Before you buy any older car, check the carfax to make sure it wasn't a flood recovered car, etc., and make sure you have a trusted mechanic check it over completely and tell you what issues you are likely to face in terms of future expenses. I am not cure how old a car has to be to be insured as a :classic," and there may be mileage limitations - insurance things vary state to state, so again, find a trusted insurance agent to deal with.