Why bargain cars of the 80’s fetch huge money

Nostalgia. What a brilliant, awful thing! Especially when it comes to cars.

 

If you’re anything like me, you grew up with your dad buying mk4 Escorts and similar cars for £30 a piece, using them til they rusted out, then repeating the process again. On the housing estate I grew up on, there were Sierras, Jettas, and Cavaliers, on nearly every driveway. And this is only the early 2000’s we’re talking about here

The fact is, after a while, new cars such as the mk3 Mondeo at the time were taking peoples fancy, and by the time we got to 2007/2008, the boxy 80’s cars we now call classics were almost obsolete (thank you scrappage scheme).

Most people however would prefer their shiny new insignia’s, and why not? They’re better equipped, finance is appealing to the masses, and parts are everywhere. So why are cars from the 80’s so expensive again?

The Sierra Rs Cosworth. No this car is not to blame for the ridiculous prices, but it is one of the higher priced 80’s cars out there; ranging anywhere from £10k to £120k (depending on condition, Sapphire or 3 door, etc). Everyone remembers seeing one of these boosting round your local roundabout, usually driven by someone with a baseball cap on, and now they can cost £120,000. What?!

The Vauxhall Nova is a prime example too. The car dubbed the thief magnet by the media, the car that was always being written off by 17 year olds, and now, some examples are advertised at over 60 grand! Madness.

Now, these insane prices may seem too much, but remember, the consumer controls the price. If people would stop paying ridiculous money for 80’s motors, the more common folk such as myself could enjoy them. So if you have a nostalgic family member with way too much money, do the poorer of us a favour, and keep them away from the car auctions.

“I agree that the answer lies in supply and demand. Whilst classics from the 80’s were recently affordable, they’re getting thinner on the ground. Baby-boomers who had these hot hatches and family cars in their twenties now have the disposable income to spend top Dollar for their mid-life crisis. The incentive is made more appealing by historically low interest rates for savers, who want to earn a quick profit from hoarding classic cars. Rapidly, it appears that those from the early 90’s are getting sucked in too.” – Mike Armstrong (Editor-in-Chief).

by Alex Young

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