Four Great Collector Cars Under $25k

1966 Alfa Duetto

Multi-million dollar “Pebble Beach” restorations, race cars with Mille Miglia provenance, ex-Reggie Jackson muscle cars—there are plenty of ways to blow your wad if you’re a super-rich collector. But what about the regular guy? Yes, you too can find something to put in your garage other than a lawn mower and all those cases of California Cabernet on which you got a great deal at Costco.

There are terrific cars in every price bracket, including many under $25,000. Some have a reasonable chance of appreciating, a few are even rare, and plenty can be more fun to own and drive than cars that cost ten times as much.

One of the most important things to consider when buying a collector car, regardless of price, is how it will be used. There’s no point in “saving money” by purchasing a car that doesn’t meet your needs or will present such a burden of ownership that the experience turns sour. If you stretch your budget to buy a car that has high maintenance costs, you may not be able to afford to own it. Keep in mind too, that someone is going to need to service the vehicle; get acquainted with a local mechanic before you buy a car that no one in your area can or will work on.

What follows is a list of five popular cars that are all fun to drive, offer few challenges in acquiring parts or service, and are relatively easy to sell when you want to “move up” in the collector car chain.

1966–69 Alfa Duetto, $15,000–$20,000

The Duetto debuted in the U.S. in 1967, with a radical “round tail” rear end that not everyone appreciated at first. Alfa heard the criticism and in 1970 the Spider (as it had since been rechristened) got a more conventional squared-off “Kamm tail.” This change of heart means that 1966–1969 models were forever set apart from the many Spiders that followed through the end of production in 1993.

Immortalized in “The Graduate,” the Duetto is what many people imagine when you say “Italian sports car,” and the reality lives up to the hype. It is great fun to drive, with a free-revving 1,600-cc DOHC four and a slick five-speed transmission. The 1969 model (there was no 1968 U.S. model) received a bigger, 1,779-cc engine with a troublesome fuel injection system, making the 1967 model year the more desirable.

The biggest challenge to buying an old Alfa is a period of deferred maintenance that many went through when they were just cheap used cars. A weak second-gear synchro and head gasket are the chief areas of concern. Any sort of service history is a great bonus, although mechanicals in these cars tend to be robust and the cost of rebuilding an engine, which maxes out at around $4,000, is comparatively low compared to other Italian exotics.

The body, however, needs to be carefully maintained, as old Alfas rust with a vengeance. In addition, the pointed ends that make the car look so great tend to lose out in encounters with the “park by touch” crowd, and inevitably many hoods and trunk lids will have been repaired. Look carefully for a little raised ridge above the center of the grill; if it’s not there, the car has been hit and ineptly repaired.

Alfa Spiders are as common as roaches, but the round-tail Duetto is a true classic, one of Alfa Romeo and Pininfarina’s greatest accomplishments.

• Pros: Sharp-edged, dramatic design; the top goes down; responsive, free-revving engine; slick transmission; great club support; easy parts availability.
• Cons: Very vulnerable to parking dings and dents; deferred-maintenance issues; rust problems everywhere.
• Bottom line: A famous open Italian sports car, a true classic for a very low price.

1965–67 MGB-GT, $7,500–$11,000

Following the successful introduction of the MGB roadster in 1962, a coupe version was planned. The Pininfarina design would share the roadster’s front fenders and hood, but have a slightly taller windshield to allow more room inside. Thus, the well-proportioned MGB-GT was born in 1965, with a folding rear seat and a practical hatchback rear door.

The added weight of the roof somewhat compromised acceleration, but this was mitigated by enhanced aerodynamics and improved handling thanks to shifting more of the weight over the rear wheels. With genuine leather seats, wire wheels, and good build quality, the MGB-GT was sort of a poor man’s Aston Martin.

Not surprisingly, when looking for a GT, rust is an important consideration. Due to the high quality of the original paint, MGBs usually rust from the inside out, caused by leaks and corrosion on the floors. Check to see that the seam between the front fenders and the footwells is solid, that the doors don’t sag when opened, and check the condition of the rear spring hangers. A rust hole in the rocker panels is generally a terminal sign. Dented fenders, doors, and hatches, however, can be replaced with new items quite easily.

