1935Packard

"Millennials Invade Classic Car Market"

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I was 14 when I bought my 1941 Cadillac 60 Special Fleetwood in July 1979.  My dad was 16 when he bought his 1941 Cadillac 62 Series Convertible in 1955.

 

Take a look at the 1950's and 1960's videos on the AACA YouTube page - most of the car owners are in their 20's to 60's driving brass and nickle cars.

 

And, what a lot of people do not realize that today if you are in Los Angeles (or Europe) it is not uncommon to see younger people out touring in brass cars.

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19 hours ago, canadiandeluxe said:

I am 18 and just bought a 1950 Plymouth. Don't get me wrong I would love a muscle car or even a 71 c10 but right now those cars are worth a lot even if they are in bad shape, so for me a 1950 was actually a more accessible way of getting a cool old car I can actually take to shows, yes its a lot or work but people want double what I paid for rusted out muscle cars, thats my reason, just thought i would share.

Great choice! This car isn't flashy BUT it is a fine driver and easy to get mechanical parts for . You'll have years of affordable fun in a car your friends will be happy to ride in - and few worries about "collector" value. And it WILL get lots of looks and questions. Congratulations and best of luck:)

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A 1950 Plymouth is an exceptionally comfortable and reliable car. Plus they are "cool" in their own way.

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Born in 91, so *shudders and suppresses the urge to vomit* I guess I’m a millenial..but I’ve always liked old cars, classical music, antique firearms (pre WW1) and hated modern music, think new cars are lacking a lot of style/too chunky/trying to tick too many lawyer boxes.

 

One of those “born in the wrong century” people.

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2 hours ago, jrbartlett said:

A 1950 Plymouth is an exceptionally comfortable and reliable car. Plus they are "cool" in their own way.

NOS parts are pretty cheap on ebay as well or atleast nice replacements from out west if it needs any.   Makes fixing them up fun and affordable.

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Interesting that Hagerty doesn't disclose what years "millenials" are getting quotes on.  Are they getting quotes on "classics" from the 60's and 70's?  Also, quotes don't mean they are buying or HAVE cars, many of them could be just window shopping.  A more interesting metric would be how many policies were issues to millenials, and for what year ranges.  That is FAR more telling than this fluff piece.  If anyone thinks millenials are going to carry the torch of collecting pre-50's cars, they're delusional.  This article is pretty eye opening:  https://www.usatoday.com/story/money/cars/2016/01/19/drivers-licenses-uber-lyft/78994526/

 

" Only 24.5% of 16-year-olds had a driver's license in 2014, down from 27.5% in 2011, 31.1% in 2008 and 46.2% in 1983, according to the University of Michigan report." 

 

Let that sink in.  Millenials simply don't have that same emotional attachment to cars, let alone DRIVING them.  Of course there are many younger folks on this site that love old iron, but they are simply the exception rather than the rule.  Growing up, I used to attend swap meets with my purist father, and he used to complain about "big tires and Chevy 350 intake manifolds" all over, as if they had no business being there.  In my opinion, THAT is what is going to kill the pre-50's car collector market more than anything.  Guys who see the newer stuff as a waste of time and deride the younger generation for wanting to collect 80's and 90's vehicles instead of the 1935 Ford that the boomer thinks is best.  What a shame. 

Edited by cgaller (see edit history)
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On 12/23/2018 at 1:30 PM, John_S_in_Penna said:

 

Mike, collector-car insurance is a good value!

For exactly the reason you mention:  owners drive

their cars infrequently, and take good care of them.

You may pay $75 or $100 per year for the typical antique.

 

Regular insurance companies don't really know how to

deal with antique cars.  If the owner has an accident,

such companies, I've read, don't understand the 

care and expense of doing work properly.  Further, they

might see your beloved classic as just an old car which

they will depreciate, and they may give you far, far less

money than is actually needed to do proper repairs.

 

When you "declare" the value, Hagerty has to agree with

your value.  I don't think your proposed valuation could

be away off and still be agreed upon!  

