Car Depreciation – What are Those Old Classic Cars Worth?

car depreciation

Because of our experience in the used car industry, we know that most car depreciation happens quickly, unfortunately. But what about those Corvettes, Cudas, and GNXs from a few decades ago? According to a recent article at Fox News, some of the models have increased in value – substantially. We were quite shocked to see what some of these cars would bring today.

If you’re old enough to remember the 1967 Chevrolet Corvette L88 Coupe, you may be surprised to learn that the same car that cost about $37 grand then could sell for upwards of $3 1/2 million today, IF it’s in great condition. Of course this was the rarest and most sought after of all Corvettes, but if you own one now would you keep on enjoying the ride, or profit from it?

Anyone out there remember the 1971 Plymouth Hemi Cuda? In December of ’83, this car could be had for about $12,000. Today, one in showroom floor condition could bring in anywhere between $160,000 and $358,000. While the convertible is the most sought after of the rare vehicle, hardtops are also a rarity with only 59 ordered complete with Hemi and 4-speed transmission.

Last, but not least is the 1987 Buick GNX, priced in 1989 at about $35,000. What would you pay for this car today, if it was in perfection condition? Up to more than $120,000. The GNX was one of the most intimidating and sinister cars in terms of appearance in the ’80s. Because there were less than 550 produced, the GNX is one of the most collectible cars today.

Few vehicles grow considerably in value over several decades, but these three certainly have! Great info for collectors who are passionate about older vehicles.

Are you thinking about selling your used car for cash in the Honolulu area? At CarMark Hawaii, we buy used vehicles for cash. Our top priority is giving our customers a fair deal and quick service. Whether you need money to pay the bills or to use for vacation or other pleasures, we make the process easy and painless. Give us a call today, and let’s see what kind of deal we can work!