Thought I'd try to get some insight here.
I'll preface this by saying I love muscle cars of all types (though a '68 Charger is and has been the dream for half of my life, and a '70/'71 Cuda would be the next car after that). I also just turned 28, so I'm on the younger end of the spectrum.
Where do you guys see the values of muscle cars going in the next 20-30 years?
Prices may be "down" now, but they are still far too expensive for many; seems you need at least $20k to get a non-numbers driver in halfway respectable condition, or $8k+ for a total basketcase needing a total restoration. In particular, they are definitely too expensive for younger people such as myself, who face a lot of challenges in terms of lack of upward mobility, home ownership, lack of pension and lifetime employment, etc. It's also an era where everything has a bill to go with it, be it TV, internet, cell phones--all things that weren't around 30-40 years ago. Plain and simple, the cost of living is much higher for young people today, poor economy and high gas prices aside. So, without going political, the cars have that working against them. People my age simply can't afford them. That's strike one.
Beyond that, this is an era where anyone can drop their dimes at the dealer for a 400+ hp car that can run 12s off the floor, pull .9+ Gs on the skidpad, and idle in traffic smoothly with the AC and stereo blasting, or heat your *** through the comfy leather on the cold days. In other words, the cars today can do everything the muscle cars can do, and many things they can't. All with a warranty and no work beyond checking the options boxes. It is a mighty fine time to be buying a new Mustang/Challenger/Camaro, especially with editions like the SRT-8, ZL1, Boss 302, and GT500. Certainly no limit to options. While most of these cars are still too expensive for someone my age, you can get into some base V8 cars for under $30k, which isn't too bad for what you get and the ease of obtaining financing. The superior performance of the current models and their appeal to the younger guys is strike two for the original muscle cars.
Finally, and perhaps a bit touchy, is that the baby boomers who love and know these cars, and have the means to restore and own them, are aging quickly. Someday in the next 20 years, there will be very few baby boomers left, which is a shame as a tremendous wealth of knowledge will be lost, because quite frankly most people in my age bracket just don't know/care. Many of us may think the cars are cool and respect them, but at the end of the day we can't afford them and there are hot new ones at the dealer that we CAN get that outperform the originals. So muscle cars get just a passing thought or comment by many of us while lining up financing for a 2013 R/T. Is this strike three?
I do want to say though, that while I love the new cars too, there is nothing like being behind the wheel of a muscle car. It's not about the power, the lack of handling--whatever--it's about how being behind the wheel makes you FEEL, and no new muscle car can even come close to duplicating that, 650 horsepower or not. Unfortunately again, people my age can't afford them so they never realize this. Even if they can afford them, very few of the young guys who buy a new Mustang GT or Challenger can afford to have it purely as a weekend toy, like a muscle car would have to be. Most people buy the new cars with intentions of daily driving them, or at least somewhat dailying them in nice weather since they can also get close to 30 mpg despite 400 horsepower.
So where are the values of the original muscle cars headed?
Like I said, I'd love a '68 R/T, but I can't afford one now, and despite being a chemical engineer and making the kind of money that should allow me to have something like that, Im fighting an uphill battle just to buy a house, which I'm a few years off from. Wife will likely want kids then, and then by the time they empty nest and I'm 50 or 60, these cars will be 60-70 years old, but those my age will probably look more towards the cars they grew up with--the 5.0 Mustangs and IROCs of the '80s, which is starting to happen already (many IROCs are going for close to $20k for a low mileage original). For the record my first car was a 1990 Camaro RS, which I still have 13 years later. I grew up in the '80s/'90s so that's what was affordable when I was 15, just how it was and I won't let it go for anything. Daily driver is a '98 GT.
So what do you guys think will happen to these cars as time goes on? I saw a '70 Hemi 'Cuda listed for $230k this morning. How long can it stay at a price like that, as the interest is lost as baby boomers pass on and guys my age don't even give muscle cars a thought in this new era where times are MUCH different? On one hand I feel like the value/bubble will burst, but on the other hand I don't see a $230k 'Cuda halving in value anytime soon, either.
Thoughts?
