Unheeded Predictions.(prices and rates of automobiles)(Column)

Byline: Cory Farley

The first story I wrote for a car magazine that I can remember involved the Los Angeles Times and a crystal ball, which hindsight shows was clearer than I had any right to expect.

The premise was that there were cars a normal person could afford that would, if you didn't tear the wheels off them, quietly appreciate. If I'd taken my own advice, my name could be up there with Lutz, Penske and Petersen today.

Research was minimal: I skimmed the classified ads, then consulted experts, whose predictions I largely ignored.

Reading the thing today makes me look like a genius, but context knocks off some of the gloss: At the time, mid-1970s, a new car cost $4,000, and an editor at a major automotive magazine was happy to pull down $900 a month. Money was money.

Not always a lot of money, though. Among the possibilities was a Bugeye Sprite for $200 to $400. You might rather hitchhike than drive one today, but it was everybody's darling circa 1960. The Times listed beaters for less than $400. Good luck now for 20 times that.

Then there was a Mustang V8 for $800 to $1,200. These were just used cars then, not ...