Cheap A.L.F.A.: 1988 Alfa Romeo Milano

 As late model European sports cars of various questionable pedigree start to take off in value (driven by the investor/collector) there is money to be made in keeping one step ahead of the crowd.  Most everything with an M badge or the Stuttgart crest is already overpriced, so perhaps it is time to look at something from one of the oldest Italian marques — Anonima Lombarda Fabbrica Automobili.  Like this 1988 Alfa Romeo Milano offered for $1,500 near Raleigh, NC via craigslist.  Tip from Hunter.

The Alfa Romeo 75 was sold as the Milano in North America, but it used the same front-engine rear-drive setup with a torsion beam up front and a de Dion tube out back.  With a set of sticky tires and smooth pavement, these things are fun to toss around.

European buyers could get various inline-4 gasoline and turbodiesel engines, but the US spec Milano only came with 2.5 or 3.0 liter Busso V6…which isn’t a bad thing at all.   The fuel injected V6 puts out 156 horsepower and 152 ft-lbs of torque into a 5-speed manual transaxle mounted in the rear.

See a better good luck charm for cheap?