Why Second Hand Holden Monaro So Expensive?

April 25, 2024

Have you ever wondered why the price tag on a second-hand Holden Monaro seems to defy logic? In a world of cars for sale where depreciation is the norm, these iconic Australian cars continue to command premium prices on the used car market.

But what exactly makes these concept cars so valuable? Join us as we throw ourselves into the fascinating world of Holden Monaro and uncover the secrets behind it’s enduring allure.

Get ready to be intrigued and enlightened as we unravel this automotive mystery.

History of¬†Holden Monaro’s

Vintage Holden Monaro in blue, parked in a studio setting. This classic car model is known for its historical significance and limited availability, contributing to its high second-hand market value.

A Quick Guide to the Holden Monaro Cars

The HK Holden Monaro was a big deal for Holden. It looked like those cool American sports cars. You could choose from many different features when buying one.

The simplest model has a small six-cylinder engine, but it got more exciting with a 5-litre V8 engine or even a stronger engine in the top model, the GTS. The design for the HK Monaro started in 1964, and you can see a sketch of it on the cover of the 1968 Holden Annual Report.

Creating this car was more than just a one-person job. Joe Schemansky led the design team for Holden at the time, and he had already designed some awesome cars in the US before coming to Australia.

Updates and More Holden Monaro Models

Two Holden Monaro models side by side, showcasing the evolution from classic to modern designs. The vintage blue Monaro from the 1970s contrasts with a modern green Monaro, illustrating the model's long-standing appeal.

The HK Monaro was quickly updated to the HT Monaro with better performance and became very popular, although it was expensive and only made for eleven months. It introduced new engines, such as the Chevrolet SS, which were sold in South Africa.

Then came the HG Monaro, which had minor changes to make it look different and improve body style. The HQ Monaro started a new design generation and offered different engine options, including a less powerful version of the V8 engine. It also focused more on looks than speed.

The HJ Monaro kept the same body design but got a facelift with new front metal parts and updates inside the car. It could come with spoilers and unique black stripes on the front. However, the 350 Chev engine was no longer an option, making the previous model collectable.

Only a few HJ coupes were made, and the tradition of powerful four-door V8 sedans continued with the HJ. It also had a new design for the black stripes on the hood.

The Story of the HX Monaro and Beyond

The HX Monaro was one of those cars, but something interesting happened. Even though it was a cool car, people weren’t buying the 2-door version much anymore.

They liked the 4-door sedan better because it was more practical. So, to sell off the 2-door cars they still had, Holden made a particular version called the LE. This unique car had fancy parts from other nice cars like the Monaro and Caprice and even had cool wheel covers that looked like something from a Pontiac.

Most people ended up buying the HX Monaro as a 4-door sedan, which was called the GTS. You could get one with bumpers that matched the car’s color, which was neat.

Moving On to the HZ Monaro

After the HX, they stopped making the 2-door Monaro. So, when the HZ came out, it was only available as a 4-door sedan. But here’s the twist: they didn’t call it a Monaro anymore.

It was known as the Holden GTS sedan. The best part about it? It finally drove like a dream thanks to radial tuned suspension (RTS). This made the car handle way better on the road.

The Comeback with the V2 Monaro

Fast forward to the late ’90s, and the VT Commodore is all the rage. GM Holden is making good money and decides it’s time to bring back the Monaro in a big way.

Not just the Monaro, but also some other cool versions of the Commodore, like ones with a tray at the back, four doors, and even a 4-wheel drive station wagon. The Monaro was back and cooler than ever!

Reason Why Holden Monaro is Expensive 

The Holden Monaro is a beacon of automotive excellence, embodying a rich tapestry of history and cultural significance. This iconic car has carved out a unique place in the hearts of car enthusiasts worldwide. Let’s delve into the key aspects that make the Holden Monaro a vehicle and a legend.

Historical Significance

The journey of the Holden Monaro began in the late 1960s. It marked an era of innovation and bold design in the automotive industry. With models like the HK, HT, and HG, the Monaro set a new standard for performance and style.

It was a car that represented a turning point. Not just for Holden but for the Australian car market, embodying the spirit of adventure and freedom of the time.

Limited Availability

Part of the allure of the Holden Monaro is its limited availability, which adds to its exclusivity and desirability. Over the years, various models and iterations have been released, each with unique features and improvements.

This scarcity has turned the Monaro into a sought-after collector’s item, with enthusiasts eager to own a piece of automotive history.

Cultural Icon

The Holden Monaro is more than just a car. It’s a cultural icon that captures the essence of Australian motoring heritage.

Its appearance in various media and its role as a symbol of high performance and Australian craftsmanship have cemented its status in popular culture.

The Monaro is not just remembered for its engineering feats but also for its contribution to the identity of Australian car culture.

Quality and Craftsmanship

Before discussing the Holden Monaro, one must mention the exceptional quality and craftsmanship that went into its creation.

From the sleek lines of its exterior to the powerful engines that roared to life under its hood, every aspect of the Monaro was designed with precision and care. This attention to detail ensured that the Monaro was beautiful and exhilarating.

Investment Potential

With its rich history, limited availability, and status as a cultural icon, the Holden Monaro represents a significant investment opportunity. As time passes, the value of well-maintained Monaros is only expected to increase, making them a joy to own and drive and a wise financial investment.

Key Special Features and Specifications of Holden Monaro

Close-up of the engine bay of a vintage Holden Monaro, featuring a highly detailed and polished engine setup with multiple chrome parts, reflecting the quality and craftsmanship of the vehicle.

Fuel Consumption

The Holden Monaro is a versatile car in different styles, all powered by premium unleaded petrol (PULP). Its fuel consumption varies depending on the model year.

