Tuesday, August 21, 2007

6 Ways to Make the Most of your Classic Corvette Purchase

Terry Michaelis of Proteam Corvette fame has a great article on his Corvette Perspective blog on why purchasing a classic Corvette is a good investment and he backs up his points with some real world numbers. Terry has bought more classic Corvettes last month than most of us will purchase in a lifetime and there is probably no other dealer that buys and sells the cream of the crop like Proteam. If you are more interested in Corvettes as an investment as opposed to a driver, then here are Terry's points to consider when purchasing a Corvette:
1. Buy the best Corvette you can afford todayBecause the Corvette you buy is the Corvette you’ll have or want to sell some day.
2. Buy cosmetics Buy paint and chrome, unless you have a shop and knowledge to control your costs.
3. Research Arm yourself with knowledge provided in the numerous Corvette publication and hire a true expert to examine your potential purchase.
4. Don’t trade off cosmetics for a numbers match drivetrainIt will always cost more to restore (paint, trim, chrome, etc.) a Corvette needing restoration versus putting the proper numbers motor back in your vehicle, if that’s your venue. Numbers have become secondary to cosmetics, and it’s about time.
5. Realize that Corvettes are old carsThey require more attention than that new Chevy or Ford setting in your driveway (especially if they aren’t taken for periodic ("work outs").
6. Be a smart sellerHigh-profile events like the Barrett-Jackson and Mecum Muscle Car auctions will get you more money for your car than newspaper and trade publication advertisements. Plan ahead if you’re considering selling your baby: seek good lot numbers (pay a premium if you must) and baby-sit your car during the event to answer questions and show pride in your car – it is a reflection of you, and people simply pay more if they like the seller.
Terry provides an excellent analysis of today's Corvette Market and why the demand for classic Corvettes is so high right now - a demand he says will only continue as baby boomers hit retirement and start spending that discretionary income.
Click here to read The Corvette Market - Today.
Source:TMichaelis Corvette Perspective

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