03/14/10: Classic Car Insurance
A lot of classic car enthusiasts are not sure what they should do about insuring their classic or vintage vehicles. Typically, these cars have more value as a collector’s item, as opposed to their value as an actual vehicle. Still, owners of these cars certainly do want to protect that value.
The kind of insurance you get for a classic car is not the same as what you get on your personal vehicle.
The first thing you need to do is figure out if your classic vehicle can be classified as an actual classic car or as an antique. There are very different options associated with each classification.
The “Stated Amount” only serves to set the maximum amount that will be paid. It does not guarantee you a settlement amount that reflects the value of the car when a loss occurs. The “Actual Cash Value” language allows the claims adjuster to settle your loss for an amount less than the “Stated Amount.” Sadly, most insurance agents are unaware of this detail. Most agents, unaware of the actual policy language, will insist if your collector car is stolen or totaled, you will receive the stated value. Wrong!
Agreed Value: This the type of coverage you should purchase. With this policy you are guaranteed in writing the amount you would actually receive if you car is stolen or totaled. There should be no “Actual Cash Value” clause in the policy. The “Agreed Amount” policy should state that the insurance company will pay you the lesser of: The “Agreed Amount” or the cost to repair the car, not to exceed the “Agreed Amount”.
Protect your Investment. Have it Appraised!
The kind of insurance you get for a classic car is not the same as what you get on your personal vehicle.
The first thing you need to do is figure out if your classic vehicle can be classified as an actual classic car or as an antique. There are very different options associated with each classification.
The “Stated Amount” only serves to set the maximum amount that will be paid. It does not guarantee you a settlement amount that reflects the value of the car when a loss occurs. The “Actual Cash Value” language allows the claims adjuster to settle your loss for an amount less than the “Stated Amount.” Sadly, most insurance agents are unaware of this detail. Most agents, unaware of the actual policy language, will insist if your collector car is stolen or totaled, you will receive the stated value. Wrong!
Agreed Value: This the type of coverage you should purchase. With this policy you are guaranteed in writing the amount you would actually receive if you car is stolen or totaled. There should be no “Actual Cash Value” clause in the policy. The “Agreed Amount” policy should state that the insurance company will pay you the lesser of: The “Agreed Amount” or the cost to repair the car, not to exceed the “Agreed Amount”.
Protect your Investment. Have it Appraised!
03/13/10: 1954 Mercury XM-800 Dream Car
by Thomas Glatch
The 1954 Mercury XM-800 dream car fell right in the middle of the Decade of Dreams that preoccupied GM, Ford, and Chrysler. Sold on eBay for $315k in January 2009 in an unrestored state, it brought $429k at RM's Phoenix auction in January. Still, the happy buyer does have the only one, and if it had been the '54 Oldsmobile F88 or the '54 Pontiac Bonneville, he'd have spent $2.5m more at least.
Read the full article here.
The 1954 Mercury XM-800 dream car fell right in the middle of the Decade of Dreams that preoccupied GM, Ford, and Chrysler. Sold on eBay for $315k in January 2009 in an unrestored state, it brought $429k at RM's Phoenix auction in January. Still, the happy buyer does have the only one, and if it had been the '54 Oldsmobile F88 or the '54 Pontiac Bonneville, he'd have spent $2.5m more at least.
Read the full article here.
By Ken Gross
Many scratch-built custom creations were fully backyard efforts with fundamental engineering based on production car technology, but Norman Timbs' car was very different. So was Timbs. He was a skilled mechanical engineer who'd earlier designed the 1947, '48 and '49 Indy 500-winning Blue Crown Specials, driven by Bill Holland and Mauri Rose, and worked with the irrepressible Preston Tucker on the Tucker 48 Torpedo design. Timbs' was an unsual builder, and his amazing "Timbs Special" roadster was a creation unlike any other.
Click here to read more.
Many scratch-built custom creations were fully backyard efforts with fundamental engineering based on production car technology, but Norman Timbs' car was very different. So was Timbs. He was a skilled mechanical engineer who'd earlier designed the 1947, '48 and '49 Indy 500-winning Blue Crown Specials, driven by Bill Holland and Mauri Rose, and worked with the irrepressible Preston Tucker on the Tucker 48 Torpedo design. Timbs' was an unsual builder, and his amazing "Timbs Special" roadster was a creation unlike any other.
