Clunkers Just Got Cool

May 23, 2006 — -- Just after grabbing his diploma, Casey Taylor-Perry wanted nothing more than to grab a set of car keys as a graduation gift from his parents.

Taylor Perry's wish came true. He got a Pontiac Parisienne just as old as he was. "It's a great car with only 85,000 miles on it, but it has some problems, and I can't wait to fix it up," he said.

Who would have ever thought this new generation of grads used to living in a disposable world would think a 22-year-old Pontiac nearing six-digit mileage would be a "cool" gift.

Taylor-Perry is part of a new breed of both high school and college graduates who want to fix up old clunkers. Some do it for vanity, some do it as a hobby, some do it to save money, and some do it for the environment. Despite the reason, one thing is certain: getting an old clunker and spending the summer fixing it up is hot.

However, for the automotive industry this could be a very scary proposition. The college graduate market alone represents about $15 billion for the automotive industry, according to the College Explorer Survey conducted by Harris Interactive.

"Memorial Day weekend is one of the three biggest weekends of the year for sales in the industry," said Marc Cannon of Auto Nation.

The last thing Taylor Cahill wants is a new car. He's still waiting for his parents to get his graduation gift and hopes they get him an old diesel Mercedes 300D to drive through the cobblestone streets of Boston.

Cahill wants to work on making that old diesel run off waste vegetable oil. He says he got the idea from a buddy. "One of my friends has a waste veggie oil-powered bus. He inspired me a lot to get my own environmentally friendly automobile."

Cahill wants a clunker so he can do his own high-quality repairs. That's another added incentive -- he'll be saving money. With gas and diesel prices hovering around $3 a gallon, Cahill can say goodbye to high-priced pumps when he says hello to veggie oil.

"I want a classy ride that's environmentally friendly and independent of big energy companies. And I'd like to have a mural painted on it, essentially turning it into an art car," said Cahill.