history and reference 2002 Values Down?

[Simeon]

Looks like a typo by autoweakly, they put the 2002 in the minus column instead of the plus. According to Hagerty the value has risen about 33% since 2014

Well they need to apologise to the families of all those who threw themselves out of the window at the news that their investments had fallen! How irresponsible!

[danco_]

Any decent roundie (non-tii) still commands $10k+ and the tii's are already over $20k for a comparable car. I don't see this changing anytime soon. 

 

 

It's a basic supply and demand curve applied to the nice driver cars and higher quality. The beat project cars that you often see on craigslist for under $5k are exactly that: cars that will need another $5-10k just to make decent again. 

 

 

I wouldn't worry about what you read on "Autoweek Daily Drive".

[gdub]

Wait., what.....as a newbie please explaine to me why 1976 is more desirable?

[jmr_1602]

Wait., what.....as a newbie please explaine to me why 1976 is more desirable?

It was the BMW's US Bicentennial model. [emoji6]

Sent from my iPhone using Tapatalk

Edited December 23, 2015 by jmr_1602

[conkitchen]

It was the BMW's US Bicentennial model. [emoji6]

Sent from my iPhone using Tapatalk

Outside of having to pass emissions testing, the 76 model year was the most refined from a general utility driving standpoint. US DOT federal emissions standards did away with the tii and any improvement of future 2002 M10 performance. If you live in a US state which does not care about the standard set for a 76 model year, then it's a great buy and should be enhanced with as many performance upgrades as you can afford.

 

So go out and get yerself a 76 cause that's the spirit!

Edited December 23, 2015 by conkitchen

[KFunk]

Who cares about values? They are mechanical things to be used up and enjoyed.

Folks who care about values are not car people, they are investors. To which autos are just commodities.

In my case, it really helped with the insurance payout to be hassle free to getting it back on the road. A couple years ago, they might've said it was totaled and refused to give me much for it.

I plan to drive mine as long as I'm still able to drive, but should something happen to me, well my wife might like some decent cash from selling it. She's not much into cars. If I get a shiny paint job with the help of the insurance money, then the resale value will be way higher if she had to sell it. At least that's how I plan to justify the added costs of a full repaint. . It's weird thinking this car has some value now, after beating on it relentlessly for 10 years, which I will still continue doing. I'm hoping I can pass my wife's Subaru in value soon, hah.

[KFunk]

double post 

 

Edited December 23, 2015 by KFunk

[Slavs]

I never thought much about the values since my 02s have been my daily drivers.

For the longest time they were really cheap since they made so many of them.

And, for this reason they were always subject to mods by "street tuners" not unlike the really cheap Japanese stuff on the road today.

 

Porsche values have skyrocketed through the roof with a clean 60s era 912 commanding between $30K-$50K and a similar 60s era 911 between $100-$200K.

15 years ago the same 912 traded between $6k-10K while the 911 traded for 10K-$15K. The new generation professionals and enthusiast have rediscovered these cars and drove the prices through the roof in a speculative manner.

 

1600s and 2002s along with some NK cars littered the Pick A Part style junk yards for a period of about 20 years. Many clean and rust free cars were crushed. I've seen them there, and I've seen them being taken to the crusher. The 02 was a "People's Car" initially intended to compete with the VW Beetle. It was never built with the "Collector Car" image in mind.

 

The recent hike in prices is more speculative than anything. It is further pricing out many potential owners and do-it yourself mechanics. If this continues, it will be only the snobs and well to do who will be able to afford an 02. That is what happened to the Alfa crowd. But, then gain the Alfa was never really your "Salt of the Earth" car.

[Beemeup]

Wait., what.....as a newbie please explaine to me why 1976 is more desirable?

 

Wishful thinking.......

['76mintgrün'02]

Where is c.d. when we need him?

He praised the mighty '76.

 

I assume Blunt will be having a 33% off sale any time now....?

[Beemeup]

Who cares about values? They are mechanical things to be used up and enjoyed.

Folks who care about values are not car people, they are investors. To which autos are just commodities.

 

The two do not have to be mutually exclusive. I'm a "car person", but I also care about my investment. 

Edited December 23, 2015 by Beemeup

[tomphot]

Who cares about values? They are mechanical things to be used up and enjoyed.

Folks who care about values are not car people, they are investors. To which autos are just commodities.

 

I'm a car guy who loves to work on them myself and cares about how much they are worth - My cars have all gone up in value - I've bought them all well and drive them all every month.  I NEED to care about values because I like them.  If one were to be stolen or wrecked and it would cost me $40K to replace it in the condition it's in and I have it insured for $20K I would be a complete idiot.

[hynrgee]

Without values going up, my wife will stop allowing me to play with my toys.

[Mike Self]

When I bought my '69--back in 1969--I did so not as an investment but as something fun to drive that was also practical, reliable and because I liked the car and thought it would be perfect for me. Forty six years later I still think the same thing, and my cars still aren't investments. They're put-a-grin-on-your-face every time you drive it fun.  Only drawback to their increasing value:  we get more reluctant to drive 'em for fear of some numskull hitting/wrecking our beloved--and now valuable--cars.

 

I see this starting to happen with my E30 318is.  Really nice ones are entering the "collectible" category, and original, unmolested and (relatively) low mileage examples are starting to bring nice $$.  But they, like 2002s are way to much fun to become garage queens.

 

Sigh--I liked it better when a nice '02 could be bought for $800-1000, and driven without fear or trepidation.

 

mike

[KFunk]

If you're afraid of driving it because of the higher value, then perhaps we can compare the value to new cars.

 

A new 2016 Kia Optima starts at $21K, and people buy lots of those.  

If you were driving a Kia Optima, would you give a damn about hurting it?  Nah, beat the hell out of it and run it into the ground, it's a Kia

Well, most of our 02s are worth far less than that Kia Optima.  Even if you had a nice tii, it's still going to be worth a lot less than most new luxury cars on the market. 

 

Thankfully now though, insurance will probably cover an 02 similarly as well as the Kia.  So, drive harder without worry!