Owning a classic car is a passion for many. These vehicles represent a piece of automotive history, a link to a bygone era. But beyond the joy of ownership lies the investment aspect. Like any investment, the value of your classic car can fluctuate. One crucial factor that significantly impacts its value is documentation.

In this article, we cover the reasons why documentation is important, the most important documents you should consider saving, provide examples of documents you might not have thought of, and provide expert tips for saving and storing this documentation. 

In This Article: 

Why Is Documentation Important for Collector Car Values?

Think of your classic car’s documentation as its resume. A well-documented history tells a compelling story and builds trust with potential buyers. This collection of documents can even increase the resale value and justify your asking price by providing a clear and comprehensive vehicle history.

Builds Trust and Transparency: A complete history demonstrates that the car has been well-maintained and cared for. This transparency builds trust with potential buyers, increasing their confidence in the vehicle’s condition.

Supports Authenticity: Documentation can help verify the car’s originality and authenticity. This is crucial for high-value vehicles, especially those considered rare or collectible.

Justifies Asking Price: A well-documented history helps justify the asking price. Buyers are more likely to pay a premium for a car with a clear and verifiable history.

Increases Resale Value: A documented history significantly enhances the car’s resale value. It makes the car more attractive to serious buyers, potentially leading to a quicker sale and a higher return on investment.

What Documents To Save:

The documents that you should save depend on the type of vehicle in question. For classic cars, you may wish to save anything from maintenance and restoration information, to memorabilia, and even correspondence with past owners. Consider images of before and after restoration, original documentation, such as the owners manual, and show awards if applicable. A value appraisal document can also be a valuable inclusion, as it can show value comparisons and help build your case as to why the vehicle is worth your asking price.For newer vehicles, you will want to save information about the purchase of the vehicle showing it has a clean purchase history and no leans, detailed records of vehicle maintenance, and any relevant warranty information.

For luxury vehicles, you may wish to provide parts receipts, showing repairs and maintenance were done with approved parts or with authorized mechanics. You may wish to include proof of how the vehicle has been stored. A value appraisal can also be valuable for luxury vehicles, as it will show similar vehicles that have sold and help show your luxury vehicle has maintained its value.

Here is a more extensive list of documents for you to consider:

Original Purchase Documents

Bill of Sale: This legally transfers ownership of the vehicle from the seller to the buyer. It’s essential for registering the vehicle and proving you are the rightful owner.

Dealer Invoice: While not a legal ownership document, it can be helpful in resolving disputes or verifying the original purchase price, which can be important for insurance claims or resale value.

Warranty Information: This document outlines the terms and conditions of the manufacturer’s warranty. It’s crucial for getting repairs covered by the manufacturer if any issues arise during the warranty period.

Maintenance Records

Service Receipts: These receipts demonstrate that the vehicle has been regularly serviced and maintained according to manufacturer recommendations or as needed. This helps ensure the vehicle is operating safely and reduces the risk of unexpected breakdowns.

Parts Invoices: Parts invoices can help identify the specific parts used in repairs or upgrades. This information can be valuable if there are any issues with the parts or if the vehicle needs further repairs.

Records of Major Repairs or Restorations: These records provide a detailed history of any significant work performed on the vehicle, such as engine overhauls, bodywork repairs, or restorations. In some cases, major repairs or restorations can increase the value of a classic or collectible vehicle.

Competition History (if applicable)

Race results and awards demonstrate the vehicle’s capabilities and potential, often commanding a higher price. Competition history preserves the vehicle’s story, honoring its past achievements and the people involved. A compelling narrative built around the vehicle’s history can attract potential buyers and enthusiasts.

Detailed documentation verifies the vehicle’s authenticity and provenance, deterring fraudulent claims. Insurance companies and appraisers use competition history to assess the vehicle’s value more accurately. To properly document a vehicle’s competition history, you will want to include the following:

Race Results: Detailed records of races entered, finishing positions, lap times, and any significant events. Supporting documentation like race programs, newspaper clippings, and event photos are also an important part of your competition record.

Awards: Documentation of all awards received, including trophies, plaques, and certificates, and photos of the vehicle with the awards.

Show Placings: Records of all shows entered, including class placements, judges’ comments, and any special awards, along with photos of the vehicle on display at shows when possible.

Owner’s Manuals

Owner’s manuals, including both the original and any supplemental guides, are incredibly important when documenting a vehicle. The manual outlines the recommended maintenance schedule, including oil changes, fluid checks, and other essential services. The manual also contains vital information like fluid types, tire pressures, and other technical specifications that are essential for proper maintenance and repairs.

Correspondence

Letters from Previous Owners: These letters can provide a chain of ownership, documenting who owned the vehicle and when. This is vital for verifying authenticity and provenance, especially for classic or collector cars. Sometimes, letters include personal anecdotes about the vehicle, adding a unique human element to its story. This can significantly increase its historical and sentimental value.

Communications with Car Clubs or Enthusiasts: Correspondence with car clubs or experts can provide insights into the vehicle’s rarity, condition, and potential value. These records can demonstrate the vehicle’s involvement in the car enthusiast community, potentially increasing its desirability among collectors.

Celebrity Ownership & Movie Cars

Collector cars gain significant prestige and value when they can be linked to a famous owner or a prominent role in film or television. This “provenance” adds a unique layer of history and desirability.

