The time to do your homework is before you buy a car. Not afterwards, when you discover that the classic car was not as represented. Over the years I have bought and sold quite a few cars, and before the internet research a car was nearly impossible; sometimes it was sheer luck that the classic car was as advertised. The frustrating part is that there is so much public information available online that many of these problems could have been avoided with a simple internet online research. Nowadays you can do your diligence not only on the vehicle, but on the seller as well.
Start with the vehicle. Often, it is as simple as putting the classic car’s VIN (Vehicle Identification Number) into your search box and pressing ENTER. I cannot tell you how many times I have done this and found six or more advertisements going back many years for the same exact car. The interesting part is that the descriptions in the advertisements will range from “Lots of Rust. Needs complete restoration” to “Rust free. Excellent daily driver.”
Of course, the classic car could have been restored between the time the first ad ran and the time the last ad ran. Or perhaps not. But it is certainly a red flag.
Another piece of information that will often pop up in a “VIN search” is an auction history, should there be one. Now, it is no big deal to find out that the 1968 “Big Block” Chevelle that you just purchased half-way across the country was sold six months prior at a major classic car auction. But it is a big deal to find out that it was included in a large block of Hurricane Sandy “flood cars” that were liquidated (no pun intended) by the insurance companies in an online auction. If you think this is a rare occurrence, think again. Apparently, the temptation to make a few quick bucks is too tempting for some people to pass up.
The cars’ VIN is the easiest way to look for valuable information. But often you must dig a little deeper. A search of the major internet web sites and publications that specialize in classic car sales will often turn up information about the specific car that you are considering purchasing.
Due diligence with online research can also be done on the seller of the vehicle…hopefully before you buy the car. This is your chance to play detective. Do an internet search of the sellers’ name. If it is a common name, narrow the search results by putting in the sellers’ state, or town. I even combine the sellers’ name with the car they are selling, such as “Jones 1955 Chevrolet Belair.” Or “Smith Classic Car.” Bad news travels fast, especially on the internet, so try terms such as “Jones Classic Car Complaints.”
The truth of the matter is that once you have bought and taken delivery of a collector car, you have extraordinarily little recourse against the seller. Unless it is a clear case of fraud, and the dollar value is high enough, most district attorneys are far too busy to clean up your mess by going after the seller criminally. That leaves you the option of filing a civil suit against the seller.
You will most likely have to bring suit in the jurisdiction where the seller resides. Most Small Claims Courts have limits ranging from $1000 to $5000, so if your damages are significantly more than that, and they usually are, you will need an attorney. That will usually cost you about $3000 just to get started, and it will go up quickly as they do work and make appearances on your behalf.
The internet has made it extremely easy to do your homework. There are no guarantees that it will eliminate all your potential problems, but if it saves you from making one mistake, it is well worth the time invested. And if you are one of those people who “Doesn’t like using computers,” hire a 10-year-old and let them do it for you.
Be safe and happy instead of sorry for your classic car purchase with a bit of online research on the classic car you want..
