Brother I'm trying to do similar, fucking first Obama's "Cash for Clunkers" killed dreams of building shitbox rally cars for fun and now I'm worried I won't be able to build a big block hemi. Life for a gearhead in this age is hell.
Cash for Clunkers pissed me off so bad back in the day. It was one of the first times I realized, that for all their talk, the Democrats actively shit on the working man.
I was 27 years old when Obama got in and knew a lot of folks who didn't have their shit together as well as I did (and I certainly didn't have it all together either). These friends of mine though, they weren't making a lot of money and needed a mode of transportation. What does the government do? They artificially inflate the cost of used cars.
A generation before, people would go out and buy a 20 year old car with a solid engine and limp it through their 20's. My girlfriend at the time and I knew a single mother of two very young children who was working for somewhere around minimum wage and had moved back in with her folks after her divorce. In a sane world, that girl would've been driving a 1987 Buick Regal who's engine was on it's second rebuild or had been plucked out of a junkyard.
However, at that point a lot of those $1500 cars had abrasive substances fed into the engine and been run at redline until they seized. So instead, this girl was driving around in a $18000 car at probably 12% interest when that came out to be somewhere around her annual salary.
About a year or so later, the Great Recession caught up to me and I found myself out of job with no prospects. So I became one of those guys on Craigslist who "Buys Junk Cars". I had played in the car market before this and had gotten to be, what I thought at the time, was a decent mechanic (I'm far better now). There was a world of difference between what cars were available prior to Cash for Clunkers and what was available afterwards. I wasn't trying to do high quality restorations, my goal was to get a junker and get it running well enough to sell it on and try to scrape together enough to make my mortgage. I was successful at it, but it was a lot harder. Those cars that just needed a carb cleaned or some electrical gremlins sorted were gone now. They'd been repaired and then promply driven to the dealership and destroyed (One of the requirements for Cash For Clunkers is that the motor had to run and the car had to drive). Those cars were gone, so I was left picking through stuff with serious issues because the ones that were worth a shit were either gone or way too expensive. Anything 15 years old or newer had engine problems, older was either wrecked or rusty beyond belief.
There weren't any 1986 Caprices that needed a new distributor left. You see that in the classic car market now. Look at the roundbody Chevy Pickups (88 on for the trucks and 91 and on for the K5 and Suburban). There aren't many left and their value is starting to climb despite them making a bajillion of them.
Joe Biden recently promised that he was going to 'take millions of cars off the road' and frankly I believe he's going to try. I'll believe this isn't something for the plebs and not the elite when he feeds that Corvette of his into a crusher on live television. Until then, it's rules for thee and not for me.
Anyways, I've always wanted a classic convertible and I wanted to buy it and drive it home. Just me, a classic car, a set of hand tools and my gumption. I was on a weekend trip with my wife and found a 1961 Buick Electra 225 Convertible with a 401ci Nailhead that needs a little (not a lot) of love (mostly electrical stuff on the creature comforts... which works out because I'm an Electrical Engineer). I bought her and am picking her up next Friday and am going to drive her across the state of Texas. I figure I'll enjoy her until they figure out how to take that away from me.