Classic Cars That Are Pretty Much Worthless Today
Classic cars are the pinnacle of automotive culture. More often than not, they offer a unique driving experience that's unlike anything made today. Not all classic cars are created equal, though.
From luxurious European sedans to Japanese sports cars, many older vehicles end up forgotten. As a result, their resale value takes a plunge. See which of the older automobiles have suffered the highest loss in value over the last years. Read on to find out!
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Chevrolet El Camino
The Chevrolet El Camino was a unique vehicle that blended the practicality of a pickup with the comfort and styling of a regular car. Produced from 1959 to 1987, the El Camino had quickly become a cult classic.
Despite its popularity, the Chevy El Camino experienced significant depreciation in recent years. Changes in consumer preferences, limited demand for utility vehicles, and the availability of more practical and efficient options have contributed to its downfall. The majority of El Camino variants can be picked up for just a fraction of their original MSRP today.
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Ford Torino
Success in NASCAR caused the Ford Torino to gain its reputation in the late 1960s. The iconic Torino Talladega was a race car based on Ford's flagship midsize.
Racing heritage was not enough for the Torino to hold its value. A change in market preferences, rising fuel costs, and the introduction of newer vehicles that were able to outperform the once-unbeatable Ford Torino are to blame. Today, the vehicle serves as a great entry-level classic car for petrolheads on a bit of a tighter budget.
Chevrolet Corvette C3 (1980s)
The third generation of America's first sports car saw a long production run that started in the second half of the 1960s and continued all the way into the early 1980s. Although the C3 was a modern car when it first launched, the model struggled to keep up with the changing market over a decade later.
By the early 1980s, the C3 was already somewhat dated. GM offered the car with the L-48 V8 engine that made only 180 horses, a far cry from the big-block variants from a decade earlier. As a result, the late-production C3 Corvette is among the cheapest legendary classic cars money can buy.
Lincoln Continental
The history of this luxury vehicle dates back all the way to the late 1930s. As one of Lincoln's flagship models, it quickly gained a reputation for its elegant design, spacious interior, and refined driving experience. The production of the model was only discontinued in 2020.
Despite its initial prestige, the Lincoln Continental has experienced notable depreciation over time. While earlier generations, such as the iconic '60s models, hold their worth well, later generations have seen a significant decline in value. This depreciation presents an opportunity for those seeking a luxurious and comfortable ride at a more affordable price point in the classic car market.
Dodge Charger
There is no denying that the original Dodge Charger is easily one of the most significant muscle cars in the world. Believe it or not, some variants of this automotive icon are nowhere near as valuable as the rarest trim levels.
Some later generations of the Charger, especially those with higher production numbers or the ones powered by weaker engines, have experienced rapid depreciation. Models from the early 1970s don't hold their value anywhere near as well as their older counterparts.
Ferrari Mondial
The Mondial was unlike any other Ferrari. Back in 1980, the Italian automaker released this four-seater sports car as a more practical alternative to the other Prancing Horses.
As expected, most die-hard Ferrari fans weren't too fond of the Mondial. The departure from Ferrari's traditional mid-engine, two-seater sports car philosophy made the Mondial a lot less desired than its alternatives. As a result, the Mondial has become a more affordable entry point into the world of Ferrari ownership, making it an attractive option for enthusiasts seeking a distinctive and accessible classic Ferrari experience. It remains one of the most affordable classic Ferrari models money can buy.
Chevrolet Camaro Z28
The Camaro underwent a much-needed update in the early 1980s with the release of the third generation of the iconic muscle car. The new Camaro featured improvements in handling, a new aerodynamic design, as well as various V8 engine options to choose from.
Reliability concerns caused the third-gen to plummet in value shortly after its release. An underpowered variant equipped with GM's 305-cubic inch V8 motor rated at barely 190 horsepower certainly didn't help, either. At one point, these bad boys could be picked up for just a few thousand dollars.
DeLorean DMC-12
The DeLorean DMC-12 is an iconic sports car that gained worldwide fame after appearing in the "Back to the Future" movies. Introduced in 1981, the DeLorean was envisioned as a futuristic and innovative vehicle with its stainless steel body and gull-wing doors.
Sadly, the performance of the Delorean did not match its extravagant looks. The vehicle was severely underpowered and handled awfully. Additionally, a high-profile legal case involving the company's founder, John DeLorean, further impacted its reputation. As a result, the DeLorean DMC-12 became a symbol of failed automotive ventures and experienced a substantial decline in value.
Cadillac Allante
Cadillac introduced the stylish Allante in the late 1980s. This drop-top was designed to compete with classy European sports cars while maintaining a domestic price tag. The body was even designed by Italian coachmaker Pininfarina!
Sadly, the Allante suffered from serious quality control issues, high production costs, and strong competition from established luxury brands. Skyrocketing maintenance costs successfully scared buyers and owners away, resulting in the car absolutely plummeting in value.
Renault Le Car
The Renault Le Car, also known as the Renault 5 outside the US, made its debut in 1972 as a compact hatchback. It quickly gained popularity for its efficient design, affordability, and practicality.
