November 27, 2020: 1976 Cadillac Eldorado convertible . . .
Read MoreThe ninth generation Cadillac Eldorado from 1971 - 78 is one of my all-time favorites, especially the convertible models. I would love to have one, but I the asking prices for these cars have escalated quite a bit over the years. Always on the lookout for a bargain, I was headed to Walmart on this day and was quite surprised to find one for sale not just locally, but a few miles from my house. Naturally, I had to stop to have a look.
This is a 1976 Cadillac Eldorado convertible. According to the owner of the garage in the background, the car belongs to one of his customers. The asking price was $6,500 OBO for the 28k mile car, which is more than likely 128k miles. The car was driven to the shop and runs very well, but has a few issues that need to be addressed.
The "Last Convertible" marketing also put the 1976 Eldorado convertible in the same category as other automotive "investments." Many of these cars were purchased new and then put away in climate-controlled storage for, in some cases, several decades. When these ultra-low mileage museum quality cars, (some with single digit odometer readings and graded #1), emerge from their long naps, they bring big money at collector car auctions. Cars with normal wear and tear and appropriate mileage, (#2 or #3 grade), still go for $15k or more.
This car, however, was not one of those. The $6,500 asking price gives the potential buyer an indication of what to expect.