(Not) Buying a Modern Classic on a Budget

First of all, a little disclaimer. The opinion in this column is my own. You might, and most likely will, differ from me on some of the points I am going to mention here. These are however my thoughts and experiences that I have gone through thus far in my search for a modern classic sports car.

For the last five years or more I have been driving a very grey, very practical yet boring SUV/Crossover. It’s a convenient tool that I will keep on daily driving. I have however promised myself that if I am ever in a position, I will acquire a “fun” car alongside it. A vehicle that I can take out to the various car shows that I regularly attend or to just go out driving with for no particular reason.

At the start of this year I made a very public announcement on our Carbs and Coffee WhatsApp group that 2023 is the year for me to acquire such a “fun” car. Problem is, as like many Petrolheads, I have a very wide taste in cars. I had to set some basic criteria of what I am looking for. So, rear wheel drive, front engined, manual, 2+2 Coupe was my initial criteria. I say initially as the instant I started looking at cars, I ignored those criteria.

The Brits

The first cars that popped into my head that fit the criteria was the Jaguar XK8 (X100 series) and the later XK (X150 series) as well as the iconic MGB GT. The first car I did end up looking at thou was none of those. It was a British modern classic, but not a 2+2 Coupe. A very rare TVR Chimaera attracted my attention. Sleek, in British Racing Green, this raw V8 Roadster was definitely a proper modern classic sports car. The price was right at the top of my rather optimistic budget however which left no room for anything to go wrong, which let’s be honest, it likely will. I was ruminating over the idea of owning this TVR for a couple of weeks, but came to the realisation that it might just be a step too far.

Back to my search for a Jaagggg. I was offered a test drive in a very neat 4.2 litre V8 XK convertible, which I must admit, I thoroughly enjoyed. The car is an extremely comfortable cruiser with enough performance and growl to keep you entertained. I truly think they are underrated modern classics which deserves more attention.It was however above my budget… again.

At this point, I realised my criteria needs a little bit more refinement and my budget needs to be way lower to leave some wiggle room (and to account for the current economic climate). So a 1990’s to early 2000’s rear wheel drive, manual sports car, coupe or convertible, 2+2 or two seater  became my new criteria… at half my original budget.

The Germans

My “refined” criteria raised the question… what about the Germans? Cars like the BMW Z3 and some earlier Z4’s, the Mercedes SLK and Audi TT all started ticking the boxes. Even the Porsche 986 Boxster at a stretch can be had for reasonable money.

There are however two problems with German sports cars. One, I find them to be a bit… boring, too obvious of a choice. Secondly, the reliability and the ability to run them cost effectively is a big question mark for me. Because I was never really interested in them, my knowledge and experience is limited. I decided to park the German sports car idea for now and move onto something more familiar… something more reliable. Something from Japan.

The Japanese

Other than my already confessed obsession with Ford and Mustangs (which sadly I can’t afford), I have a life long appreciation for the Japanese sports car. Growing up in the Playstation era playing games like Gran Turismo my interest in Japanese cars grew over the years, especially for the 90’s and early 2000’s cars. The fact that a lot of them had pop-up headlights makes it even better. 

The growing popularity and interest in JDM cars over the last couple of years have however affected pricing. Upper tear JDM legends like the Nissan 300ZX, Toyota Supra and Mazda RX7 FD has become unobtainable. There are however a few that are still reasonably priced and good value. Honda CRX and Prelude, Nissan 350Z and the Toyota MR2 are just some examples. Finding a neat, unmodified one however, is the challenge. There are even rare and unusual ones like the Subaru SVX. I almost bought a very famous one, but missed out by a couple of hours. Top tip, when you find a good one you like, act fast.

Then there is the very definition of a fun, cheap, reliable Japanese sports car… the Mazda MX5. At this point, the Mazda makes the most sense for me and ticks all the boxes. The NC models seem to be plentiful, but what I really want is an original NA model, because… pop-up headlights. Yes, I know they are not fast or powerful, but they are still fun, and that is my main criteria.

I have not committed

So far, I have not committed to making a purchase. The next couple of months are also busy ones, so my focus will be elsewhere. Life is what happens when you are making other plans. I will however keep a lookout for that perfect modern classic that will suit my needs.

Please let me know in the comments what you think the perfect affordable modern classic sports car is.