Would buying a classic car be expensive

Question

I'm planning on purchasing a 57 Caddy. I know the MPG is low but I also know the car insurance would usually be cheaper with these cars plus I took drivers ed. Would the cheaper insrance make up for the low MPG? Sources?

Answer 1

We've owned 2 '57 Cadillacs.

If you buy one that has been restored a number of years ago, then the price will not be out of the ball park.

If this is going to be a primary driver and you have few years behind the wheel, it could be expensive insurance wise.

If this car is going to be insured under classic insurance, it's going to be cheap.  Like $150.00 for one year.

Regular insurance, ie State Farm will insure the car as a regular driver.

The fuel mileage for city is about 8-10 mpg.  Highway mileage is about 14-16 mpg.

These cars need high octane gas (93) or they will ping.

I assume you drove your potential car and understand their driving characteristics.  

Drive the car more, you get used to it and drive accordingly.

Parts are not hard to find for this year Cadillac, so don't let anyone tell you otherwise.

Take care of the car like a friend, it will return the favor with many years of hassle free driving.

Answer 2

Yes these cars are expensive due to the fact that there are not a lot of them around,, specially if its in mint condition and well kept.

Answer 3

More expensive.  Classic cars tend to have hard to find parts which means they cost more.  They are also less reliable because its 51 years old.

Everybody took drivers ed.  It doesn't make you a good driver.

Answer 4

Nothing will make up for what it will cost you to keep it maintained.  Those are hobby cars for the wealthy.

Answer 5

Actually, the insurance would probably be more expensive due to the age and replacement cost. Look for a car in the '80s. They are cheap to buy and insure. Also, with an antique car, the insurance companies won't let you drive it every day.  

Answer 6

the car would be rather expensive

Answer 7

Maintaining a 1957 Caddy isn't that expensive. (as long as you're not trying to restore one) The parts can be found and the mechanical design is so simple anyone can work on it. Gas would be your biggest expense. Insurance is cheap because it isn't worth it to have collision on a daily driver like this. All you really need is liability. The other downside to this type of car is the braking, handling, and safety features are nothing like modern cars.  

Answer 8

god no dont do it..... parts are hard to find...unless ur a mechanic labour is 80 an hour or more,,,tires cost more...its hard to park...and are u sure ins is less...have u actually priced it????? and dont think ur gona get more than 10 to 14 mpg...tops.

Answer 9

Well...that really depends how often you'll be driving it.

In the long run you're going to end up paying more for gas than you saved on insurance.

Answer 10

Nope. Buying the car is expensive.

It will always break down and the maintenance and repair costs will be high.

Drivers ed does lower the insurance cost, but barely. Maybe 5 percent lower.

Answer 11

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Answer 12

You can't get the cheap classic car insurance if you drive more than a few thousand miles per year. That's for antiques and show cars. Besides, you can't expect a '57 caddy to be a reliable daily driver.