Click here to read more.
-By Daniel Strohl
With a car named Gold Digger, one wouldn’t think its owner would be pleased with silver. Such was the case, however, when Tammy Ray of Dahlonega, Georgia, took home the decidedly non-gilded Ridler trophy this past weekend at the Detroit Autorama.
Ray’s win marks a first in major hot rod award history: While other women have owned Ridler-winning hot rods with their husbands, never before has a woman won the Ridler as a solo owner. The car that earned Ray that distinction was a fiberglass-bodied 1933 Ford phaeton — painted gold, of course — built by Ted Thomas at T&T Customs in Canton, Georgia.
Thomas told Autoweek that the build took three years and that he and Ray could have debuted Gold Digger at last year’s Autorama, but they wanted to spend another year perfecting the car. Though T&T-built cars have made it to the Ridler Great Eight finalist round in the past, the Gold Digger is the first car he built to have won the award.
With a car named Gold Digger, one wouldn’t think its owner would be pleased with silver. Such was the case, however, when Tammy Ray of Dahlonega, Georgia, took home the decidedly non-gilded Ridler trophy this past weekend at the Detroit Autorama.
Ray’s win marks a first in major hot rod award history: While other women have owned Ridler-winning hot rods with their husbands, never before has a woman won the Ridler as a solo owner. The car that earned Ray that distinction was a fiberglass-bodied 1933 Ford phaeton — painted gold, of course — built by Ted Thomas at T&T Customs in Canton, Georgia.
Thomas told Autoweek that the build took three years and that he and Ray could have debuted Gold Digger at last year’s Autorama, but they wanted to spend another year perfecting the car. Though T&T-built cars have made it to the Ridler Great Eight finalist round in the past, the Gold Digger is the first car he built to have won the award.
03/10/10: Muscle Cars – 2011 Ford Mustang
-By Mike McNessor
Ford says it has received three times as many orders for 2011 Mustangs as it did for 2010 Mustangs during the same period of time last year, and is attributing the renewed interest to the ’Stang’s powerful new V-6 and V-8 engines.
Dearborn says that half of all orders nationwide are for Mustangs with the new 305hp, 30-MPG, 3.7-liter V-6 engine.
“Fuel economy ranks among the top two reasons people choose vehicles,” said Steve Ling, North America Car Marketing manager. “With the 2011 Mustang lineup, we’ve found a way to offer even better fuel efficiency for V-6, GT and even Shelby GT500 performance drivers — while improving performance. And consumers are responding.”
Nearly 11,000 Mustangs have been ordered since order banks opened in late January.
Fifty percent of the 2011 Mustang orders are for V-6 models, which feature a new, high-performance, all-aluminum Duratec 3.7-liter dual overhead-cam Twin Independent Variable Cam Timing engine. This new engine delivers 305 horsepower and an expected best-in-class EPA fuel efficiency of 30 MPG on the highway — a 25 percent improvement versus the 2010 model.
Click here to read the Hemming’s article.
Ford says it has received three times as many orders for 2011 Mustangs as it did for 2010 Mustangs during the same period of time last year, and is attributing the renewed interest to the ’Stang’s powerful new V-6 and V-8 engines.
Dearborn says that half of all orders nationwide are for Mustangs with the new 305hp, 30-MPG, 3.7-liter V-6 engine.
“Fuel economy ranks among the top two reasons people choose vehicles,” said Steve Ling, North America Car Marketing manager. “With the 2011 Mustang lineup, we’ve found a way to offer even better fuel efficiency for V-6, GT and even Shelby GT500 performance drivers — while improving performance. And consumers are responding.”
Nearly 11,000 Mustangs have been ordered since order banks opened in late January.
Fifty percent of the 2011 Mustang orders are for V-6 models, which feature a new, high-performance, all-aluminum Duratec 3.7-liter dual overhead-cam Twin Independent Variable Cam Timing engine. This new engine delivers 305 horsepower and an expected best-in-class EPA fuel efficiency of 30 MPG on the highway — a 25 percent improvement versus the 2010 model.
Click here to read the Hemming’s article.
