Thirty seven years ago, when General Motors announced that, due to impending rollover safety regulations, they would discontinue making convertibles, people flocked to Cadillac dealers to buy what they thought would be the last Caddy convertible ever. That’s one reason why there are so many low mileage 1976 Eldorado convertibles to choose from. Collectors and speculators thought they would be instantly more valuable as collectors items so they bought them and stashed them away in garages and warehouses. As it turned out, manufacturers figured out how to make ragtops that are safe in a rollover so 1976 was not the end of convertibles. The ’76 Eldo, though, was the last of a breed because in 1977 GM downsized their fullsize cars. Never again would a 500 cubic inch powered behemoth like this land yacht be produced by a major Detroit automaker. Though they haven’t appreciated like the speculators anticipated, the maximum Eldorados aren’t cheap. A nice low mileage example might cost as much as $30,000.
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