 

Absolutely! I just had a horror story with AAA classic car to the point I had to threaten them. I cancelled my policy after it was settled

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On 1/31/2019 at 9:57 AM, cgaller said:

Interesting that Hagerty doesn't disclose what years "millenials" are getting quotes on.  Are they getting quotes on "classics" from the 60's and 70's?  Also, quotes don't mean they are buying or HAVE cars, many of them could be just window shopping.  A more interesting metric would be how many policies were issues to millenials, and for what year ranges.  That is FAR more telling than this fluff piece.  If anyone thinks millenials are going to carry the torch of collecting pre-50's cars, they're delusional.  This article is pretty eye opening:  https://www.usatoday.com/story/money/cars/2016/01/19/drivers-licenses-uber-lyft/78994526/

 

" Only 24.5% of 16-year-olds had a driver's license in 2014, down from 27.5% in 2011, 31.1% in 2008 and 46.2% in 1983, according to the University of Michigan report." 

 

Let that sink in.  Millenials simply don't have that same emotional attachment to cars, let alone DRIVING them.  Of course there are many younger folks on this site that love old iron, but they are simply the exception rather than the rule.  Growing up, I used to attend swap meets with my purist father, and he used to complain about "big tires and Chevy 350 intake manifolds" all over, as if they had no business being there.  In my opinion, THAT is what is going to kill the pre-50's car collector market more than anything.  Guys who see the newer stuff as a waste of time and deride the younger generation for wanting to collect 80's and 90's vehicles instead of the 1935 Ford that the boomer thinks is best.  What a shame. 

Hagerty only covers a younger person if they have been driving for at least 10 years so these numbers are inaccurate.

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On 1/31/2019 at 12:57 PM, cgaller said:

Guys who see the newer stuff as a waste of time and deride the younger generation for wanting to collect 80's and 90's vehicles instead of the 1935 Ford that the boomer thinks is best.  What a shame. 

 

I have been around for a long time and heard a lot of the purist rhetoric. But let one of those old purists get there hands on a clean 1980's or 1990's car and the whole story changes. In general they are a pretty double standard group.

 

I am from the first of those baby boomers, 1948. And I am finding my taste in cars moving away from those old dogmatic icons. Nice to look at, but I really don't want one. I realized that when I stood in my garage with my hand in my pocket and fingers wrapped around the cash to buy a pretty good Model 90 Buick. I have been enjoying cars in the 15 to 20 year range because I like the prices, styles, and engineering. Maybe they are more pragmatic to drive as well. But, then, I am not trying to capture some memory I imagined I had, either. Kind of like the young 'uns not searching to relive a few hours of Tetris or Super Metroid. Maybe they are living in the moment.

Bernie

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I dunno about you guys, but the above post mentioned collecting 80’s cars. Over here the 70’s have risen in price, and now the early 80’s are starting to climb. Eventually it’ll reach the 90’s, 2000’s etc.

 

Speaking of 80’s, I do enjoy a good Notchback. https://www.hemmings.com/classifieds/dealer/oldsmobile/442/2207073.html

 

 

Interestingly we never had that trend in body style over here in Australia, despite several GM owned companies.

Edited by Licespray (see edit history)

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On 1/29/2019 at 2:33 PM, jrbartlett said:

A 1950 Plymouth is an exceptionally comfortable and reliable car. Plus they are "cool" in their own way.

ive never seen one around before so

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On 2/2/2019 at 9:10 AM, Licespray said:

I dunno about you guys, but the above post mentioned collecting 80’s cars. Over here the 70’s have risen in price, and now the early 80’s are starting to climb. Eventually it’ll reach the 90’s, 2000’s etc.

 

If one is to believe one well known USA Antique Auto Insurance company's  "Valuation Tool",   it appears that the value of some 1980s cars are rising at a rate that would SHOCK some here who think of them as just "used cars". Me, I am not surprised since I own a few vehicles from this era and I have seen their values increasing every year like clockwork for the last 10-15 years (either by the valuation tool I mentioned or my insurance company's yearly increase in the value of vehicles on my policy). As time goes on and these vehicles get older their value increases may slow down but both now and in the end they will be fairly valuable "used cars".

 

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