As the global financial crisis continues to unfold, some astounding opportunities are on offer to car enthusiasts. You only have to scan listings at the Carsales Network to see sellers mentioning the economy as the reason for settling for what would only a few months ago have been unrealistically low prices.
Usually the first items people sell when they feel the personal effect of a troubled economy are luxury goods such as boats or sports cars. It is no wonder, then, that the days of the $1 million Ford Falcon GTHO Phase III, which looked imminent in mid-2008, now look to be years into the future.
Virtually all used cars have come back in price but some speciality types have dropped further than the rest. One category where fantastic bargains abound is luxury sports coupes.
With a budget as small as $10K, you can now shop for a pre-loved Italian, German or Japanese thoroughbred of great shape and in great shape, and even with history packed into the glovebox. Spend $30K or even $20K and you could be behind the wheel of a beauty that might have been out of your reach a year ago.
Would you prefer a five year-old Japanese model jam-packed with features and able to dispatch the standing 400m in 14sec, or a classic upscale Mercedes-Benz or BMW from the 1980s? Of course, you have to be especially careful with the latter category but as a general rule these kinds of cars are well looked after, not only by the first and second owner but even by those who secure custody subsequently.
The kind of person who chooses to buy, say, a Mercedes-Benz SLC or a BMW 635 CSi is mostly going to be an enthusiast. Furthermore, few of these ageing machines are pressed into heavy duty as daily drivers. To see an example of either negotiating with the peak-hour grind is a rare thing.
Nevertheless, if you have your heart set on buying a gracious but now elderly European classic, it pays to take extra care. The main problem is to verify the history of any car you are considering.
Cars that were delivered new in Australia carry a premium, so the first thing to check for is an Australian compliance plate that is the same age as the car. Many privately imported vehicles have come in from the UK where rust is a far greater problem than in most parts of Australia. I experienced the consequences of this back in 1993 after successfully completing the Targa Tasmania. Amid the anti-climax of the morning after the gala dinner, I jacked up -- or went to jack up -- one side of my black 1981 BMW 635 CSi. The jack went straight into the sill, which was riddled with rust. This was a car without a compliance plate and had probably been delivered new in South Africa, which was why I had been able to secure it at what looked like a bargain price.
As you read through all the advertisements, you will note the extremely wide price range occupied by such cars as the 635 CSi. The premium on Australian delivery is a major differentiator. This same principle also applies to many upmarket Japanese models.
Obviously, then, there are more risks associated with buying an older vehicle but this does not mean that you cannot do outstandingly well. It is always worth paying more for a car that comes with thorough documentation and one which provides proof of previous tender loving care. If the stamp of an authorised specialist is on most of the bills, so much the better.
If you prefer the idea of a late model coupe of arguably lower status (always in the eye of the beholder), the road to purchase is more straightforward. Few this-century cars will have been privately imported. Few, too, will have enjoyed the ministrations of more than, say, two owners. You may even find an example that has only just driven out of its warranty period.
The best news of all is that you can buy a five year-old Nissan 350Z or Mazda RX-8 for considerably less than $30K, which is about half of the new price.
We can thank the current economic woes for the fact that such highly desirable specialist machines are now suffering the type of depreciation that used to be the province of fleet cars such as the old Falcon Forte and the garden variety Commodore Executive. Remember the Magna? On a quiet day, you could hear it depreciating.
$10,000
-- Alfa Romeo GTV6, Toyota Supra, Nissan 300ZX
I must admit to bias in the case of the Alfa GTV6, having owned three examples (one of them twice, this car being the one in which I secured a class place in the inaugural Targa Tasmania).
Even in the late 1980s this looked like being a future classic. It is fair to say that prices have plateaued over the past decade or so but there are fewer tidy examples coming up for sale.
In all probability a truly immaculate GTV6 will command much more than its current $12-14K within half a dozen years. Although rarity of itself does not confer value, where there is genuine demand it becomes a key factor, and the Alfetta-based coupe will always have staunch followers.
Less goes wrong with these cars than you might expect, but an inspection is crucial. This really should be conducted by one of the many Alfa specialists.
>> The GTV6 was current from 1983 to 1988 but was a development of the 1972 Alfetta sedan and the related GT coupe of two years later. It now seems like something of a historical oddity because it lacks power steering. This was a decision taken by the engineers who believed that a real sports car should deliver maximum driver involvement. At parking speeds this is a chore but on the open road the GTV6 steers better than most current models; it is alive in your hands.
>> The driving position is awkward but the seats themselves are comfortable. There is a usable rear compartment backed by a fair size boot. It should have had a hatchback.