The optional overdrive is a real plus. Avoid cars from 1968 on, as the interior suffered from DOT “safety-itis,” and the engine began to be smog strangled.

The engine, like that of most English cars, will likely show some signs of oil leakage—but not in the Exxon Valdez range. The B’s 1,789-cc inline four is inexpensive to rebuild, less than $3,000 generally, and parts support for these cars is amazing.

For a true British grand touring experience at a fraction of the cost of a Jaguar, the MGB-GT is a great choice.

• Pros: Fun to drive with an elegant style; practical coupe body; great parts availability and club support.
• Cons: The top doesn’t go down; more expensive to restore than a roadster, but worth less.
• Bottom line: A real GT car with a pedigree, wire wheels, leather, and protection from the weather.

1965–66 Ford Mustang Coupe, $15,500–$22,000

The first-generation Mustang was enormously successful, with over 400,000 sold in its first year. Not only did the ’Stang go on to become one of the most beloved nameplates, but it spawned an entire segment, the “pony car.”

In today’s terms, Mustangs look sportier than they feel, but in period, the Ford Falcon-based sports car was certainly among the most fun-to-drive American cars on the road. Mustangs had vast options lists, allowing for everything from a quasi-economy car with a 120-hp six-cylinder, to a high-performance muscle car with a 271-hp, 289-ci V8, a four-speed manual transmission, and front disc brakes.

The most valuable Mustangs are original factory-built GT models, but as most of the package was available as dealer-installed pieces, it takes original build records to confirm a “real” GT. Cars that have such documentation, as well as convertible V8s, sell for well over $30,000, but the prices of coupes (and some fastbacks) are still hovering below the $25k mark, even with V8s.

If you just want to cruise down to the local ice cream parlor on a Sunday afternoon, a six-cylinder Mustang may suffice, but the V8 is far more desirable, even with the three-speed automatic transmission. Early Mustangs have great style, can be serviced at practically any gas station, and are supported by the hands-down largest network of parts suppliers in the country. These cars are easy to find, inexpensive to own and restore, and are not likely to depreciate.

There is no more iconic American car than the first-generation Mustang, a perfect first-time collector car.

• Pros: Classic design; superb parts availability and ease of service; great club support; tremendous following.
• Cons: Fairly common; coupes worth considerably less than convertibles; “fake” GT models abound; varying quality of many amateur restorations.
• Bottom Line: A legend, practically as easy to own and drive as a new car.

1972–74 BMW 2002 tii, $10,500–$16,500

Although it was the homely Isetta bubblecar that saved BMW from almost certain extinction in the 1950s, it was the 2002 that put the automaker back on the map. Fitted with a 100-hp, 2-liter engine (from the 2000 sedan) and independent rear suspension, the two-door 2002 was the antithesis of the American idiom of big, brute power.

It was an instant hit in the U.S. market, causing David E. Davis to write in Car and Driver, “To my way of thinking, the 2002 is one of modern civilization’s all-time best ways to get somewhere sitting down.”

The ultimate 2002 variant was the Turbo of 1974, which was never officially imported to the U.S. But second in the pecking order is the tii (standing for Touring International Injection), introduced in 1972. The tii boasted higher compression, larger intake valves and brakes, wider wheels, and of course, a Kugelfischer mechanical fuel injection system. It had 25 more horsepower than the standard model, along with a much wider power band.

Mechanically, 2002s are very sturdy, but like most cars of the era the real concern is in the body, which can, and does, rust. The key spots to check are the rear shock towers in the trunk, the spare tire well, the frame supporting the fuel tank, and the rocker panels (which are structural). Parts are readily available through an active network of suppliers and a large club.

A properly set-up 2002 tii provides a very modern driving experience with just enough vintage spirit.

• Pros: Great to drive; outstanding original build quality; good parts availability.
• Cons: Watch out for rust; needs high-octane fuel; ’74 and later cars carry big federalized bumpers.
• Bottom Line: The BMW reputation for performance, without the yuppie image.