Camaro is a name that looms large among American muscle car lovers.  Ever since 1967, Chevrolet has battled with fans over what the Camaro should be, or even if it is to be at all.  In the early eighties, a replacement was on the way for this beloved platform.  Was it a bust or a future classic?  Thanks to reader PRA4SNW, we have an excellent example to examine.  For sale on Craigslist is this 1982 Chevrolet Camaro Z-28 in Bergen County, New Jersey.  Well-kept and in running condition, this silver beauty is pushing the outer limits of third-generation Camaro values with an asking price of 17,900.  Is that too much too soon, or a sign that these staples of eighties mall parking lots are ready for their time in the limelight?

When General Motors finally got around to designing and building the third generation of the Camaro and Firebird a lot of factors came into play.  First off, the second-generation car would have been in production for more than a decade when its successor was scheduled to come out.  The automotive landscape had changed quite a bit since then.  Government regulations were getting more stringent every year, bean counters and marketing gurus were pushing for lower costs everywhere possible to maximize profits, Ford had debuted a very good third-generation Mustang that was not based on the Pinto, and Corporate Average Fuel Economy (CAFE) standards were pushing anything that wasn’t a truck to front wheel drive platforms.  Add to that General Motors and their struggle with quality control during this time and you can see how dim prospects were that a worthy Camaro would emerge from the chaos.

When the new Camaro first hit the showrooms in late 1981, enthusiasts were floored.  GM styling hit this one out of the park.  With a steeply raked windshield and a true hatchback in the rear, the car’s chief designer Jerry Palmer had created a masterpiece.  It managed to win the award for Motor Trend Car of the Year, paced the Indianapolis 500, and set sales records.  Customers could choose a very mild four-cylinder powered base car, a more luxurious Berlinetta version, or the much sportier Z-28 with hood scoops and a Small Block Chevrolet V-8 under the hood.  Perhaps the biggest news for Camaro lovers was that this version was 500 pounds lighter on average than its predecessor.  Less weight equaled better performance.

Looking back, many are critical of the low output of every motor available in the Camaro in the eighties.  The criticism is valid when you compare the third-generation Camaro to the muscle cars of the sixties and the amazing amount of horsepower available to customers today.  However, the late seventies and the early eighties were very dark periods for enthusiasts.  If you wanted horsepower, you had to order the parts and build an engine that produced it.  What critics forget is that the Camaro and the C4 Corvette that followed for the 1984 model year were very cutting edge for the time in the departments of aerodynamics and handling.  When you compare a 1982 Camaro Z-28 to everything else being sold in the showrooms of the Big Three, it is light years ahead of the competition.  Only the Mustang comes close.

The 1982 Camaro Z-28 you see here is in exceptionally good condition for its age.  Many Camaros have suffered the indignity of being hot-rodded and beaten mercilessly as they moved from owner to owner to the junkyard.  Camaro owner stereotypes are often rooted in reality.  This one-owner Camaro must have been garaged, as the silver paint hasn’t baked off and the silver cloth interior appears to be free from damage.  Early eighties GM paint and upholstery often turned to dust after a few years of direct sunlight.  Silver especially.  The claim that the car has just 64,200 miles is surely legitimate.

The story on this car gets better.  It is a four-speed car with the original 305 cubic inch engine, a limited slip differential, T-tops, disc brakes, tilt steering, a leather-wrapped steering wheel, and factory air conditioning.  Included with the sale are maintenance records, the original owner’s manual, a shop manual, two sets of keys, and factory floormats.  It has also benefitted from new shocks front and rear, sway bar links, transmission and differential seals, and a refresh of the power steering system.

The third-generation Camaro market is dominated by the famous IROC-Z versions produced later.  Earlier versions of the Z-28 and lesser versions are often overlooked, and prices reflect that unfortunate fact.    Factor in that current lack of attention with the understanding that excellent original Camaros are hard to find.  Add to that the knowledge that automotive history will look back fondly on these early third-generation cars.  They were milestone cars for Chevrolet.  As collectors focus more attention on eighties cars, an excellent original Camaro Z-28 might make for a good investment.  It is just a question of whether the price this car is being offered at is what it is worth now, or what it will be worth in a few years.

Did you own a third-generation Camaro?  Do you think they are good investments now?  Please share your thoughts in the comments.