>> Performance is of the sound and fury school -- signifying not much. In its time the Alfa was reasonably quick but was soon overshadowed by the new wave of mid-1980s turbocars. The standing 400m took 16.7sec and top speed was not all that much beyond 200km/h -- perhaps 205. Although the gearbox has been much criticised, it actually responds well to a gentle touch.
>> Fuel economy is wonderful considering the fairly low gearing and you can easily get below 9L/100km on open roads. In short, the GTV6 is a quaint antiquity that is a joy to drive, but can no longer be judged a high performance car.
>> For $10K you can buy a really tidy example with plenty of history, while even the very best ones struggle to achieve $14K. Cars in the $5000 range are best avoided because they will soon owe you $10K and still not be immaculate.
The original Supra (MA 61) was essentially a six-cylinder Celica but in 1986 Toyota introduced the real thing (MA 70). This was a very fast, beautifully built and well equipped coupe of Nissan ZX dimensions. Blessedly, it retained rear-wheel drive and in many ways may be thought of as a cut-price 928S. The firm ride was a small compromise to make for excellent, planted handling.
Its performance was vastly superior to that of the GTV6 with the 400m wasting just 15.8sec on the way to a top speed of close to 220km/h somewhere in the Northern Territory.
>> The Supra's five-speed gearbox was a thing of magnificent feel and precision. And where the GTV6 made many demands on its driver, the Supra seemed to bend over backwards to please.
>> The MA 70 was sold locally from 1986 to 1988 and there was also a Cabriolet. A minor facelift occurred for the MA 71 Turbo model, introduced here in October 1988. Excellent examples are comparatively rare but $10K is the right price. Toyota Australia did not sell Supras after April 1993.
In 1989 Nissan introduced its fourth generation Z car, which was essentially a modern interpretation of the original 240Z and was an outstandingly good design. Where its immediate predecessor was extravagantly styled and relied on a turbocharger to give it decent performance, the naturally aspirated 300ZX was faster, immensely more satisfying to look at and drive, and is now regarded as a minor classic.
>> The standing 400 metre time was in the low 15s, while fuel economy was better than such performance might lead you to expect.
>> As with so many Nissans, the interior treatment is perhaps the only real disappointment with its rather garish cloth and too much grey carpet.
>> Tread carefully when choosing one of these cars though because there are numerous grey imports mixing it with the Australian-delivered cars. Just as importantly, many 300 ZXs have led an exhausting life. So while $10K can buy you a beauty, it can also buy you a bundle of trouble if you settle on the wrong car.
The driver's choice: Nissan 300ZX
The romantic's choice: Alfa Romeo GTV6
The sensible choice: Nissan 300ZX
The collector's choice: Alfa Romeo GTV6
Search used Alfa Romeo GTV6 models here or Toyota Supra models here or Nissan 300ZX models here
$20,000
-- Mazda RX-7 Twin Turbo, Alfa Romeo GTV V6
Launched here in March 1992, the Mazda RX-7 Twin Turbo was in perfect time for the James Hardie 12-Hour production car race held that Easter. Its completely dominant performance in that event marked this third generation Mazda RX-7 rotary sports car as a new benchmark. Unsurprisingly, resale values have always been strong and a 16 or 17 year-old example in top condition costs as much as many much younger rivals.
Straight out of the box, an RX-7 Twin Turbo was good for a 14sec standing 400m sprint and some judicious aftermarket work brings significant gains. Fuel economy is better not mentioned.
On the racetrack, the Mazda handles beautifully but on real world roads, it can occasionally prove skittish in the rear. Handle with caution! Ride comfort is about on a par with boot space -- bordering on the non-existent.
Taken as a long-term prospect, the RX-7 looks like a notably collectible car, having no direct rival and boasting the uniqueness of that Wankel engine.
It is hard to imagine a more different sports car than the second generation V6 Alfa GTV, called the GTV V6 to distinguish it from its illustrious GTV6 predecessor. Alfa Romeo turned to Pininfarina to design the bodywork of this surprisingly tiny, birdlike coupe. Beauty is high on its list of merits. Another strength is the evocative 3.0-litre V6 with a kind of top-end urge not found in the earlier 12-valve versions. Driven back to back with the old rear-drive GTV6, this one feels significantly quicker. And it does not use any more fuel.
Then the disappointments start. Torque steer is prodigious in the Alfa. Although the handling is quite good, this blight undermines it mightily. Ride comfort is quite good. For seriously hard drivers, then, the GTV V6 is let down by the change of mechanical configuration. It is thus unlikely ever to achieve the iconic status of its rear-drive GTV6 predecessor.
