It's an odd world we're living in at the moment. It has made a lot of people do some re-evaluating of their quality of life. One of the interesting side effects of this was the global upswing in the value of second hand cars. Yes, you read that right. Second hand cars have gone up a LOT in the last twelve months. I guess importing takes longer, a lot of us are working from home... and people have time to build those projects they never had before. I like a project as much as the next man, but I wanted to raise another idea instead.
Driving your classic car everyday.
This is different to a "project car" in a few ways.
A. You actually have to use it all the time.
B. It has to be what you need (rather than a dream).
C. Endless repairs and ridiculous mods are not an option.
You might think I'm insane, but I've been doing this for about the last decade or so. First with a VW buggy, then a 56' beetle, then a 98' Subaru WRX and lately, a Datsun 1600 (510). The dazzling upside with all of this is...
My car didn't depreciate every year.
In fact, during the time I owned the first three, they went up in value. Mostly paying for the all upgrades I'd made on them and only they letting me down once. Pretty good for cars that were up to 65yo. My kids have loved them. I've taught them to drive on a manual. And, if you're a greeny, you can pat yourself on the back because the carbon foot print of your old clanger will always be less than a new Prius.
So what's the trick?
1. Popularity.
Buy something you could sell tomorrow. Ie. something that is always popular. I wanted a Datsun 180B but I bought the 1600 because I knew they were more valuable. Popularity means more parts available, like rust repair panels. It will also mean there are a host of easy, affordable upgrades when you need to move on from the standard parts.
2. Start with a good base.
Find something complete and preferably running. You want the whole interior, heater, etc. The more it has (even if it's a little shabby), the sooner you can rego it and enjoy it. Avoid "bare shell" build ups. Try and find a car with good original paint with a good past. This not Roadkill. The less you have to fix, the better off you are.
3. Have a budget.
Most of us are tempted to throw the cheque book at old cars to "fix" all the bad bits. Now sure, there are things like rust and worn out bits that need attention. However, I'd avoid ridiculous brake and engine swaps that costs cubic dollars and require lots of permits. I bought my car for $7500 knowing I could spend another $7500 on repairs and rego and sell it straight away.
4. Put it on full road rego.
I know some places have limited rego (club rego) for older vehicles. Avoid this. It usually comes with limited mileage and makes the car harder to sell when you need to. It also stops you driving it every day, because that's what you'll want to do.
Other things to consider
1. You'll need to get your hands dirty.
If you're completely useless with tools, this is probably not an option unless you make a LOT of money and have a good (patient) mechanic. Because there will be things to fix. My datsun needed most of drive train replaced, all the brakes, the radiator, the exhaust and the fuel system. At this point it has no working heater either. I fully expect it will need a new engine (I've already bought a spare) and gearbox at some stage. Having said that, everyone has to learn somehow and most people can learn. Just be aware.
2. You'll need to stockpile some parts.
As cars get older, keeping an eye out for bargains and stashing them is part of keeping them going. The good news is, a lot of the more common things are freely available or being reproduced, but some are not. Facebook market place (or similar) is your friend for used parts.
3. You'll want to find a specialist.
The local specialist is your go to guy when driving your car regularly. Mine has been working on Datsuns and race cars for more than 40 years. My VW specialist was similar.
4. Don't expect every mod con.
Sure, you can install electric everything in the car at a premium cost, but that's not the point. My current stereo is a cheap bluetooth speaker hooked up to my phone. Old seats aren't as comfy, but the overall experience is great and people will enjoy your car as much as you do.
5. Upgrades worth doing.
Older cars suffer in two areas that can let you down in daily driving. Braking is the first. Modern cars have excellent brakes. So look for similar larger models you can swap brakes in from. Power assisted brakes also make life easier. The second is obviously engines. Power is one thing, but fuel economy is bigger for day to day driving. In this respect, EFI will always out-perform carbs. Look to factory options or consider an aftermarket system. The cost will be roughly the same as hipo carbs anyway. Power steering is another option you might like to install to make life easier for tight car parks. Electric columns can be put in from late model cars to allow this too.
What cars are good value?
I personally feel the world is at a turning point with cars. The car as a machine is in decline. At the same time, more cars being produced are heavy, front wheel drive (FWD) and auto. So if you want something fun, go light, rear wheel drive (RWD) and manual. Also, the only RWD cars being produced now besides utes are the MX5, BRZ, Kia Stinger and euro luxury cars. I'd consider the following. Anything RWD will be worth real money in a decade. Even things we'd currently send to the crusher.
All of the smaller RWD Datsuns from the 70-80's (Stanza is the ultimate bargain atm).
Nissan skylines.
Rear wheel drive Toyota Corollas and Coronas.
Old Falcons and Commodores.
Small utes.
80-90's BMWs (1990's are dirt cheap atm)
(I haven't included Mazda rotaries because their current value precludes any sensible daily driving. That and their propensity to drink fuel.)
An electric future
One of the greatest things happening with old cars at the moment is electric repowering. I'm personally looking forward to all the crashed Teslas and putting some of their tech in my car. Electric skids!
