For various reasons, some things are sold at far below their intrinsic value. These are usually difficult to find and when it comes to vehicles, it gets complicated. I think it's because cars are seen as part of a person's persona. How they want to be perceived, conveying their status or wealthy or power, ego, image, etc.
Eg. I obviously love wagons, they have horrid public opinion, don't sell well and thus can be under-valued quite easily. (Especially yellow ones btw) :)
So, what do you think are very undervalued vehicles? Try to be objective, set aside your preferences/hang-ups/emotions and suggest vehicles that are on the used market that are a great bargain and explain why...
C4 Corvettes - they seem to be going for less than the Mustangs and Camaros from the same era, but have a way better chassis and would make a great track toy.
99-00 Miata's seem to be pretty cheap in comparison to what people want for a BP4W engine.
Ferrari 308, and Mercedes 560SL. The Ferrari can be had for $35K or so (but not for long), the Merc can be had for $10K in great shape---- which is just a silly amount of car for that $$--- maybe the best built Mercedes ever.
I'm guessing the Ferrari will be a $50K within 10 years, and the Merc will be $20-$30K. But that's just my best guess. 
In reply to Joe Gearin:
That clinches the perfection of my new business plan! Round up a half dozen 308s and move to Hawaii, where I'll rent them out by the hour. I'll work on Ferraris, eat loco moco, and try to ride my bike up Mt Haleakala enough to not die of loco moco...
When it's time to retire, if I've stayed on top of the 308s, they'll be worth serious $$$.
Please stop mentioning 308's. I really don't want to have to explain to my wife why they are a good deal.
RX8
Earlier ones are going ridiculously cheap and their issues are overblown - especially compared to the i$$ue$ on the E36, Boxster etc...
The VW Phaeton was the best recent example. Cost a fortune new, but they didn't catch on because people wanted a premium brand for their money. They hit the used car market a few years later for pennies on the dollar. But the car was awesome! Solid as a rock, loaded with features and comforts, good power or great power, dependable, sexy, stealthy, and they are still in production overseas, so parts are not an issue. I wish I could have snatched one up when there were still low-mileage ones in the mid-$20s. You can still get them under 100,00 for under $15K
Ransom wrote:
That clinches the perfection of my new business plan! Round up a half dozen 308s and move to Hawaii, where I'll rent them out by the hour.
Be sure to rent stick-on mustaches for extra money 
And for the rental company name. "Higgins Ferrari Rental" Tell them Magnum sent ya!
Mike Kirby
Let me know if you need employees. I'll work cheap.
shelbyz
New Reader
2/20/14 1:53 p.m.
Geo Prizms.
They're the same car as the Corolla and offer the same virtues as a corrresponding era 4dr Civic. However, the sell for much less than the two mentioned Japanese brand Econo's. Myself and some of my buddies have bought and owned acceptable looking, turn key, running and driving examples for anywhere between $700 and $1500 dollars.
Hell, I'd be willing to pay a premium for a rust free example with 3 pedals. I miss the laughably cheap and easy repairs, 30 city and 40+ highway MPG's (even after the car took DAILY beatings), being able to change the oil with all four wheels on the ground, and the practically free insurance.
I think the same can be said for another GM Captive Import, the Saab 9-2X... They're (05's atleast) getting much cheaper than their Subaru equivalents, while they come with some factory added STi goodies, a more sleeper appearance and lower insurance premiums.
X300 and X308 XJs particularly the XJ6R.
Since I'm currently shopping for one, Pontiac GTO. Where else can you get 400hp of LS2 goodness for 10 grand-ish?
Leafy
Reader
2/20/14 3:27 p.m.
E36 non-M3s. Seriously they should cost 6000 not 2000.
Matt B
SuperDork
2/20/14 3:46 p.m.
I always though E36's were going for shockingly little these days.
MK1 MR2s could be had for stupid cheap money for years, but now the pool of decent ones are drying up so that's starting to change. A little.
Pretty much any C5 or C6 Corvette. Targa top, RWD, 6spd manual, LSx V8, good gas mileage for road trips, comfortable, cheap to buy, maintain and insure. Bang for buck o'meter is pretty high if you're in the 15-25 grand range.
wspohn
Reader
2/20/14 4:25 p.m.
Joe Gearin wrote:
the Merc can be had for $10K in great shape---- which is just a silly amount of car for that $$--- maybe the best built Mercedes ever.
Except like the XJ12 Jags, the minute something does break, you must roll it into a ditch and give it a mercy shot to the power plant, because if you decide to try and fix it, you'll almost instantly have more in it than just going out and buying another one.
A friend got caught up in fixing a Jag V12 and had double the money into it that it would have taken to just buy another one and run it until it, too, kacked on him.
sanman
Reader
2/20/14 9:00 p.m.
Sn95 mustang. Very little love in the mustang community, but better than a fox and once you get serious about power, you throw away the stock engine anyway.
Z32 300zx turbo - complicated, but a monster if done right and a future classic.
Ford probe/mazda mx6 - the second gen was every bit as good as an integra.
A few toyota cars - the last gen celica, mkiii supra, ae92 gts corolla
Triumph TR8.
Name me one other car that was the last of the line, low production (2800), excellent competition history, British with an American V8 and you can pick up a great example for under $10,000.
