Why I Am Excited About the Future Market of Project Cars

Recently I have been browsing the classifieds in hopes of unearthing my next potential project. I’m too broke to get one now but one can dream! In my mind that still thinks 1990 was 10 years ago, I look for old Datsun 240z’s, Fiat Spyders, and Mazda MX-5s still thinking that their run down, project ready examples will still be in the triple digits USD. However, after several hours of underwear changes, I realized something; as someone with a low budget and a couple years before I can realistically obtain a car to call my project, I need to look elsewhere.

I do not have $4,000 for a 240z with no transmission, $3,500 for a ‘73 Camaro that “needs work but runs good” or anything really over $2,000 for something that doesn’t run or is missing half of its body. And that got me thinking again. Where did the $800 heaps of classic cars go? Where will the project car market be in 5 years? I chose that time because I plan on having a career and place of living with a wife by then and can store a project car and provide for it accordingly!

Looking at my most recent purchase; a 1999 Audi A4 2.8L Quattro with most every feature ticked for only $1,200 and running perfectly(ish), I suspect that cars 15-20 years old from 2023 will be prime targets. I am no economics or used car specialist but this may be the lowest point in value in the largest array of cars.

Let’s take a look at some of the prospects for both affordability, drivability, and cool..ability? First up the Nissan 350z (Z33): currently averaging around $4,000 when priced by those who know that adding an exhaust, coilovers, and a chip-tune doesn’t make your car worth twice as much. And that’s for versions that run well. These same examples could be in the several hundreds in project ready form in just 5 years. What makes these so appealing is their 3.5L V6 with 287 HP and 274 lb-ft of torque in the 2004 model. The reason I point this out is that this particular model sold the most in America (apologies if that isn’t the case across the pond) and is also the most common to come up when searching online. While this is 19 less HP than their most powerful model in 2007-08, it does have 6 more torques and many more options on the used market, lowering values.

Second, the Jaaaaggg XJ8 (X350): Ranging from a 201 HP 2.7L V6 turbo diesel to a 390 HP supercharged 4.2L V8, prices are around $6,000 for a 2004 model with high mileage in 4.2L V8 form. Even as is, $6,000 for a fully functioning XJ8 in good condition is a good deal, but perhaps in 5 years, a scrap XJ8 will fetch less than $1,200. As a kid in America, I still saw the allure of an old Jag and had visions of restoring one myself but the old models I’d be looking at today would cost more than a new car. And imagine having a son and bonding over how ridiculously unreliable your project Jag is. Not to mention that you’d be restoring a near classic Jag in the process. Cool factor alone would be worth the investment.

Last, let’s take a look at the 5th generation Chevrolet Camaro V6: Don’t hate on me yet until you finish this section! But I still expect some. I personally would not aim for a V8 5th gen Camaro. Everyone still wants them and that makes them more valuable. As soon as you tick the V8 option in the classifieds, prices go from $8-9,000 to $18,000. And I don’t expect that to change much on the V8 end. There may not be as much character in the V6 as in the V8, but with over 300 HP, it’s still no slouch. I run a 2.8L V6 in my A4 with 193 HP and I would have to disagree with Jeremy Clarkson from a recent Grand Tour episode and say that my V6 has a character. It’s like a giant trying to move, it’s slow to rev but you’ll end up going faster than you think. Along with most people still wanting the V8, V6 prices will only fall from the current $8,000 range in the next 5 years and ones who are just begging to be rebuilt from the ground up could be fetching around $1,500. Look into it. If you really want, LS swap it anyways!

I know many are horrified looking ahead to the used car market with cars that are over-complicated and basically computers and I do not disagree. What makes me overall excited is that some of these fantastic cars of only several years ago will be priced to fall into the hands of many car enthusiasts looking for a project. And I will say that having witnessed when a car was released and hearing all the hype and buzz around a new model will hold more sentimental value for me than anything built prior to 1995 (the year I was born). With some of the cars listed above, I can tell my kids that I remembered when this car was new. How I used drool over some of them as they sat in the new car lot and how I looked up to the people who owned them. And now I own it, and am working on it with my kid. Sorry for dreaming a little but what could be better than that?