Useful sites and questions before getting back into the game
11-19-2016, 07:33 AM
#1
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Useful sites and questions before getting back into the game
Hey all,
After tragically losing my '88 IROC to some thieves in 2004, I'm now looking to get back into the game. This time instead of being a starving student with a beat up daily driver, I'm going to invest in a collector.
My neighbour is selling his '89 IROC and it's in good enough shape that I can do the minor cosmetic repairs to bring this baby from good to great. It doesn't have a lot of miles on it, and is the TBI, so a simple to maintain machine for me.
I need to prove that I can make this purchase an investment, and not a deprecating asset. What suggestions do you have for a first timer getting into the classic car scene?
CC
After tragically losing my '88 IROC to some thieves in 2004, I'm now looking to get back into the game. This time instead of being a starving student with a beat up daily driver, I'm going to invest in a collector.
My neighbour is selling his '89 IROC and it's in good enough shape that I can do the minor cosmetic repairs to bring this baby from good to great. It doesn't have a lot of miles on it, and is the TBI, so a simple to maintain machine for me.
I need to prove that I can make this purchase an investment, and not a deprecating asset. What suggestions do you have for a first timer getting into the classic car scene?
CC
11-19-2016, 08:54 AM
#2
Re: Useful sites and questions before getting back into the game
Congratulations on getting another 3rd Gen & being able to spend a little more.
No guarantee on investments...... no one or nothing can guarantee ROI.
Any "collecter" will tell you: buy what you like & can afford. Enjoy it & hopefully you won't lose too much.
I'll say this, the profit is in the buy if you're a dealer. If it is investment grade you're hunting, you might look outside of your street. Buy the best & rarest you can afford. Then bury it away in a time capsule & hopefully in 10-20 years you stored it correctly, people are still driving cars AND someone is willing tp pay you more than you paid.....that is the excitement of collecting.
No guarantee on investments...... no one or nothing can guarantee ROI.
Any "collecter" will tell you: buy what you like & can afford. Enjoy it & hopefully you won't lose too much.
I'll say this, the profit is in the buy if you're a dealer. If it is investment grade you're hunting, you might look outside of your street. Buy the best & rarest you can afford. Then bury it away in a time capsule & hopefully in 10-20 years you stored it correctly, people are still driving cars AND someone is willing tp pay you more than you paid.....that is the excitement of collecting.
11-19-2016, 10:55 AM
#3
Re: Useful sites and questions before getting back into the game
While these cars in pristine condition can fetch a decent price, as for an investment, depending on your budget, you probably won't get much more than you paid for it. Speaking for myself and some others, these cars are a work in progress and are purely for the fun of it. I know i have way more into my car than what I could get out of it. They are not in the class of say a '67-'69 Camaro as far as collectability. Some day maybe. If i were you, i would get it running good and enjoy it. Just one persons opinion.
11-20-2016, 08:33 AM
#4
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Re: Useful sites and questions before getting back into the game
You can't buy these cars, or many cars, as investments. Many people have tried comparing the '60s and early '70s cars to what will happen with all cars. But it won't. Imagine a 1969 Z28, selling for $4100 in 1969. In 1999, I was looking to buy one, restored, for around $20k. At 30 years of age, it was 5x it's original cost. That should put my 1987 IROC-Z at about $100k today. Well, that ain't happening. And based on current '69 Z28 pricing, in 15 years, my IROC-Z will be worth $378k.
As it was said, get what you want and can afford, enjoy it, and if the value increases, you'll benefit, if it doesn't, you enjoyed the car for what it is. There's no monetary value to happiness.
As it was said, get what you want and can afford, enjoy it, and if the value increases, you'll benefit, if it doesn't, you enjoyed the car for what it is. There's no monetary value to happiness.
11-20-2016, 05:48 PM
#5
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Car: 1985 trans am
Engine: 350
Transmission: T-5
Axle/Gears: 2.73
Re: Useful sites and questions before getting back into the game
These cars are definetely not investments. But as mentioned for fun. You will end up spending alot more than the car is worth to keep it on the road and do some tasteful upgrades. You will never get your money back so if thats what your after these cars are not for you. Now if properly maintained and looked after there is some value and are rising slightly for low kms original 3rd gens. But they are getting harder to find.
11-21-2016, 05:31 AM
#6
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Car: 1992 Chevrolet Camaro Z28
Engine: 5.7 TPI
Transmission: 700R4 Overdrive Automatic
Axle/Gears: 3.23:1 Positraction
Re: Useful sites and questions before getting back into the game
You'll only get your money back on the lowest mileage limited production, top power option garage queens, and that's in 10 to 20 years without driving it.
1LE, B4C, Formula, GTA, IROC, TPI, 5sp 305 or auto 350. '90 '91 & '92 were the strongest. But '88 & '89 Top of the Line Are also sought after.
Imo That's no fun. I'd sooner jump into real estate or buy 50 lottery tickets everytime the jackpot is over 100 mil.
I'd get a car I want to drive & enjoy without worry about killing investment value as I rack miles on it.
I'd get a GNX or Turbo '89 T/A or '91-'92 Firehawk as real roi car investment before even my own '92 25th Ann Z28 5.7.
Because You know there's only 1 GNX, 1 Turbo T/A, 1 3rd Gen Hawk that will go up in value because of Serial Numberd limited production.
You'll make more money back on those cars.
And the engines & suspension package is what really make thise cars valuable & not easily reproduced without high cost.
A real GNX was worth 30 grand 12 years ago.
Today you cant get one for under 60. They usually go for between 80 & 100k.
I bet you in another 10 years, the price will be 150k.
1LE, B4C, Formula, GTA, IROC, TPI, 5sp 305 or auto 350. '90 '91 & '92 were the strongest. But '88 & '89 Top of the Line Are also sought after.
Imo That's no fun. I'd sooner jump into real estate or buy 50 lottery tickets everytime the jackpot is over 100 mil.
I'd get a car I want to drive & enjoy without worry about killing investment value as I rack miles on it.
I'd get a GNX or Turbo '89 T/A or '91-'92 Firehawk as real roi car investment before even my own '92 25th Ann Z28 5.7.
Because You know there's only 1 GNX, 1 Turbo T/A, 1 3rd Gen Hawk that will go up in value because of Serial Numberd limited production.
You'll make more money back on those cars.
And the engines & suspension package is what really make thise cars valuable & not easily reproduced without high cost.
A real GNX was worth 30 grand 12 years ago.
Today you cant get one for under 60. They usually go for between 80 & 100k.
I bet you in another 10 years, the price will be 150k.
Last edited by Phenom-1; 11-21-2016 at 05:49 AM.