How to Price a Non-Collector Car?

This isn't quite an odd question, I guess, but I can't seem to find an answer anywhere.

Let's say an very good to excellent condition car from the late 80's to early 90's is for sale today. It has very low miles for its age, e.g. 30k-40k, is showroom quality, it's somewhat unique, but it's not a collector/classic car per se, like a Corvette or even a 300ZX. So how does one valuate such a vehicle?

Call me absolutely nuts, but I have a thing for an old 1988 to 1992 Chevy Cavalier Z24, either coupes or convertibles. I wouldn't mind cruising around in one to relive some old memories and just have some fun as a weird car to have in 2019. There are not too many of these left that are in "collectible" condition as they've either all been beaten to hell as a daily driver, or resting in a junkyard, or have already been scrapped, shredded, melted down and exported to China so they can build a bridge.

KBB and Edmunds prices these cars at about $1200-$2500 for an excellent specimen with 1 mile. Seems stupid, but maybe that's why these cars don't really exist anymore?

 

Collectible Qualities = $$$$$$

They are in the eyes of the buyer and the seller. Hot, sporty, fast, exclusive, rare, limited, chic magnet, etc etc.... If you can use any of those qualities on a car you are looking for then expect a higher price. And it might just be that you and only others like you would be willing to pay up for one that was not necessarily anything special.

 

I agree with all of your points. I guess my concern--and questions--mainly deal with little to no data on these types of cars. They're over 25 years old, but they're just domestic time capsules pretty much. Therefore, valuation tools like Hagerty does not have such vehicles in its list; only true classic, exotic, and collector cars. One does not have any past sales and market data to refer to. I guess it's just plain old negotiation between the buyer and the seller...

 

Well then just go with the usual. Condition of engine, transmission, body (rust etc), electrical, frame etc etc.. Do your homework and make sure you can find parts for it too, before you buy it.

 

Nostalgia has cost me so much time and money. I think you have to consider how much money and time you are willing to spend to relive those memories. Is it a one and done thing or is it going to be something you’ll enjoy reliving year after year?

 

Right! Definitely thought about the parts issue.

Lol, probably not a good idea overall...after all, the memories don't really need to be relived. Maybe it's all the car shows on YouTube (Doug Demuro, for example) and watching shows like What's My Car Worth on Velocity/Motor Trend that are making me a little nostalgic for older technology.

I owned a '92 Z24 coupe back in the mid 90's, and it was a fun, simple car. It had some pep, it was easy to work on, and it was excellent on gas. That 3.1L V6 was a great motor too. This was all before GM ruined the car in 1995 with a complete redesign and drove it into the ground by the early 2000's. I'm quite familiar with the vehicle as I did my own repairs on it back in the day. Anyway, I've thought more about the convertible more than the coupe, especially since Arizona has the perfect weather for some sun-down night cruising abilities! So I think it would be something I could enjoy year after year.

 

I'm coming back to this thread for a little more insight, or maybe a just a swift kick in the head!

If a decision seems to be so difficult where you don't have a clear answer, even after much debate and info-seeking, then probably it's best to just walk away, right? I've been racking my brain on trying to "make it work" for the last month straight. However, I just can't seem to pull the trigger.

I've been in contact with an owner of a "showroom quality" 1993 Z24 convertible with 40k miles on the odo. Near perfect condition, no rust, no major mechanical issues, AC retrofited to R-134a, top in top quality, etc. The car really is, and I've seen pictures to prove it. Here's the kicker: it's across the country on the southeast coast now (originally here in AZ). I missed the owner by 1 or 2 weeks before he move! Up until a few weeks ago, I almost went out to the southeast to see it and drive it, but chickened out and also couldn't justify the cost of airfare, rental car, and hotel for one night. It's too far to drive back if I bought it, so I'd have it shipped. Again, big bucks (about $1100). Anyway, seeing the pictures of various panels and under the car, I confirm no rust. Found out where the guy had the car maintained and called the local shop here in AZ. The mechanic remembered the car well and reported no issues. With that in mind, I was prepared to buy the car "sight unseen," maybe taking a gamble...maybe not. The second part of the story is that my garage space is limited right now, and I don't care to sell off my other fun car, a modified 05 WRX. So what does that leave me? Due to HOA rules (and also the blazing sun), I can't and don't want to park any vehicles outside in the driveway...so the only option is to get a 10x20 storage unit at about $160/month.

So is this about the stupidest thing you've ever heard? What's my problem? Why can't I just let it go? Maybe I need to see a psychologist!

We could chalk it up to a mid-life crisis. I don't think any man is immune to that....but a 1990's Cavalier??! Shoot, if it was a smokin' deal on a beater Ferrari or an old classic Vette or something, then I would definitely make it work! But a 90's-era J-Body?!?!? Damn, man!

Thanks for any insightful treatment!