By Brian Earnest
Glenn Barnett owns a fleet of hobby cars and his taste in old vehicles runs the gamut, but nothing has tripped his trigger like the '53 Buick Skylarks. He's been hooked on them since he was young.
"My dad had a '53 Buick Special when I was a kid, and I can remember when I was about 10 years old we pulled in to a grocery store next to one of these (convertibles) and I didn't know what it was," Barnett said. "I thought it was a customized '53 Buick and I was just gung-ho for the thing. I thought it was just beautiful. So I've always wanted a '53 Skylark."
What Barnett, a resident of Beaver Dam, Wis., wound up with is a stunning, Reef Blue example of one of one of the most noteworthy and collectible convertibles of the 1950s, and probably any decade. Only 1,690 of the special two-door Model 76X Skylark convertibles were built for 1953.
Click here to read more.
Glenn Barnett owns a fleet of hobby cars and his taste in old vehicles runs the gamut, but nothing has tripped his trigger like the '53 Buick Skylarks. He's been hooked on them since he was young.
"My dad had a '53 Buick Special when I was a kid, and I can remember when I was about 10 years old we pulled in to a grocery store next to one of these (convertibles) and I didn't know what it was," Barnett said. "I thought it was a customized '53 Buick and I was just gung-ho for the thing. I thought it was just beautiful. So I've always wanted a '53 Skylark."
What Barnett, a resident of Beaver Dam, Wis., wound up with is a stunning, Reef Blue example of one of one of the most noteworthy and collectible convertibles of the 1950s, and probably any decade. Only 1,690 of the special two-door Model 76X Skylark convertibles were built for 1953.
Click here to read more.
03/08/10: Own an Automotive Franchise
Do you like hanging out in the garage? Do you drive a souped up car you built yourself? Do you love to get good and greasy, enjoying every revving engine and spinning wheel? If are something you love or just enjoy, purchasing an automotive business franchise can be a smart business opportunity for you.
Buying an auto franchise gives you instantaneous name recognition. Automotive franchises give the franchise owners a well known name you can't get with a brand new business. Automotive franchises give the franchise owners a well known name you can't get with a brand new business.
Click here for more information.
Buying an auto franchise gives you instantaneous name recognition. Automotive franchises give the franchise owners a well known name you can't get with a brand new business. Automotive franchises give the franchise owners a well known name you can't get with a brand new business.
Click here for more information.
03/07/10: 1970 De Tomaso Mangusta
s/n 8MA1048
Beige Gray with Black Leather
De Tomaso’s first production car manufactured in significant volume, the Mangusta was a remarkable car when first unveiled at the Turin Motor Show in 1966. Following the lead set by the Lamborghini Miura a few months earlier at Geneva, the Mangusta was beautifully styled and featured a mid-mounted powerplant. Along with the Miura, it represented one of the first high performance mid-engined road cars produced in any significant numbers. The specification was very modern, with independent suspension and disc brakes all around, ZF 5-speed transaxle, and a very low and attractive body styled by Giugiaro who was then working at Ghia. The engine was a Ford-sourced V8, which combined with the car’s light weight (in the neighborhood of 2600 pounds), made for excellent performance. By the time production ended to make way for the Pantera, just 400 had been built, making them quite rare.
This particular car was in the same ownership from new until 2009, and its indicated mileage of 9226 is from new. Its careful storage ensures that it is in very nice original condition, with only some sympathetically retouched paintwork and the fitment of new tires being the only significant departures from the car’s original equipment and configuration. It has been recently serviced, including attention to the braking and cooling systems. The car retains its tool roll with tools.
More Info
Beige Gray with Black Leather
De Tomaso’s first production car manufactured in significant volume, the Mangusta was a remarkable car when first unveiled at the Turin Motor Show in 1966. Following the lead set by the Lamborghini Miura a few months earlier at Geneva, the Mangusta was beautifully styled and featured a mid-mounted powerplant. Along with the Miura, it represented one of the first high performance mid-engined road cars produced in any significant numbers. The specification was very modern, with independent suspension and disc brakes all around, ZF 5-speed transaxle, and a very low and attractive body styled by Giugiaro who was then working at Ghia. The engine was a Ford-sourced V8, which combined with the car’s light weight (in the neighborhood of 2600 pounds), made for excellent performance. By the time production ended to make way for the Pantera, just 400 had been built, making them quite rare.
