Prices of affordable classics are rising, where are the remaining bargains?
Hagerty’s Affordable Car Price Index reflects a sharp increase in the price of entry level classic and special interest cars, fueled at least partially by a rash of so called “pandemic buying”. The last five years has also witnessed strengthening interest in “malaise” era machines as well as formerly workaday imports.
For many, myself included, even $5,000 is lot of scratch to part with for a toy. Yet when the gavel drops at $10,500 for a snot green 1979 Cutlass Salon it gives one pause. What kind of classic car can or indeed should a person buy for $5,000?
Thus, compiled below please find my highly subjective list to assist the terminally confused and financially challenged with their classic car decision making.
My criteria for selection was simple, cars had to be 1972–1995 year model of which solid examples can be had for $5000 or thereabouts. I restricted myself to cars that you stand a decent chance of finding and for which mechanical and chassis parts are readily available. Lastly, I tried to select cars, that, at least for this writer possess a certain appeal, however ineffable it might be.
- Rubber Bumper MGB
Yes, the rubber bumper cars had extra weight and reduced power in the name of clean air and safety. The snobbish consider them slow and ugly. However, the passage of time has rendered the rubber bumpers far less odd looking. And few cars have the aftermarket support the MGB enjoys. Increased power and comfort are all available from suppliers like Moss Motors. The biggest worry on one of these is rust. Powertrains are simple and robust. A moderately skilled home mechanic could undertake an engine rebuild in their garage. The OHV B series mill came out in the ‘50’s and looks more FarmAll than sports car. Still, they deliver a delightful brrrrapppp from the exhaust and the gearshift offers satisfying, rifle bolt action. Find one with overdrive, otherwise at 70 mph the long stroke mill will be taching out at 4000 revs. Oh, and don’t forget to grease the suspension regularly, it uses ye olde kingpins, not ball joints.
2. Big RWD Detroit Wagons
You’d do well to consider a GM B body or FoMoCo Panther platform wagon. Sure, they have less cache with the trendy set than European wagons from the likes of Mercedes and Volvo. But the Detroiters will swallow a 4X8 sheet of plywood or a passel of people with ease and most of them can tow a boat. All offer mechanical simplicity and good (cheap!) drivetrain and chassis parts availability. You won’t have that well damped, Germanic ride, but they float down the highway with graceful serenity. Choose a later one and you can be rewarded with surprising economy. My boyfriend’s 1992 Caprice wagon, with a throttle body injected 350 delivered a real world 23.8 mpg on a recent trip to Connecticut. Did I mention it has almost 150,000 miles on the clock? You might want to hurry though, it seems like these are getting more costly by the day. Although I’ve observed that Ford and Mercury wagons remain less expensive than their GM competitors.
3. 1981–1989 Lincoln Town Car
“Lincoln, what a luxury car should be”, or so ran their ads. It wasn’t just hyperbole. They are remarkably comfortable and offer drivers and passengers a silent, serene place from which to watch the world go by. What’s more, the 1981–1989 box Townies ride Ford’s tough Panther platform and are powered by the evergreen 302 Windsor V8. 1987–1989 are reckoned to be the best of the lot as engines were upgraded with roller rockers and multipoint fuel injection. Transmissions can be a weak spot. But reconditioned units are not hard to come by. Top Tip, don’t use overdrive around town to prolong transmission life. Follow my lead and go for baroque, you won’t be sorry.
4. 1987–1994 Chrysler LeBaron Coupe and Convertible
Aesthetically, the freshened for ’87 LeBarons unquestionably punched above their weight. Although driving dynamics were perhaps more pedestrian than their looks would suggest. The Ultradrive automatic transmissions fitted to many cars are known to be finicky (Five speeders are out there). Power windows and a few other sundry trim and interior bits could be more durable. Engines are generally tough, the smooth Mitsubishi 3.0 likes to eat valve stem seals, and the turbocharged Chryslers have a fondness for head gaskets. But, consider this, as a second car an old LeBaron is only going to be driven on high days and holy days and it’s still cheaper to keep on the road than a Mercedes.
5. 1988–1992 Ford Probe
The Probe was, famously, supposed to supplant the venerable Mustang. That wasn’t to be. But the sleek scion of FoMoCo and Mazda had its own, very 1980’s appeal. Of everything I’ve offered here, the Probe will probably be the hardest to source, but most rewarding to drive. Buyers had a choice of two Mazda four pots, one turbocharged, the other naturally aspirated. Ford’s Vulcan V6 was also on the options list. My choice would be a Probe with the bent six and a five speed for both driving pleasure and reliability. There’s a whole generation of Zack Morris wannabes out there for whom this car pushes all the right buttons. Definitely worth seeking out a good’un and squirrelling it away for yourself.
Admittedly, I tried to cover a lot of ground here. Doubtless the armchair quarterbacks will find some of this writer’s selections wanting in one fashion or another. As I mentioned, this was subjective and reflective of my own preferences. It also reflects the state of the market. The collector car zeitgeist favors German and Japanese cars and they are commanding higher prices. This makes American cars strong contenders from a price/value standpoint. My advice is, ignore the trends and buy a Yankee boomermobile. Enjoy it, preserve it and wait until the fickle pendulum of popular taste swings the other way.
