The second-generation Corvair was one of the cleanest designs of its day. Although many predicted classic status because of its unusual rear-engine, six-cylinder boxer powerplants, 30 years later there is no shortage of decent cars around $5,000, with $9,000 buying a sharp turbocharged Corsa convertible.
Corvairs are delightful to drive, with a light touch to the controls, decent power and the sportscar-like road handing that only a 911-style double-jointed rear axle can deliver. The steering was unassisted, light and direct, a revelation for those accustomed to any other American car of the era. The brakes, drums all around, were typical Detroit fare but worked well on a car that weighed at least a few hundred pounds less than its competitors. The seats were large soft buckets, and the interior felt huge because it lacked a transmission hump.
The base Monza engine made 110hp, while the Corsa engine bumped that to 140hp. The optional turbo was rated at 180hp but felt slower off-boost below 3,500rpm. Cranks were supported by just 4 main bearings, but everything was heavy enough and slow-revving enough for that to be sufficient. There were no messy overhead cams to got in the way.
Corvairs were everyday cars, so watch for rust in the floors, doors, lower fenders and quarters. Convertibles are worth whatever extra you need to pay. The four-door pillarless sedans, even in immaculate condition, have little following.
The engine is cooled with an innovative horizontal turbine-type fan, which requires the fan belt to make two right-angle turns. Keep the fan belt in place by making sure all the pulleys are in good shape, use a fresh belt, carefully adjusted, and carry a spare belt. The biggest serious problem is dropped valve seats, so they need to be pinned into place. Upper head studs can pull out of the blocks, but the heads and cranks are very reliable. Transmissions were greatly improved in 1966.
The Corvair club has a good monthly publication, and you'll find a handful of vendors providing replacement parts at reasonable prices. Corvairs always had the dynamics of a good sports coupe, and today those qualities are available at very friendly prices.