detroit metro classic cars for sale - craigslist (2024)

FAQs

What is the most sought after classic vehicle? ›

For insurance and registration purposes, the age of a classic car, in most cases, is at least 20 years old but not more than 40 years old. If you are going to register it (and insure it) as a classic, it should have been kept to its original design and specifications.

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.

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.

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.

In a lot of ways, it can be. There's a lot to consider when you sell classic cars, whether online or through dealers. There are forms to complete and a host of legalities to keep in mind, not to mention the tire kickers getting your hopes up, only to dash them eventually.

Collector cars are considered property, so collector cars are often taxed. Capital gains tax on collectible cars have a flat 28% tax rate.

What is the most sought after collector car? ›

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. Spider.

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.