Vintage cars are always in demand, the fellow that wants a 67 Mustang, a 57 Chevy or a 69 Camaro will pursue his dream until he gets it but the market is in a state of flux. The less expensive cars below $30,000 and the high end machines above $100,000 are in demand as always but the middle market, the nice cars between those figures are in greater supply right now and the buyer can bid a little less and still get a great car.
Many owners in those categories have taken out equity loans to cover their purchase and the subprime mortgage mess is creating issues, forcing some to put their classic up for sale, at the same time, fewer buyers are able to finance their dream car and sellers can't locate the ones who are able to come up with the cash. Some sellers are heartbroken when they find they have to sell their car and the buyers aren't there to pay what it was worth a year ago.
A buyer's market is actually a great opportunity to pick up some real gems at a nice price but, as always, if you're buying a vintage car as an investment and nothing more, you should put your money in the bank. Cars are to be enjoyed, if you don't love them, why buy them in the first place?
Link: Detroit News