Old Car Prices vs New

[Bigtime53]

Originally Posted by 2013ZL1FUN

Yes in 5 to 10 years theses cars will continue on their trajectory downward, as they age and become less reliable. Plus I won't be around in 20 years!

That is exactly what will probably happen to me to as I am no spring chicken. So I will enjoy my ZL1 and who knows I may try and wear it out so whoever gets it in the future can buy all the cheap Chinese metal to rebuild it!

[Z/28Dan]

Stop worrying about collectability and start driving your Camaro. Who the hell cares how much these cars will be worth to the next guy? Drive 'em.

[2013ZL1FUN]

Obviously by my comments I am not worried about collectability, if I was I wouldn't have went from a 67 to a 13. Fun was my main concern, along with ride quality for my old bones.

[rednecks70]

This is an interesting subject...I have a '70 Chevelle and a 2013 ZL1, I love them both and will hopefully have them till the day I die. It would be a very tough decision if I had to get rid of one, although sometimes I have a love/hate relationship with the Chevelle. It is not restored and old cars can give you trouble from time to time. But on the other hand that thing can really scare the crap out me , a big block, 4:11 gears and no traction control gets interesting real quick! What I like about the ZL1 is it does everything (accelerate, turn, stop, etc.) so effortlessly and mine is basically stock so when I do mod it, it is going to be a beast! Very different cars but both are very enjoyable for different reasons.

I read that a lot of our classics are being bought and shipped to other countries. One story I read stated the foreign purchaser said (after the sale) he would have paid double if he had to. While I have no ill feelings toward foreigners purchasing American classics I feel bad for the younger crowd who would purchase these cars and continue the legacy but the high demand (foreign and domestic) make them unattainable.

[Bigtime53]

Originally Posted by rednecks70

This is an interesting subject...I have a '70 Chevelle and a 2013 ZL1, I love them both and will hopefully have them till the day I die. It would be a very tough decision if I had to get rid of one, although sometimes I have a love/hate relationship with the Chevelle. It is not restored and old cars can give you trouble from time to time. But on the other hand that thing can really scare the crap out me , a big block, 4:11 gears and no traction control gets interesting real quick! What I like about the ZL1 is it does everything (accelerate, turn, stop, etc.) so effortlessly and mine is basically stock so when I do mod it, it is going to be a beast! Very different cars but both are very enjoyable for different reasons.

I read that a lot of our classics are being bought and shipped to other countries. One story I read stated the foreign purchaser said (after the sale) he would have paid double if he had to. While I have no ill feelings toward foreigners purchasing American classics I feel bad for the younger crowd who would purchase these cars and continue the legacy but the high demand (foreign and domestic) make them unattainable.

Wow! that is the first time I have heard of the foreign buyers buying the old muscle cars as I have always read articles that they buy new hi-perf cars etc. That explains a bunch then.

[Bigtime53]

Originally Posted by Z/28Dan

Stop worrying about collectability and start driving your Camaro. Who the hell cares how much these cars will be worth to the next guy? Drive 'em.

My exact thoughts to! I enjoy my car right now at my age and that is all that matters!

[2013ZL1FUN]

Alot of cars, classics also, get lost every year in floods and hurricanes. Probably more common than cars going overseas.

[Happy_Dan]

It's awesome to have both. The cars come with memories of time and youth. Not typically used for every day driving so it's about the entertainment. I have a 68 C-20 pickup truck. No power brakes or steering, drum brakes all around, no AC etc. Would I want to take it on a long drive? No! Do I love driving it around town on a nice day and doing errands? Absolutely! It's fun.

When I go to the Nationals or other shows that are not local, of course I take the ZL1. Drives nice, stops great, handles fantastic and is comfortable and reliable. It's a great car but it's comparing apples and oranges. I wouldn't want to give up either.

[Bigtime53]

That sure is a slick truck!!

[Full_Spectrum]

The 5th ZL1 and Z/28 will indeed appreciate over the next 20 years. No question.

20 years ago I picked up a 1-owner 1970 RS/SS with an M21 and 12 bolt...for $2k.

I dont know what that would sell for now, but Id imagine north of $35k.

There is almost nothing less valuable than a previous gen race car or musclecar. Given time, their value rebounds and escalates.

[lbls1]

Originally Posted by Bigtime53

I have been looking at all of the GM old cars commonly known as muscle cars and the prices the sellers are asking for them is just crazy! Camaro's, Chevelles Oldsmobile, Novas etc it is hard to find one under 30 grand and the sky is not the limit cause alot are over 80-100 grand. I have to ask why would anybody pay such a crazy amount for those old cars? You have to know if they have been restored the metal is poor fitting as nothing fits and it is cheap and thinner than the factory metal was plus most are put together with every shortcut the builder can do to make more profit on the car. I have a 2015 ZL1 and just absolutely think that I would not trade it for one of the old cars. Call me crazy if you want but for the money the ZL1 is alot of car. It drives better,runs better and the suspension is better and it is not a rusted up pieced together car and heck it even looks good. I am not saying if you have the money and just have to have a old muscle car go for it! I think if people who own these modern day muscle cars like we all do here we should be getting more money out of our cars when we decide to sell them. Inflation is going up seems like everyday and the new ZL1's are more money now than they ever have been so if old cars inflate like they are so why can't our modern cars do the same? They do not have to be 20-30-50 years old to adjust to inflation right? I am just saying the old cars keep getting more expensive and so should our cars, Sorry about the long read but I wanted to see what you guys think.

