Spring is in the air, and if you’re like us, this is the time when a young (or not so young) man’s thoughts turn to buying a classic car to work on this summer.
We know that not everyone has a Shelby GT budget (or even a kit car Shelby budget), so we wanted to talk about some cars that get you a lot of oomph without draining your wallet. We’ve got to thank the folks over at Hagerty’s classic car insurance for their classic car valuation tool, which handled the numbers part of this list.
Some of their most undervalued classics are:
• First Generation Mazda Miata (1989-97- $5,000): If you aren’t fooled by its reputation for cuteness (and don’t mind always having the top down if you’re over 6’2”), it’s hard to beat this little convertible. With tens of thousands still on the road 20 years after the original line was ended, you can still fix one fairly easily.
• C5 Chevy Corvette (1997-2004- $15,000): Thanks to depreciation, it’s possible to own a Corvette for less than you’d pay for the most stripped down new econo-box. They’ve got some years on them now, but Corvettes are some of the most pampered cars on the road, so you’re likely to find a C5 model in great shape.
• Ford Thunderbird Turbo Coupe (1984-88- $6.000): Even though it’s from the 80s, the T-bird Turbo Coupe feels like the child of a 1960s American muscle car and a European performance sedan, and was Motor Trend’s car of the year in 1987. 30 years later, these are a bit hard to find, but still fun to drive.
• Porsche 914 (1969-1976- $12,000): While not a powerhouse like a modern 911, the 914 is often considered the pinnacle of lightweight, low-power design where the fun comes from nimbleness, not raw power. With a choice of a flat-four or flat-six air cooled engine and a distinctive body, it should come as no surprise that the 914 was designed as the replacement for Volkswagen’s iconic Karmann Ghia.
• Studebaker Avanti (1962-1963- $20,000): The rarest car on this list, the Avanti was the swan song for a venerable American car maker. While it never captured the public imagination, the Avanti featured an innovative fiberglass body with looks that were 20 years ahead of their time, and a 240hp V8 that gave it plenty of muscle. If you can find one of the roughly 6,000 made, buy it and be the only guy you know who has one.
• Volkswagen Corrado VR6 (1992-1995- under $5,000): Originally designed as a replacement for the Porsche 944, the Corrado VR6 packed nearly 200 horsepower into a sporty 2,800 pound car with German handling. If you can find one that hasn’t been destroyed by a teenage boy, and don’t mind the mysteries of VW electrical systems, you can get a lot of speed for a tiny bit of cash.
These are just the tip of the iceberg. If you do your homework and can be happy with a more obscure car, there are still plenty of deals to be had, particularly in late-classic-era cars (full sized convertibles from the late 60s to the mid 70s are a steal, especially if you know how to fix a top), oddball pickups and work trucks, cousins of classics (a ‘67 Mercury Cougar GT is thousands less than a comparable Mustang, but has almost the exact same specs), and professional cars (what’s cooler than tooling around in a late 60s station wagon turned ambulance?).
And remember, a Backyard Buddy lift can help you double the space in your garage while giving you a great platform to easily work on your new find. Give us a call and then get out there and look for your next treasure