new york classic cars for sale - craigslist (2024)

FAQs

How old does a car have to be to be considered a classic in New York? ›

Candace Baker, Car Insurance Writer

A car is considered a classic in New York if it's at least 25 years old and is owned solely as a collector's item. When a vehicle in New York meets these requirements, the owner can register it as a historic vehicle, which will limit the car's use.

As our experts suggested, this is more of a return to normal than it is an implosion of classic car values. The current non-inflation adjusted median sale price is $30,450, a significant drop from its high of $34,560 in October 2022, but it's really just a reset to October 2020 levels.

Every gasoline vehicle between 2 and 25 years old with a MGW (Maximum Gross Weight) under 10k lbs must pass an Emissions Inspection every year. NY's emissions inspection is quite predictable. Great news if you have a diesel, electric, brand new, or classic vehicle: you don't need this!

Classic car insurance is usually much cheaper than regular car insurance. According to Baily Insurance Agency, a classic car policy costs around $200 to $600 annually. If you own an abnormally expensive vehicle, your rates may be higher. In contrast, regular car insurance usually costs over $1000 per year.

A vintage car is one that was manufactured between 1919 and 1930. An antique car is any car manufactured in 1975 or earlier (older than 45 years old). The classic car is a vehicle manufactured in the 1990s or earlier (at least 20 years old).

The most significant con is the maintenance of classic cars. The cost of maintaining an old-timer, including insurance and maintenance, can be up to 20 percent of the classic car's value. Spare parts or even simple consumables may be really difficult to buy in auto parts stores, so you have to 'hunt' for them.

If you're wondering the best price to start your negotiations at, go in 20-25% below the asking price. A good classic car dealer will usually conduct an inspection before they sell it on. What's more, a dealer who has confidence in the car's condition will not object to any form of in-depth inspection.

Key Takeaways. For the automotive enthusiast, one way to diversify an investment portfolio is to start collecting classic cars. Most cars lose value immediately after they are driven off of the dealer lot, but classic cars gain in value over time, due to rarity, performance, or special attributes.

What increases the value of a classic car? ›

Repairs & Restoration

So, the most effective way to increase the value of your classic car is to restore the vehicle and repair broken or rusted parts and mechanical components.

For instance, it is almost guaranteed that you will not get the money you put into a classic car back out of it if you plan on doing a full restoration. That's still not to say there isn't a way to make a buck or two. A lot of people have made good money buying and selling classic cars over the past few decades.

Hagerty data show that in today's always-on classic car market, pretty much any time is a good time to sell. The in-person auctions, no surprise, remain seasonal, largely because so many of them happen in January. But online auctions are a steady drip all year long.