detroit metro classic cars for sale - craigslist (2024)

FAQs

What is the most sought after classic vehicle? ›

The best way to get started flipping classic cars is to look at the trade websites like Hemmings, Dyler and ClassicCars.com. Work your way backward by looking for vehicles that have already been restored and comparing the work performed against the seller's price.

The full language reads: Sec. 20a. “Historic vehicle” means a vehicle that is over 25 years old and that is owned solely as a collector's item and for participation in club activities, exhibitions, tours, parades, and similar uses, including mechanical testing, but is not used for general transportation.

Popular Collectible Cars

Many classic cars from the 1950s and 1960s, such as the Shelby Mustang, Chevrolet Corvette, and Porsche 356, are sought after by collectors. These cars tend to be some of the most expensive on the market due to their rarity and popularity.

A lot of people have made good money buying and selling classic cars over the past few decades. A common way to make money can actually take years to accomplish.

Vehicles that are tall and narrow are more susceptible to a rollover due to a higher center of gravity, which puts vehicles such as SUVs, pickup trucks, and vans at greater risk of a rollover crash.

To qualify for a historical or authentic license plate, vehicle must be: • 26 or more years old -- based on vehicle model year subtracted from current calendar year • Owned solely as a collector's item • Used only for events such as historical club activities, parades, and car shows.

Are classic cars cheaper to insure? ›

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.

For instance, if you purchase a vintage car that has 50,000 miles and you end up adding 25,000 before reselling, that will likely significantly reduce its value. On the other hand, if you purchase a classic car with high mileage, adding more miles won't impact its value nearly as much.

1963 Ferrari 250 GTO ($70M)

This ride is an undeniable collectible that became the most expensive classic car in the world when it was sold to WeatherTech founder David MacNeil for $70 million in 2018, which was $62 more than the '62 Ferrari 250 GT SWB sold in 2022 and $42 more than the S N.A.R.T.