Do you own a classic car, or are you looking to buy a classic? If your answer to either (or both) of these questions is yes, then surely the next thing you'll wonder about is the price. There's no doubt that most cars that are not of the modern age are often labeled as classics.
However, many have figured time and time again that just because your car or the car you want to buy was manufactured a couple of years ago, it might not be as valuable as you think. If you are looking to properly value your car, then you must contact a verified classic valuer, meaning someone who is certified to do so.
To really determine if your car is a classic car, there are a couple of criteria it needs to meet. These criteria will determine if it is a classic car, an antique car, or a vintage car.
Focusing on classic cars, let's look at a simple and brief guide to NADA Classic Car Values.
National Automobile Dealers Association (NADA)
The National Automobile Dealers Association is an American trade association owned by J.D. Power. This trade organization was founded in 1917 and made its debut online in 2000. It has since gone to represent over 16,500 foreign and domestic car dealerships.
Since the organization was founded, it has gone on to become a comprehensive and trusted source. NADA provides tools that can quickly estimate the value of your car. This is based on their low retail, average retail, and high retail system.
Here's What NADA Offer For Classic Car Values
If you are looking to get your classic ride valued by NADA, there are a couple of things you need to know. These can, however, be answered by any NADA representative. But let us have a quick look at some must knows.
For starters, NADA does not cover classic cars that are non-operational. Restoring a classic car can prove to be difficult because finding parts and the right mechanic for the job is pretty tasking.
This means that even after restoration, your car might still not be deemed a classic; if you happened to change major parts like the engine and replaced it with a modern one. It should be noted that NADA does not value car parts, and this would be needed to value a classic in need of restoration.
Another thing to note is NADA does not determine whether your car is a classic or not. They take value for any car that was manufactured anywhere between 1926 to today. If you are looking to determine if your car is a classic, or not then you can check out Classic Car Club of America for their definitions.
All cars valued by NADA can receive extra services at an extra cost that includes insurance and financing if you are looking to purchase. If you wish to determine the value of your car, then DADA highly suggests that you get a certified appraisal from a certified licensed appraiser if you wish to get the actual cash value of the car.