When it comes to investing in vintage automobiles, not all classics deserve their status.
Just ask Chris Pyle, a veteran mechanic and automotive expert at JustAnswer, who’s seen his fair share of restoration dreams turn into financial nightmares.
“If you’re buying an old vehicle to make nice for yourself, don’t listen to anyone’s opinion on it. If it makes you happy, that’s all that matters,” Pyle noted.
“But if you’re wanting to get old vehicles to fix up and sell, then you need to stay away from the ones that very few people are interested in owning.”
The Chevrolet Corvair: A Collector’s Dead End
Once celebrated for its innovative rear-engine design, the Corvair now sits in restoration limbo.
“No one now thinks they are cool like they were back then, plus parts are slim picking,” Pyle remarked.
The scarcity of replacement components makes this classic more headache than heritage.
Ford Mustang Ii: The Pony Car’s Problem Child
Not all Mustangs are created equal, and the Mustang II proves this painfully true. As Pyle explained, “They don’t look that great and they are weak. You have to put a bigger motor in it, which kind of takes away the meaning of classic.”
What’s the point of preserving history if you have to fundamentally alter it?
Chevrolet Vega: The Money-Draining Dream
Some classics simply aren’t worth the investment, no matter how much you spend.
“You can spend thousands to make it a peach, but it will not turn heads, and you will end up with an overpriced car you cannot sell,” Pyle warned.
The Vega represents the perfect storm of high restoration costs and low market appeal.
Plymouth Superbird: The Showroom Showoff
While this aerodynamic icon turns heads, it rarely turns a profit.
“Super cool, but only for a minute,” noted Pyle. “People love to look and touch them but are not thrilled about sinking 20-30k on one to show off.”
It’s a classic case of admiration not translating into actual buying interest.
1980s Pontiac Firebird
Pyle’s assessment of the four-cylinder Firebird is particularly cutting: “It had a 4-cylinder 90-horse engine. My lawnmower has 24 HP, so you can imagine how boring this car was. All the thrill of Smokey and the Bandit, and the take-off speed of a VW bug.”
It’s a sobering reminder that not everything from the ’80s deserves nostalgia.
Porsche 911
Even iconic German engineering has its investment pitfalls.
“You are going to spend the bank making this car awesome, then struggle to find a buyer,” Pyle observed. “People are too afraid to drive them around other cars. So you are basically selling a car that sits in a garage.”
What good is a perfect restoration if it never sees the light of day?