It takes a lot to buy a classic car. When you do, there are many points to consider.

The glittering chrome which adorns older cars and the down-to-earth technology can make owning a cherished motor car a pleasure, assuming you buy the right one in the first place. Make a mistake, and both you and your wallet will regret it.

Nostalgia plays a large part in the decision to buy a classic car. Many prospective buyers will start looking for a car like the one their parents once drove or a vehicle they once owned themselves. "There are lots of reasons for choosing a particular model, and the decision is really down to the individual," said Jan Hennen vom Deuvet who heads Germany’s classic car federation.

Magazine articles or visits to an old-timer car show can trigger interest, and clubs which cater to particular models are always willing to give would-be buyers tips on what to watch out for.

Renting the model of choice for a few hours is a good way to get to know a car, and it also allows a driver to find out if the car he or she yearns for is really as good as imagined.

People buy vintage vehicles for all types of reasons, and being realistic about why you are buying is essential if you want to enjoy ownership.

Frank Wilke from the Classic Analytics market watchdog advises newcomers to think hard about what they want from a classic and whether a sports car or a limousine best suits their lifestyle. Perhaps a vintage off-roader would be more advisable?

Marcel Nobis, who writes for the German Auto Bild Klassik magazine, said prospective buyers should decide on a desired make and model before setting a budget.

Common cars from European makers, which were once a common sight but are now rare, are usually cheaper than high-end brands, and obtaining spare parts is easier. Nobis advises a budget of two-thirds for buying the car and a third for maintaining it since "few cars turn out to be as good as the buyer thinks they are."

Buyers should be realistic too about their capabilities. Do you want to take a rundown classic and restore it to mint condition or buy a near-immaculate car and just polish the chrome work at weekends?

"A good mechanic with a workshop can risk buying a car in poorer condition," said Wilke. Refurbishing the vehicle also means the owner gains insight into the car’s foibles.

If you’re not a professional, the classic expert recommends buying the best example you can find, and most of these are sold via magazine small ads or secondhand car sites online.

For largely trouble-free ownership Nobis suggests buying a car from the 1980s or 1990s. "Most of these do not have complicated electronics, and they drive well." Models in this category include the second generation of the Volkswagen Golf, a Mercedes 190 saloon, or an Audi 100. The Mazda MX-5 drophead is a good choice for fresh-air fans.

Older cars like the VW Beetle or bread-and-butter cars from the ‘50s and ‘60s are great and reliable if they have been properly restored but the steering and brakes will not be up to modern standards.

Ease of repair is important too, and that applies to many cars from makes like Ford, British Leyland, Mercedes-Benz and VW.

The owners of rare models will find it hard to track down bodywork panels along with items like brightwork and interior components. "Newbie owners should try and establish a network with other enthusiasts from the outset," says Nobis.

Once the right car has been located, the usual caveat of buyer beware applies here too. Take along a friend or expert to curb your enthusiasm "otherwise, you may find that the owner talks up the car and tries to sell you a tired vehicle as one with ‘charming period patina.’"

Documentation and old service receipts offer an insight into the way a car has been treated.

Older cars have often been suped-up to make them look good, and only a workshop inspection will reveal whether rust has taken hold or the vehicle has been badly repaired after a crash.

Running a magnet over the bodywork will uncover patches of filler and uneven, inconsistent or large panel gaps across the vehicle indicate that accident damage has been poorly fixed.