The most recent models start at 15.3 litres per 100 kilometres. For instance, the 2006 version of the Monaro coupe consumes 15.3L/100km and features a 5.7L engine paired with a 6-speed manual transmission.

In 2005, the same coupe style saw a slightly lower fuel consumption at 13.7L/100km, still with a 5.7L engine but this time with a 4-speed automatic transmission. The 2004 model improved fuel efficiency further, consuming only 10.2L/100km, maintaining the 5.7L engine and returning to a 6-speed manual transmission.

By 2003 and 2002, the Monaro coupe models recorded a consumption rate of 10.1L/100km, but a smaller 3.8L engine powered these and came with a 4-speed automatic transmission.

Wheel Size

The Holden Monaro offers a variety of choices for wheels and tires. For example, in 2006, the Monaro Coupe came with tires sized at 235×40 R18 and wheels that were 18×8 inches big. This setup was the same for 2006, 2005, and 2004.

However, in 2003 and 2002, the Coupe had slightly different tires and wheels. The tires were 235×45 R17, and the wheels were 17×8 inches.

So, while the tire and wheel sizes have changed somewhat over the years, the Monaro has consistently offered options combining performance and style.

Towing Capacity

The Holden Monaro, no matter what year model you look at from 2002 to 2006, can tow up to 1600kg when it has the right equipment for towing. If you have a trailer or something else that needs towing, the Monaro can handle up to 1600kg of weight behind it.

What To Check When Buying a Second-Hand Holden Monaro

Interior view of a modern Holden Monaro, showing a sleek black leather cockpit with state-of-the-art controls and a sporty design, highlighting the car's blend of luxury and performance.

When you’re in the market for a Monaro, especially if it’s a first V2 model that’s no longer under warranty, there are several critical areas you’ll want to examine closely to ensure you’re making a wise investment in a vehicle that won’t just look good but will also be reliable and maintain its value.

Service History and Warranty

First, checking the car’s service history and ensuring it aligns with the dealer’s records is crucial. This helps verify the vehicle has been appropriately maintained and allows you to see if any warranty work was performed, which could be important if those issues arise again.

It’s also important to ensure that all the car’s documentation is consistent, including service records, warranty claims, and the vehicle identification number.

Engine and Transmission Checks

The heart of the Monaro is its V8 engine. Not all engines had issues, but getting a professional to conduct a compression test to check for potential problems is a good idea.

If looking at a model with a 6-speed manual transmission, listen for any unusual noises or resonances and find out what can be fixed under warranty. Automatic transmissions, especially in earlier models, need careful examination to ensure they function correctly.

Modifications and Upgrades

Modifications can add a personal touch or improve performance, but caution is essential. For example, a VZ bonnet with vents might look cool, but consider how it impacts the car’s originality. Always ensure that tires and brakes meet or exceed the original specs for safety and performance.

Interior leather should be inspected for any damage or wear and treated with UV-protective conditioners to prevent further damage.

Upgrades like exhausts and intake systems should match factory quality, and keeping original parts could be beneficial for meeting environmental regulations. Be wary of ECU upgrades, as not all prove successful.

Body and Driveline Condition

Inspect the Monaro for lower body scrapes and check for oil leaks in the driveline. Every switch and accessory inside the car should function as intended.

It’s wise to have a professional inspect any major body repairs to ensure the paint finish and panel fit are up to standard, which can affect the car’s value and longevity.

Legal and Ownership Checks

Ensuring the car hasn’t been involved in illegal activities, such as theft or rebirthing, is vital. Any inconsistencies in the car’s specifications, history, keys, plates, or VIN should be thoroughly investigated.

Try to find a Monaro with only one owner, perhaps someone selling after a lease or for a legitimate reason, especially if you plan to keep the car for a long time.

Frequently Asked Questions

How Many Monaro Models Are There?

The Monaro, which gets its name from a place in New South Wales but is said differently, was first shown by Holden in July 1968.

This cool two-door car without any pillars in the hardtop came in three different types: the base model, the GTS, and the GTS 327.

Is A Monaro A Muscle Car?

The Monaro is often debated as an actual muscle car. While the Falcon GT/GTHO was powerful, it was a sedan. This shifts focus to the Monaro as the original Australian muscle car due to its sleek coupe design and powerful engine.

Essentially, the model Monaro holds significance in Australian automotive history as a representative of the muscle car genre.

Is the Pontiac GTO a Holden Monaro?

The Holden Monaro directly influenced the Pontiac GTO. Introduced at the LA auto show in early 2003, the reborn GTO sold over 40,000 units despite being criticized by Americans for its “bland” design.

In response to this criticism, the GTO changed for the 2005 model year, including adding non-functional slots in its hood, a feature also found on the VZ Monaro.

What Is The Most Potent Engine In Holden’s?

In March 1973, the four-door Monaro was added to the HQ Holden line-up, available as GTS or GTS 350. GTS had 4.2 or 5.0-liter Holden V8s; GTS 350 had a 5.7-liter Chevrolet engine.

Both coupe and sedan were in HJ, but only the sedan continued in HX, named LE. In HZ, the Monaro was replaced by the GTS sedan.


These iconic cars of Generation Monaro hold a special place in the hearts of automotive enthusiasts. Whether it’s their powerful performance, sleek design, or rich history, there’s no denying the allure of owning a piece of Australian motoring history.

If you’re inspired to acquire a Holden Monaro, look no further than Mad Man Motors. Our dealership offers top-quality, well-maintained Monaros and other classic cars.

Visit our showroom today and let us help you find the Monaro of your dreams. Take advantage of the opportunity to experience the thrill of owning one of Australia’s most iconic vehicles.

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