personally, i think "classic" is a very generalized term. classic car means a lot of different things to different people. I think classic and i think GT350, or a boss 429 because my dad was a car guy and growing up he always told me about his first car. it was a '65 6er mustang in what he called ice blue. he used to tell me how his friends in highschool had boss's and one guy even have a gt500. my first car was a 1997 v6 mustang in pacifica green, tan clotch interior. nothing special. . . but it had a 5 speed and i thought that was just tops, a 5 speed mustang! the coolest right? and just like my dad my buddies all had cobras or modded GT's. and of course i was the slow one of the bunch but i stilled loved that thing. well life goes on, i crashed it one night and drove some crappy 88 town car for a while and then a pretty nice explorer limited. but every time i walked out to my car in the morning i just wished to god it was a cobra. finally i got ready to let go of the explorer and try to find what i always reeaalllly wanted, a 1996 Cobra mystic. throughout the search me and my dad looked at a lot of cars. one was a 1970 boss 302 that a guy was selling for 9k, crazy right. we took it for a test drive and i could tell from the look on my pops face he felt like he was 16 again. long story short, that one didn't work out. but after months on end of hunting i finally found a mystic and was able to do a clean trade with my explorer for it. it's got seats that are gone to hell and needs a repaint bad but every time i walk out to it in the morning i feel like i'm 16 again. will the prices ever warrent a home loan? who knows, i do know when i spent the 6 years oggling over mystic on ebay they were all at least 10k if not more out of my price range so maybe that foreshadows coming tales. even with my cobras shitty paintjob and ratty interior 9/10 people that see it go crazy for it. i've even gotten a few "now that's a real car right there"s. but to me, a classic is a damn good looking car that goes like hell and makes you feel like you did the day you got your license so in my eyes its already is a classic.
sorry for the mouthfull, just got me going a little bit.