In terms of style and performance for the money, it has a case to make. Good examples are available for $15K, while you can buy a cracker for $20K. If you are not a hard driver but fancy the perfect café racer in this price range, here it is.
The driver's choice: Mazda RX-7 Twin Turbo
The romantic's choice: Alfa Romeo GTV6
The sensible choice: Mazda RX-7 Twin Turbo
The collector's choice: Mazda RX-7 Twin Turbo
Search used Mazda RX-7 Turbo models here or Alfa Romeo GTV6 models here
$30,000
-- Mercedes-Benz SLC, BMW 635 CSi, Mazda RX-8, Nissan 350Z
The very first thing to say here is that you can find any of these cars for considerably less money, especially in the case of the Mercedes and BMW which frequently limbo under the $10K bar. When I refer to the $30K 635 CSi and SLC, these should be cars in close to concours condition and replete with a stack of documentation. Sadly, there is no surfeit of such machines and you may have to spend weeks or months looking. As for the 21st century coupes, these will be about five years old and with comparatively low kilometres. If you are happy to settle for tidy cars which have done more work, then $25K is your mark.
Mercedes introduced its SLC sports coupe in 1971. It was sold initially as the 350 SLC but was joined by the 450 variant two years later. The 350 was discontinued in 1976 but the 450 SLC soldiered on until 1980, by which time it was rather out of date. So if you want a classic that drives like a modern car, forget this one. But it is a thing of much beauty and embodies Mercedes tradition in a seductive fashion. The interior is charming with real wood trim and a great sense of emphatic German style.
Even the 4.5-litre V8 delivers only modest performance (with the standing 400m taking about 18sec), but again this is not why you would buy one of these. Much the same applies to the handling and steering, neither of which could be described as precise.
If you can find a 450 SLC, which is absolutely free of rust and in superb overall condition, it will reward you in much the way a work of art does.
By contrast, the 635 CSi has a more modern, although certainly not contemporary feel. When you consider that the design dates back to the 633 CSi of 1977, its purposeful and agile dynamics are impressive and it was surely an ultimate driving machine for the 1970s! The CSi is a sharper drive than the SLC, with stronger performance from an engine that really enjoys the tachometer’s higher numerals. This evocative straight six teams well with the five-speed manual gearbox and in this guise you can get down to 15.8sec for the standing 400m. But most cars delivered had the four-speed automatic.
Handling is entertaining. Oversteer is available at higher cornering speeds or at high rpm in the lower gears. It is controllable and well balanced, but is absolutely no dynamic rival for, say, the Mazda RX-8.
The most old-fashioned aspect is the interior, which exudes a measure of austerity, although the Recaro seats are welcome. This is a spacious coupe with a huge boot. It is a far more practical device than either the RX-8 or the 350Z.
This latter pair offer interesting contrasts and I imagine that few new car buyers shopped one against the other because they are so different. The Mazda RX-8, in particular, is an acquired taste. That eerily smooth and rev-happy rotary engine has lots of power with minimal torque, which means much use of the gearlever and no sense that you are driving a fast car when the tachometer needle is anywhere short of about 4000rpm. For many this could spell tedium. It will cover the standing 400m in 14.8sec and is generally much thirstier than we expect these days.
The handling is electric, the ride not too bad, and the overall experience of moving between Point A and Point B can be a thrill. Its visuals, too, are somewhat controversial, and the RX-8 will never be confused with any other vehicle. Mazda, indeed, is doing a fabulous job with its brand identity.
So, too, is Nissan, at least with the Z. With the 370Z now available, the excellence of the 350Z back in 2003 is all the more obvious. The Z is as muscular and rorty as the RX-8 is refined and subtle. It has that wonderful capacity to pull hard from very low rpm, which will endear it to those reared on big-engined sports cars. The standing 400m takes 14.3sec and it uses significantly less fuel than the Mazda.
Arguably, no other car can be confused with a 350Z and there is an athletic stance perfectly in keeping with the driving experience.
The interior is a slight letdown, although it is comfortable and well equipped. But it is a strict two-seater, which gives the Mazda arguably it's greatest single advantage. However, for many buyers in the market, a sports coupe will not be used as their daily driver.
The driver's choice: Nissan 350Z
The sensible choice: Nissan 350Z
The romantic's choice: Mercedes-Benz 450 SLC
The collector's choice: BMW 635 CSi
Search used Mercedes-Benz SLC 450 models here or BMW 635 CSi models here or Mazda RX-8 models here or Nissan 350Z models here
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