Are Restomods Ruining Old Cars For All Of Us?

Issue #182

​Today, we’re discussing how old cars are becoming too expensive.

We’re not only talking about classic cars. Every car produced in the 90s and back is coveted. Here’s why.

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In The Know

Are restomods ruining the classic car market?

We’re willing to bet that 99% of our readers would love to have a classic car and slowly restore it. It becomes a passion project of blood, sweat, and, yes, sometimes tears.

In the end, driving your project car out of the garage is satisfying beyond description. Unfortunately, it’s something that could become unattainable in the near future.

Not only are cars generally becoming more expensive, but classic cars (and old cars, as well, which are not the same) are skyrocketing in value. The culprit is a wave of restomods, in which shops take older cars, restore and modify them.

The most common modification you might think of would be disc brakes and then an engine swap, but some of these go much further than that. In fact, they modify them so much that the end cars look exactly the same, such as this one. (Yes, it’s an 80s car for $400,000)

As ironic as it sounds, the idea behind many recent restomods is to bring an old car up to modern standards. Most often than not, it’s not about messing with the aesthetic or even the interior, which was extremely common in the 2000s, with designers such as Chip Foose and Boyd Coddington.

While restomods are not new, the striving for originality and practicality has consolidated into an upscale proposition with brands such as Singer.

At the same time, interest in restomods increased because, at first, they weren’t as expensive as having a supercar, but were just as exciting and different. However, this trend soon caught on, and the past years have seen a spike in their prices, as this article explains.

The restomod proposal quickly became the new standard for (rich) people who wanted something different. Also, it was to differentiate themselves from supercars and hypercars, which were quickly a symbol for the new (and tacky) rich.

What’s the consequence of this changing trend? Now, classic and old cars are more expensive than ever. They might not be popular now, but the potential for a price spike in the future has led many to buy them like crazy, as this article explains.

This audio explores how the industry is feeling the consequences of restomods, and one of the most surprising aspects that was previously ignored. The classic car and restomod segment is growing so fast that it has sparked an aftermarket industry specialized in modern improvements. Not only that, it’s extremely expensive. 

 Ten years ago, it was nearly impossible to find an improved suspension for a 1974 Chevrolet Nova. Now, it’s readily available, at a hefty price, of course.

Does this mean that any old car is too expensive to buy? Not necessarily. The automotive market has “seasons,” as this YouTuber explains. While we don’t agree with the entire video, it does acknowledge that pre-80s have seen a price correction of around 15%.

Replacing them are cars from the 80s and 90s, which are, so far, cheap. Does that mean we should rush?