One reason and one reason only: There aren't cars made anymore that are like them. Sure, today's cars are better in that they are more reliable, smarter, more comfortable, even faster. However, in the quest for a better car the car companies killed off the one component that made cars desirable; Character. The cars up to the 60's and I dare say 70's are full of character. Every inch of those cars had character, style, smell, sound, you name it. Even some of the most mundane of the sixties cars are far more interesting than the majority of cars made today. As much as it pains me to say, outside of the corvette (of which I'm not a fan) and maybe the 6th generation Camaro, there isn't a single car made today that I am even casually interested in. In fact, I predict that I may go back in time on my next car purchase and buy myself a late sixties Impala or Chevelle that I've longed to have my entire life. So in a nutshell, it explains some of the reasoning behind the prices.

Additionally, prices are driven by demand. There are some that are willing to pay those ridiculously high prices for the vintage (nice way of saying used) cars. Not all of the sixties and seventies cars are super high priced, but almost anything from the muscle genre will command a ten-fold or higher appreciated price.

[lbls1]

One other thing; It will be harder for a modern car (cars made today) to appreciate at all, let alone the 10 and 20 fold appreciation that the sixties muscle cars are enjoying. One obvious reason is the glut of cars on the road. There are millions of cars, sold and unsold, on the roads and pavement today. Like I eluded to earlier, cars have become soul-less, in that all of them basically do the same thing, have many of the same features, and even look the same. There isn't much value held for cars today, so most cars will depreciate to almost nothing. Of course, the Camaro will stand a much better chance of appreciating, but on average it will take longer for it to see a rise above its original MSRP. I am not sure if any modern car will appreciate ten and twenty times like the golden era of the sixties muscle cars.

[Bigtime53]

lbls1
I could not have said that any better and you do make valid points. However still the prices people are paying for these old cars is in my view just absolutely crazy! Yes supply and demand has something to do with it but alot of the cars that sale there were more than one or two or a hundred made and people are buying them like they are the only ones left. I know I will not be around to see what some of these modern muscle cars will sell for in 20-30 years and I do believe they will be worth more than their msrp was at the time they were new. Your correct on all of the other cars that are out there today looking just like each other car but the select hi-performance cars of todays like the ZL1 and Hellcats, Mustangs just have to go up in value. I believe and you probably do to that this world is going to electric cars and the good ole gas burner motors will be gone and I do not think it will take another 20 years to see that so when everyone starts buying electric cars then these cars should grow faster in worth than say if they continue building gas motors then it would take longer of course. Like I said in a earlier post I really do not care as I am going to drive mine and enjoy it while I still can and someone else can get it when I am gone and restore it. I will keep it in good shape to so maybe they will not have to spend much on it to make it a unrestored classic! LOL

[lbls1]

Originally Posted by Bigtime53

lbls1
I could not have said that any better and you do make valid points. However still the prices people are paying for these old cars is in my view just absolutely crazy! Yes supply and demand has something to do with it but alot of the cars that sale there were more than one or two or a hundred made and people are buying them like they are the only ones left. I know I will not be around to see what some of these modern muscle cars will sell for in 20-30 years and I do believe they will be worth more than their msrp was at the time they were new. Your correct on all of the other cars that are out there today looking just like each other car but the select hi-performance cars of todays like the ZL1 and Hellcats, Mustangs just have to go up in value. I believe and you probably do to that this world is going to electric cars and the good ole gas burner motors will be gone and I do not think it will take another 20 years to see that so when everyone starts buying electric cars then these cars should grow faster in worth than say if they continue building gas motors then it would take longer of course. Like I said in a earlier post I really do not care as I am going to drive mine and enjoy it while I still can and someone else can get it when I am gone and restore it. I will keep it in good shape to so maybe they will not have to spend much on it to make it a unrestored classic! LOL

Bigtime,
That is one area that I did not focus on; The advent of electric cars. Don't get me wrong, as I advocate the development of alternative fuels to save our environment etc. It is just that I don't believe that electric is the savior alternative right now. I feel that the technology is still a century away in terms of development for daily use. The reasons that I feel this way are: Much of electrical power depends on fossil fuel for facilities that generate electric power. 2. Charging stations are rare, at least where I live at. You just can't readily find them as opposed to gas stations. 3. Charge time for batteries is woefully too long. You have to wait 7-9 hours to fully charge a battery, and in general the mileage ranges are still shorter than some gas vehicles. Gas vehicles you can replenish fuel in minutes. 4. Boring and generic car styles, but that's nothing new for today's cars.

I don't see electric cars becoming a major hit in the present time due to its inconvenience. A lot of work will be needed in order to make electric cars as convenient as the most efficient gas cars we have in the present time.

To me, it is a rather sad time for automobiles in general, because they have become lifeless utensils. No more style, or excitement from most cars (that includes a few high dollar luxury makes as well). That is why I will be clinging to my examples and the last vestiges of American car excitement.