How to Prove Authenticity:

• Documentation:
  • Photos and Videos: Photographs and videos of the celebrity with the car, or the car on set, are crucial.
  • Contracts and Agreements: Contracts between the celebrity and the car’s previous owner, or between the production company and the car’s owner, can establish ownership or usage.
  • Articles and News Clippings: Articles from newspapers, magazines, and online publications that mention the celebrity’s ownership or the car’s role in the film can provide valuable evidence.
  • Registration Documents: If the celebrity is listed as the owner on the car’s registration documents, this provides strong evidence of ownership.
• Expert Appraisals:
  • Seek appraisals from recognized automotive experts who specialize in provenance research. These experts can authenticate the car’s history and provide a written report detailing their findings.
• Membership in Registries:
  • Consider registering the car with a recognized registry or club that specializes in vehicles with celebrity or movie car history. This can provide additional validation and exposure.

Examples:

• A car owned by Elvis Presley: Authenticating ownership might involve finding photographs of Elvis with the car, registration documents in his name, or even testimony from former employees or associates.
• The Batmobile from a Batman movie: Proving its authenticity would require documentation from the production company, photographs from the set, and potentially even original blueprints or design documents.

Important Note:

It’s crucial to exercise caution when purchasing a car with celebrity or movie car provenance. Thorough due diligence is essential to ensure the car’s history is genuine and that the documentation is authentic.

By carefully documenting and authenticating the car’s connection to a celebrity or movie, owners can significantly enhance its value and appeal to collectors who are drawn to these unique pieces of automotive history.

Tips for Maintaining Documentation:

Keep Everything Organized

Use a binder, folder, or digital system to store all documents in a safe and accessible location. Ensure your choice of organization is easy to access, so you won’t forget to include a new document, but also safe enough it will not get lost or damaged. Protect documents from light and moisture to avoid deterioration. Valuable documents like the vehicle title should be kept in a secure place and never in the vehicle itself. While other documents, such as a maintenance log, you may wish to keep in the glove compartment so you don’t forget to write down your latest oil change.

When you are looking to sell the vehicle, ensure all relevant documentation is collected, updated, and ready before the potential buyer shows up. Nothing is worse than having your buyer ready to go and realizing you don’t know where the vehicle title is, or that you forgot to write down your last five oil changes.

Scan and Digitize

Create digital copies of all important documents for easy access and backup. Utilize secure cloud platforms like Google Drive, Dropbox, or iCloud to store digital copies of all your documentation. This provides easy access from any device and offers robust backup and recovery options.

Maintain a Service Log

Keep a detailed log of all maintenance and repairs, including dates, mileage, and the name of the mechanic. A service log that shows a consistent record of oil changes and preventative maintenance can be worth its weight in gold. Additionally, if you’d done an expensive repair that is not necessarily apparent upon looking at the vehicle, such as an engine replacement or transmission, it is better to have proof such as Mechanic receipts, instead of asking the buyer take your word for it.

Create a Restoration Before & After

If the vehicle had extensive restoration, you may wish to create a separate Restoration before and after document. Many vintage vehicle owners often create a binder or poster of this information for auto shows. This could include images of before the restoration, progress photos as it was restored, relevant information about what went into the restoration, why certain style decisions were made (such as images or information about the vehicle’s original state), and images of the final results. You could also include receipts that show the cost of the restoration, which can be valuable when justifying your asking price.

Join a Car Club (or Online Community)

Many car clubs offer resources and advice on maintaining proper documentation for classic vehicles. If your vehicle is part of a certain community, you may discover additional documents that are valuable to fans of that vehicle. This can also help you discover certain shows or events your vehicle can attend if you are looking to gain awards and show recognition to improve the value.

Investing in proper documentation for your classic car is an investment in its value. By meticulously maintaining a comprehensive history, you not only protect your investment but also ensure that your beloved vehicle is appreciated and valued by future enthusiasts.

How We Can Help

At AAG, documenting vehicles is our specialty. We offer a variety of Value Appraisals and Vehicle Documentation Services depending on your vehicle and your needs.

Our Vehicle Value Appraisals can be a valuable addition to your classic car’s documentation for several reasons. It provides an independent, professional assessment of your vehicle’s current market value, backed by thorough research and analysis. This documentation can be crucial when:

• Selling your car: A professional appraisal gives potential buyers confidence in the asking price and demonstrates the car’s true worth.
• Insuring your car: Accurate valuation helps ensure you have adequate insurance coverage in case of damage or theft.
• Estate planning: Appraisals assist in determining the car’s value for estate tax purposes or fair distribution among heirs.
• Supporting loan applications: Lenders may require an appraisal to secure financing for a classic car purchase or restoration project.

Our Vehicle Documentation Services can confirm your automobile’s pedigree and protect your investment! Our Certified Documentation Pedigree Package includes adding your vehicle to our database of documented and registered vehicles, providing the freedom to collect with the assurance that you will always know that your collection is documented. Inclusion in our official registry can add value and prestige to your vehicle, as well as provide proof of its pedigree should a catastrophe arise.

By including an AAG documentation report in your car’s documentation, you demonstrate a commitment to its preservation and enhance its overall value and appeal.