With the economic downturn, recession, depression, or whatever you want to call it, we already know that new car sales are taking a long vacation from existence. And cars like the Ferraris and Alfa 8Cs of the world shouldn’t have too much trouble selling, since there are still millions of millionaires. But how about the muscle cars? By and large, the boom in muscle car prices was the result of nostalgic shoppers, laying out significant – but not exorbitant – sums for the dreamcars of their youths. We’re talking about people that had been buying and selling drivable muscle cars in the $20k to $50k range, not just the Barret-Jackson shopping insanity. With financial “gurus” like Jim Cramer telling punters to cash-out all their investments, we can expect a glut of reasonable condition cars on the market, as folks look to pick up more money before the storm. And then consider that in the context of a hugely reduced buyers’ market: how many people are looking for five-figure toys these days? I’m far from an expert, but I’d guess we will see something on the order of a 60 percent drop in the market values of cars like Camaros, Mustangs, Chevelles, and Pontiacs. The rarer and collectible models will no doubt fare better, as these tend to go to buyers that do more polishing and less driving (if ever). While some sellers may decide to hang on to their cars because there are so few buyers, there will still be plenty of cars on the market. It’s a buyer’s opportunity, no doubt about that. If, like me, you’ve ever just wanted an AMC AMX in the driveway, the next few years might be the time, should you be employed.
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