Owners quickly found out that the Le Car suffered from serious reliability issues, as well as a lack of parts and servicing within the US. As a result, this cute little hatchback quickly plummeted in value and hasn't really regained it ever since.
Buick Riviera
The Buick Riviera is a luxury coupe that made its debut in 1963. It was introduced as Buick's flagship model, embodying elegance, power, and cutting-edge design. The iconic Boat Tail designed, offered for the 1971-73 model years, remains among the most iconic variants of the car.
Despite its gorgeous looks, the Buick Riviera saw significant depreciation over the years. The demand for powerful luxury coupes practically vanished following the oil crisis. There was no place on the market for vehicles such as the Riviera anymore.
Alfa Romeo GTV6
Alfa Romeos are among the best-looking automobiles in the world, and the gorgeous GTV6 is no exception. This sports coupe, initially released in 1980, features a rear-wheel drive layout and a great-sounding V6 engine.
Unfortunately, Alfa Romeo cars are also notorious for reliability issues and high maintenance costs. The GTV6 quickly declined in value shortly after its discontinuation in the late 1980s. Today, a well-preserved unit can be picked up for a fraction of its original MSRP.
Porsche 928
The Porsche 928 is a grand tourer that made its debut in 1977, aimed at providing a luxurious driving experience with powerful performance. It was Porsche's first front-engined V8-powered sports car, designed to compete with high-end GT models.
However, the Porsche 928 has experienced significant depreciation over time. Factors contributing to this include the initial high cost of ownership, expensive maintenance and repairs, and a shift in market preferences towards more traditional rear-engined Porsche models. Despite its excellent handling and innovative design, the 928 faced challenges maintaining its value in the used car market. As a result, it has become a more accessible option for Porsche enthusiasts seeking a unique blend of luxury and performance at a more affordable price point.
Chevrolet Caprice
The Chevrolet Caprice is a full-size sedan that first hit the roads in the middle of the 1960s. The flagship model attracted potential buyers with generous space, luxurious comfort, and an array of robust engine choices.
Not long after its 1965 debut, the demand for large gas-guzzling sedans vanished. The bulky Caprice became dated, with buyers flocking to more fuel-efficient alternatives. As a result, the Caprice's value has dropped considerably and has never returned to its former glory.
Fiat X1/9
The Fiat X1/9 is a two-seater sports car that made its debut in 1972. Designed by Bertone, it featured a mid-engine layout and a removable targa-style top, offering a thrilling driving experience combined with open-top fun.
Unfortunately, the Fiat X1/9 has experienced significant depreciation over the years. Factors contributing to this include reliability issues, difficulty in finding parts, and a decline in demand for older European sports cars. The X1/9's depreciation has made it an affordable choice for enthusiasts seeking a unique and quirky classic car. Despite its lower resale value, the X1/9's charming design and mid-engine layout still hold appeal for those looking for a distinctive and engaging driving experience.
Triumph TR7
The Triumph TR7 is a sports car that made its debut in 1975. Designed to be a modern and affordable sports car, it featured a wedge-shaped design and a 2.0-liter engine, aiming to capture the spirit of the era.
However, the Triumph TR7 has experienced notable depreciation over time. Factors contributing to this include quality control issues, reliability concerns, and changing market preferences for more classic and revered sports car models. The TR7's depreciation has made it an accessible choice for enthusiasts seeking a unique and budget-friendly classic car experience. Despite its reputation, the TR7 still holds a dedicated following and offers a distinctive driving experience for those who appreciate its unique design and British heritage.
Chrysler TC by Maserati
The Chrysler TC by Maserati was a luxury convertible introduced in 1989 as a collaboration between the two automakers. Similar to the previously mentioned Cadillac Allante, the aim was to combine American luxury with Italian performance.
Unsurprisingly, buyers didn't really want to pay a Maserati price for a Chrysler. The sales figures were low, and the model was quickly retired just a few years after its debut. The remaining units plummeted in value due to high maintenance costs. The now-forgotten TC can be a good deal for buyers on a budget who are looking for a quirky, unique ride.
Saab 900 Turbo
The Saab 900 Turbo is a classic car that made its debut in 1978. This Swedish model has gone down in automotive history as the first mass-produced turbocharged car. Buyers were drawn in by the Swedish design, practicality, and performance.
It was far from perfect for Saab, though. The company had already been undergoing financial struggles, and the 900 Turbo's limited availability of parts and a decline in demand for older European vehicles only made matters worse. This model lost the vast majority of its value just years after its initial debut.
BMW M3 E46
The BMW M3 E46 is a high-performance sports car based on the 3-Series that made its debut in 2000. Impressive performance, precise handling, and a powerful inline-six engine under the hood all ensured that the fourth-gen M3 stayed true to its roots.
The BMW M3 E46 experienced a significant depreciation shortly after its discontinuation in 2006. The introduction of newer M3 models, skyrocketing maintenance costs, and the availability of alternative sports cars from Audi and Mercedes have contributed to its declining value. Today, the depreciated prices have made the E46 M3 a more accessible option for enthusiasts seeking a thrilling driving experience without breaking the bank.
