No matter how many new technologies are introduced into cars nowadays, for some of us, a car should be one of those old-glory, roaring beasts that only you can control. You dream of owning one day, Alfa Romeo Spider, a 1971 Corvette Stingray or Porsche 911 G, or any of those old beauties from the 30s and 40s. Or maybe you want to expand your existing car collection.
Let’s say that you’ve saved enough money and decided to take this step. You even found a model that will be your future best friend on the road. What should you know before buying such vintage car? Is this a genuine original or a cheap copy? How can you verify the general condition of the car mechanics? To protect yourself from any frauds, you should seek professional legal advice. A lawyer can help you close a buyer’s contract to your benefit, and advise you in situations like car damage, theft or accidents. Read on to find out why do you need a lawyer to buy a collector’s car.
First of all, your lawyer should confirm the identity of the current car owner. It sounds obvious, but think about it: would you buy a house just by handing over the money to the first person who opened the door? This is extremely important when it comes to buying a classic car. It might have been stolen or borrowed from an acquaintance or still belong to a leasing company. You love vintage cars because they carry an aura of mystery around them, and yet again, this sweet mystery shouldn’t turn into a bitter nightmare. Verify everything. Because these cars are so rare, it is most likely, you’ll buy one from a foreign country. A lawyer can counsel you on all issues surrounding import, registration and taxation.
Naturally, a classic collector’s car is very rare and difficult to buy. Who knows how many other enamored car enthusiasts have their eyes on your Ford Boss 302 Mustang or Triumph Spitfire? Beat the competition and get to the finish line first with a little help from your legal team. An important issue is the money transfer. It needs to go as smoothly and quickly as possible. Vintage cars are expensive and you can’t just hand over a bag full of money to your seller. Lawyers will make sure that the trade contract is a success for both parties.
After you’ve driven your new four-wheeler safely home, you’ll be worried what happens tomorrow and the day after that. A machine that valuable and beautiful is more likely to be stolen or damaged. Even a small component, like smashed back lights, can cost you hundreds or thousands of dollars because it is near to impossible to find the right original parts. Car accidents do happen; you might be an experienced driver, but you can’t vouch for all other participants in traffic. For a passionate vintage car enthusiast like you, it is best if you protect your beloved collector’s car by hiring a legal team, like professionals from Adams & Co, who will help you around any motor accident claims and requests for expense coverage.
Even if you’re an experienced collector or a car tradesman, you need to be careful about entering contracts that can put you in a disadvantaged position. The person selling the car will praise it as the best car ever built in the history of automobiles, but we all know that they’ll be exaggerating. What your lawyer can do, is put everything in writing and make a binding contract. Your seller swears that wore-down parts are replaced with original ones, and that the engine is reconditioned. If this turns out to be false, you can always report a breach of contract. If you’re the one selling a classic car, avoid any future disputes and make no unsubstantiated claims about the car history or the condition of the car.