If you’re a member of the baby boomer population (like me) you might already know this: boomers love American classic cars. Maybe you have wanted that flashy Camaro, or your memory of seeing the classic 1965 Mustang shines bright in your mind, but you just never got around to owning one.
There were probably solid reasons why you didn’t buy that classic car in the past, but now is your opportunity to live this wide-spread dream. After all, if the baby boomer years don’t allow us to indulge our passions, what good are they?
It’s not too late! Now that the kids are grown and out on their own, many seniors have some extra money to play with and they are filling their garages with beautiful vehicles. Baby boomers have quickly become the demographic most interested in buying up old muscle cars, much to the delight of muscle car dealers.
The Muscle Cars of the 1960s and 1970s
Emission standards came into being in the 1980s which tamed the speed and power of the muscle cars of the 1960s and 1970s. Some classics like the 1970 Dodge Challenger R/T Hemi Convertible cost approximately a million dollars. But not all are so pricey. Looking at the current Auto Trader we can find a 1971 Chevrolet Camaro for $36,999, a 1971 Pontiac GTO for $32,999 , a 1969 Chevrolet Chevelle for $52,000 or a 1969 Chevrolet Camaro for $79,000.
Are These Cars A Wise Purchase?
Safety and comfort: while there is plenty of proof that most classic cars are not as safe as more modern vehicles, chances are it will not be the main family vehicle. Most likely it will be driven only on rare occasions, so worrying about the lack of air conditioning or poor gas mileage is not warranted if you are not going to put many miles on it.
Insurance coverage: many insurance companies have special policies for older cars. Generally, these are definitions of classic and antique vehicles:
- Classic automobile: A motor vehicle ten or more years old, which is of special historical interest.
Antique automobile: A motor vehicle 25 years old or older.
There are some important conditions for classic car insurance eligibility:
- Your antique or classic car must be used on a very limited basis, such as exhibitions, club activities, and parades or similar events.
- You need to have restored, maintained, or preserved your antique or classic car or it must be actively undergoing restoration.
Since your lower rates are based on restricted usage, making the decision to drive your classic car on a limited basis is an easy one.
If you are a baby boomer who craves classic cars, you have the chance to be part of a unique culture and take part in the camaraderie and friendships of other car lovers. And it’s fun to watch people’s expressions as they behold a beautifully restored classic car.
And don’t forget – you will have lots of opportunities to argue about the “best muscle car”. :-)