Every car enthusiast dreams about having their own personal car collection. And not your everyday Fiesta, Astra or Polo collection, but the sleeker, faster, classic or vintage cars that make people stare when you see them on the road.
If you have the means, then starting a car collection shouldn’t be too much trouble. And if it’s a passion of yours, you’re going to love every moment of it. But there is a right way to go about starting your own car collection and some tips to follow if this is, in fact, something you want to do.
Let’s talk purpose
The first thing you need to clarify before taking any permanent steps is to state your purpose. Why do you want to start a car collection? Is it a hobby? Are you thinking about it as an investment? Is it for a side business (and hobby)? For example, some people choose to open car museums to display their collection and bring in a bit of extra money on the side. Or is it just because you really love cars?
You need to have a motivating reason to start a car collection. It’s going to take a lot of your time, patience and money to do this, so you need to be sure it’s something you’re mentally and financially prepared to maintain.
What are you looking for
This is the fun part: deciding on which type of cars you’re looking for to start your collection. You might already have a personal preference in car makes and model, but you can also decide to collect a variety of makes of a certain type of car.
For example, it’s become popular to collect and display classic and vintage vehicles. And also to display them along a timeline to appreciate the development of car technology and manufacturing over a surprisingly short period of time. And the other popular car collections are that of sports cars and luxury lifestyle vehicles. Four Jaguars parked in your driveway would be a great way to come home every day, don’t you think?
The type of cars you choose to collect ties in with the reason why you want to collect cars. If they’re only there for show, vintage cars are better suited to the trophy life. But if you want to actually use the cars or hire them out, then you’ll need something more reliable on the road.
Be aware of the costs
You need to do the cost calculations beforehand because it’s going to be an expensive venture and you need to make sure you can budget for all it. You’re not only going to be looking for finance for the cars, but you’re going to need to include insurance costs for each of them (yes, even for the ones you don’t plan on driving), maintenance costs to ensure they stay in great working order and condition (again, even for the ones you won’t be driving regularly, if at all), and you’ll need to find the money for a storage location.
Starting your collection at home is fine, but as it grows, you’re going to need more space. And it would be a shame not to have your collection on display, so you’d have to find an accessible and relatively large “play” area for your cars. Your options would be to hire or buy a lot, garage or barn to which you’ll need to add maintenance cost to that as well. Don’t kid yourself, car collecting is an expensive business.
Attend car auctions
It’s easy, then, to see that cars aren’t necessarily the most expensive aspect of this hobby. Especially when you consider attending and buying your cars from various car auctions in Gauteng. This is where the time and patience comes in. Your first step is to take a car payment calculator and secure vehicle financing before you attend the auction, and then you need to wait to find the perfect car on auction to go towards your collection.
Car auctions are unpredictable and there’s always something different on offer, which is why it’s worth a visit as a car collector. Cars are also more affordable via an auction, but they may also come with hidden problems. It’s a bit of a gamble but, again, it’s something you need to weigh up against the purpose of your collection, the types of cars you’re looking for and the budget for your collection venture.
Make sure you’re aware of car auction etiquette and are prepared to go up against other car collectors in Gauteng. If you see a car on the programme, make sure you’re there when it goes on auction and in the game to get what you came for.