What got me interested in buying a 1986 Chevrolet Monte Carlo SS about 3 years ago? As a racing fan, I was aware of its NASCAR history, with famous driver like Dale Earnhardt associated with it. I have seen many of these G-Body, 2nd generation Monte Carlo SS in performance publications. It was considered the "last muscle car" by many Chevrolet fanatics, as it was one of the last rear-wheel drive, V-8 equipped car made by Chevrolet. Finally, the last straw - a friend I met at work owned two of them and convinced me to get one for myself.
I was either the third or fourth owner of the car. It was slightly unusual as it came from the factory with a column shifter, limited-slip rear end ("posi"), but no center console or power door locks. The exterior color was silver, and the interior was maroon. The paint was starting to "checker" on the hood, roof, and trunk, and there were minor dents and scratches, but otherwise the car was in excellent condition, everything original, including the A/C which worked great. I think I paid $4000 for it.
The original 305 H.O. (High Output) V-8 engine had about 120,000 miles on it, and it ran strong, but I felt it was starting to get tired. The Overdrive gear allowed the engine to rev very low (just above 2500 rpm at 70+ mph) but the car couldn't go up the Grapevine without downshifting. The car rode very soft, like many early-to-mid 80's General Motors cars, a bit too mushy for my taste. The interior and trunk spaces were very abundant, as I had used the car to shuttle people to the airport with their luggage many times, without problems. There were signs of aging, like headliner drooping, and driver's side weather stripping losing its seal, causing wind noise at freeway speeds. I consider this to be "spotty quality" as I've owned older cars with original interior that haven't worn out as much.
Recently, I decided to sell the SS, as I wanted to own Japanese cars again. I was surprised to be able to sell it for $4000 even though I put about 25,000 miles on the car and didn't fix anything, except for the starter which burned itself out. (This is a common problem with mid 1980's V-8 engine Chevrolets - the starter motor is not heat-shielded against the exhaust pipe which is too close.) My guess is that the collector demand is starting to outpace depreciation, which means the car's price will start to go up soon. I've noticed however, that there aren't too many original Monte Carlo SS left, as most are modified, the most popular conversion being the replacement of the 305 H.O. engine with a 350. This will probably drive up the price of the originals even more. (Note: many Chevrolet mechanics in my area have bought them and stored them away)
The second generation G-Body Monte Carlo SS (1983-1988) may not be for everyone, as its boxy styling may not have mass appeal. Unless you buy one with low-mileage that was stored as a collector car, you'll probably have to put some work in it to restore it to collectible condition. However, because of its racing heritage and other collector factors, the last rear-wheel drive Monte Carlo SS may be a good buy, especially for Chevrolet fans.
Some information on the Monte Carlo SS is available on my website @ http://www.geocities.com/mini-ss/monte.html