AMC Pacer
The AMC Pacer is easily one of the most unique American cars of the 20th century. This cute car was designed as a response to the growing demand for smaller fuel-efficient vehicles following the oil crisis. Its distinctive bubble-shaped design quickly became iconic.
It seems as if the styling may have been too unconventional for American buyers. The Pacer was also pretty basic, and many owners reported reliability issues, causing the car to drop in value significantly. Today, however, the prices are on the rise again as well-preserved examples have become nearly impossible to find.
Jaguar XJ-S
Creating a successor for an automobile as legendary as the Jaguar E Type is no easy task, and the British manufacturer knew it. The XJS is a luxury grand tourer that hit the market in the mid-1970s, offering the best of the Jaguar DNA- elegance, comfort, and high performance.
Unfortunately, this Jaguar was notorious for reliability issues. Units equipped with the optional V12 motor were the worst offenders. The XJS always remained overshadowed by its iconic predecessor, causing the car to drop in value radically shortly after its debut. The XJ-S still embodies the timeless charm of a Jaguar grand tourer for what has now become a very affordable price tag.
Mercury Capri
The Mercury Capri is a compact sports coupe that debuted in 1970. Originally introduced as a European import, it aimed to offer American consumers a taste of European styling and performance.
However, the Mercury Capri has experienced notable depreciation over the following decades. Buyers weren't too fond of what was essentially a rebadged Ford Mustang. Despite its lower resale value, the Capri still holds nostalgic value for some, representing a chapter in automotive history when American and European influences merged to create a distinct and sporty coupe.
Volkswagen Karmann Ghia
The Volkswagen Karmann Ghia is an underappreciated German icon that debuted in the mid-50s. Designed in collaboration with German coachbuilder Karmann, the car combined the mechanical components of the Volkswagen Beetle with a sleek body.
The use of a Beetle powertrain did cause the Karmann Ghia to be nowhere near as powerful as its competitors, though. Rival sports cars released by other German automakers, such as the Mercedes-Benz SL, were better than the Volkswagen in virtually every single way. There weren't many logical reasons that would make potential buyers pick a Karmann Ghia over its competitors, causing the resale value of the car to decline dramatically.
Chevrolet Chevette
The Chevrolet Chevette is a subcompact car that debuted in 1975. It was designed to offer affordable transportation in response to the rising demand for smaller and more fuel-efficient vehicles.
Most buyers and ex-owners would agree that the cars' lack of build quality, a limited array of features, and the availability of more advanced and modern compact cars all contributed to the eventual downfall of this model. The Chevette has made a mark in automotive history as an accessible and economical choice for everyday driving, although a high resale value is certainly not its strongest point.
BMW 3 Series (E36)
The BMW E36 made its debut in 1990 as the successor to the E30. The car offered a significant evolution in design, engineering, and technology compared with its dated predecessor. The E36 became a favorite among buyers, notably for its precise handling, balanced performance, and engaging driving experience.
While the E36 has experienced rapid depreciation over time, it remains a popular choice among BMW enthusiasts who appreciate its classic styling, driving dynamics, and the opportunity to own a piece of BMW's rich automotive history. Base models in decent condition can be picked up for as little as a few thousand dollars.
AMC Gremlin
The AMC Gremlin is an economical and practical vehicle; its development targeted the growing demand for smaller cars during the fuel crisis. The model hit the market in the early 1970s, right as the demand was expected to boom. The Gremlin was pretty much set up for success.
However, the AMC Gremlin wasn't as successful as AMC had hoped. The unconventional design of economic cars, as well as the lack of quality compared to competitors, both caused the resale value to drop drastically. The demand for this particular segment disappeared after the 1970s, too, further affecting the car's value.
Ford Granada
The Ford Granada is a mid-size car that made its debut in 1975. It was introduced as a more luxurious and upscale alternative to the Ford Maverick, catering to the increasing demand for comfortable family sedans.
Sadly, the performance of the Granada simply wasn't as good as its competition. The vehicle was also notorious for reliability issues. On top of all this, the design quickly became dated, and the Blue Oval struggled to keep up. As a result, the resale value of the car plunged.
Ford Pinto
The Ford Pinto is a subcompact car that was introduced in 1971, shortly after the oil crisis. It was designed to be a small, affordable, and fuel-efficient option for the growing demand for compact cars.
However, the Ford Pinto's reputation was marred by a series of safety issues and scandals. A controversy surrounding its fuel tank design, which made it susceptible to exploding in rear-end collisions. The awful perception of the Pinto also resulted in its value crashing dramatically.
Mercedes Benz W210
It is no secret that luxury vehicles are among the worst offenders when it comes to rapid depreciation. Buyers of a brand new Mercedes-Benz E-Class or a BMW 7-Series should expect to lose at least 50% of the car's MSRP just a few years within driving off the lot.
The W210 generation of the Mercedes-Benz E-Class, produced throughout the late 1990s, is a prime example. Once a modern and extremely desired, classy sedan, the car has become practically worthless just years after its initial debut.