This particular car was in the same ownership from new until 2009, and its indicated mileage of 9226 is from new. Its careful storage ensures that it is in very nice original condition, with only some sympathetically retouched paintwork and the fitment of new tires being the only significant departures from the car’s original equipment and configuration. It has been recently serviced, including attention to the braking and cooling systems. The car retains its tool roll with tools.
More Info
03/06/10: Collectible Classic - 1963 ATS GT Coupe
As one of eight made and with five thought to survive, this is not a car which can be used with abandon, as parts would have to be fabricated
by Donald Osborne
Looking like a Ferrari Dino, powered by a V8, AND designed by Ferrari rebels, the ATS should have been a huge success. But the company went racing and bankrupted itself in short order. Of eight cars built only five remain, with four others being assembled later as Serenissimas. So at $510,017 at RM's London auction on October 28, 2009, this car should have been a bargain. Was it?
Read the full article here
by Donald Osborne
Looking like a Ferrari Dino, powered by a V8, AND designed by Ferrari rebels, the ATS should have been a huge success. But the company went racing and bankrupted itself in short order. Of eight cars built only five remain, with four others being assembled later as Serenissimas. So at $510,017 at RM's London auction on October 28, 2009, this car should have been a bargain. Was it?
Read the full article here
03/05/10: The next generation Cobra Roadster
- By Terry McGean
Perhaps no other car has inspired so many replicas as Carroll Shelby’s AC Cobra. The legendary 427 Cobras were victors on the track, terrors on the street and capable of performance numbers that stood as the high water mark for production sports cars for many years. Exclusivity that resulted from high cost and low production numbers spawned replicas before long, and over the years there have been many such efforts, some that attempt to accurately recreate every detail of the original, and others that can only offer a reasonable facsimile of the Cobra’s appearance.
Factory Five was a relative latecomer to the replica field, but quickly carved an appealing niche in the market by offering reasonably priced kits that used lots of mechanical bits from the popular Ford Fox-platform Mustang 5.0. The resulting vehicles looked good and performed well, and provided builders with lots of options for upgrades, thanks to the vast aftermarket for the Fox Mustang.
The success of the original Factory Five Roadster led to further developments, both in improving the Roadster and in creating other models. Now the company has directed its attention back to the original product with a next-generation effort, yielding the new Mk4 Roadster. Many of the improvements to the Mk4 were made to make the body even more true to the original in dimension and detail, while also improving its build quality, but another design goal was to enhance driver and passenger space. In addition, the chassis is also new, with upgrades to provide increased rigidity and better handling. There are many details that Factory Five lists at www.factoryfive.com; the company is also offering discounted rates on the remaining inventory of Mk3 Roadsters. While you’re there, also take a look and the company’s slick Type 65 Coupe.
www.factoryfive.com
Perhaps no other car has inspired so many replicas as Carroll Shelby’s AC Cobra. The legendary 427 Cobras were victors on the track, terrors on the street and capable of performance numbers that stood as the high water mark for production sports cars for many years. Exclusivity that resulted from high cost and low production numbers spawned replicas before long, and over the years there have been many such efforts, some that attempt to accurately recreate every detail of the original, and others that can only offer a reasonable facsimile of the Cobra’s appearance.
Factory Five was a relative latecomer to the replica field, but quickly carved an appealing niche in the market by offering reasonably priced kits that used lots of mechanical bits from the popular Ford Fox-platform Mustang 5.0. The resulting vehicles looked good and performed well, and provided builders with lots of options for upgrades, thanks to the vast aftermarket for the Fox Mustang.
The success of the original Factory Five Roadster led to further developments, both in improving the Roadster and in creating other models. Now the company has directed its attention back to the original product with a next-generation effort, yielding the new Mk4 Roadster. Many of the improvements to the Mk4 were made to make the body even more true to the original in dimension and detail, while also improving its build quality, but another design goal was to enhance driver and passenger space. In addition, the chassis is also new, with upgrades to provide increased rigidity and better handling. There are many details that Factory Five lists at www.factoryfive.com; the company is also offering discounted rates on the remaining inventory of Mk3 Roadsters. While you’re there, also take a look and the company’s slick Type 65 Coupe.
www.factoryfive.com
