To get this, log on to the Barret-Jackson website. Input the model and make of your car, and, of course, the year. Fill in the upper left-hand side of the homepage. Afterwards, click the search icon. This is near the model box. As soon as you are navigated to another page, scroll through it and take a good look at the car descriptions and the pictures that accompany them. Decide on your comparable model, and just click it. You will then be navigated to another site that displays all the specifications, check to see that the vehicle corresponds to the description. Otherwise, refresh the page to correct errors.
If you have not found anything you want, then you can go back to the previous page and look further for your model of choice. After you’ve found your gem, check the corresponding appraisal value against its auction value. It’s a good thing you can compare your car’s condition with a similar model that’s put up for auction. Read the corresponding description of the vehicle which was sold at an auction in the website so you could see if your own car is worth less or more.
How car condition affects pricing
Pricing classic cars depend on several factors. It doesn’t always mean that if a car is ancient, it’s automatically expensive. And it also doesn’t mean that if a car has less mileage, it has a higher value. Bear in mind that cars manufactured in 1880-1916 are considered antique. Vintage cars were manufactured from 1917-1924. After 1924 until the present, cars are considered classic. In the United States, cars are deemed classic if they are 15 years old and up. Condition considered more important than less mileage. This aspect plays a big role in car pricing. But bear in mind that mileage can be gauged, adjusted. So you have to find a way to validate low-mileage readings. You can’t always trust that an odometer is accurate especially with older classic cars.
When you have so many choices in your hands, chances are, you’ll also have to deal with different values. Each value is based on each choice and the geographic location of the car. For instance, if you own a right-hand drive car and it’s in England right now, it has a higher value compared to a left-hand drive. Opposite terms apply to cars in the United States. If a car has custom features, these can make or break the good price that you have first established for it, since there are customers who prefer original parts and features.
So in general, the overall condition of the classic car mostly dictates its market price. When you attend car shows, you’ll observe four types of car conditions. These are Fair, Good, Excellent, and Show. Here are indications for the said condition categories:
Show – this type of car is not driven anywhere, but it is hauled into a trailer and used for display in car shows. They are usually highly preserved classic or vintage cars, and they undergo various high-end restoration processes. An organization certifies that a car is just for show if it rates 96-100% of the system’s quality range.
Excellent – if a car is completely functional but it is rarely driven and underwent extensive restorations, then it’s deemed excellent. These cars score from 90-95% in car shows for the classics. They are well-maintained over time. They are usually original classics that are restored and maintained in good condition.
Fair/Good – This is the lowest classic car condition. They still run well, and all the major parts are intact. You can buy this one if you’re in the market for restoring a secondhand car and selling it again for a higher value. They may look a little rough around the edges because of age, but nevertheless, they only require a small amount of body work. To accurately check the prices of classic cars, go to the Gold Books or NADA guide for cars. This reference will give you a head start on how much to price or pay for a classic.