And, just because I want to show you guys, here's a pic of the 305 slug that my generation remembers as kids and will probably look to in the future:
I'll preface this by saying I love muscle cars of all types (though a '68 Charger is and has been the dream for half of my life, and a '70/'71 Cuda would be the next car after that). I also just turned 28, so I'm on the younger end of the spectrum.
Where do you guys see the values of muscle cars going in the next 20-30 years?
Prices may be "down" now, but they are still far too expensive for many; seems you need at least $20k to get a non-numbers driver in halfway respectable condition, or $8k+ for a total basketcase needing a total restoration. In particular, they are definitely too expensive for younger people such as myself, who face a lot of challenges in terms of lack of upward mobility, home ownership, lack of pension and lifetime employment, etc. It's also an era where everything has a bill to go with it, be it TV, internet, cell phones--all things that weren't around 30-40 years ago. Plain and simple, the cost of living is much higher for young people today, poor economy and high gas prices aside. So, without going political, the cars have that working against them. People my age simply can't afford them. That's strike one.
Beyond that, this is an era where anyone can drop their dimes at the dealer for a 400+ hp car that can run 12s off the floor, pull .9+ Gs on the skidpad, and idle in traffic smoothly with the AC and stereo blasting, or heat your *** through the comfy leather on the cold days. In other words, the cars today can do everything the muscle cars can do, and many things they can't. All with a warranty and no work beyond checking the options boxes. It is a mighty fine time to be buying a new Mustang/Challenger/Camaro, especially with editions like the SRT-8, ZL1, Boss 302, and GT500. Certainly no limit to options. While most of these cars are still too expensive for someone my age, you can get into some base V8 cars for under $30k, which isn't too bad for what you get and the ease of obtaining financing. The superior performance of the current models and their appeal to the younger guys is strike two for the original muscle cars.
Finally, and perhaps a bit touchy, is that the baby boomers who love and know these cars, and have the means to restore and own them, are aging quickly. Someday in the next 20 years, there will be very few baby boomers left, which is a shame as a tremendous wealth of knowledge will be lost, because quite frankly most people in my age bracket just don't know/care. Many of us may think the cars are cool and respect them, but at the end of the day we can't afford them and there are hot new ones at the dealer that we CAN get that outperform the originals. So muscle cars get just a passing thought or comment by many of us while lining up financing for a 2013 R/T. Is this strike three?
I do want to say though, that while I love the new cars too, there is nothing like being behind the wheel of a muscle car. It's not about the power, the lack of handling--whatever--it's about how being behind the wheel makes you FEEL, and no new muscle car can even come close to duplicating that, 650 horsepower or not. Unfortunately again, people my age can't afford them so they never realize this. Even if they can afford them, very few of the young guys who buy a new Mustang GT or Challenger can afford to have it purely as a weekend toy, like a muscle car would have to be. Most people buy the new cars with intentions of daily driving them, or at least somewhat dailying them in nice weather since they can also get close to 30 mpg despite 400 horsepower.
So where are the values of the original muscle cars headed?
Like I said, I'd love a '68 R/T, but I can't afford one now, and despite being a chemical engineer and making the kind of money that should allow me to have something like that, Im fighting an uphill battle just to buy a house, which I'm a few years off from. Wife will likely want kids then, and then by the time they empty nest and I'm 50 or 60, these cars will be 60-70 years old, but those my age will probably look more towards the cars they grew up with--the 5.0 Mustangs and IROCs of the '80s, which is starting to happen already (many IROCs are going for close to $20k for a low mileage original). For the record my first car was a 1990 Camaro RS, which I still have 13 years later. I grew up in the '80s/'90s so that's what was affordable when I was 15, just how it was and I won't let it go for anything. Daily driver is a '98 GT.
So what do you guys think will happen to these cars as time goes on? I saw a '70 Hemi 'Cuda listed for $230k this morning. How long can it stay at a price like that, as the interest is lost as baby boomers pass on and guys my age don't even give muscle cars a thought in this new era where times are MUCH different? On one hand I feel like the value/bubble will burst, but on the other hand I don't see a $230k 'Cuda halving in value anytime soon, either.
Thoughts?
And, just because I want to show you guys, here's a pic of the 305 slug that my generation remembers as kids and will probably look to in the future: