2001-2006 Holden Monaro CV8 used car review

Some cars are born great. Others have greatness thrust upon them.

Holden's latter-day Monaro of 2001 was, in reality, a bit of both.

Originally secretly conceived by a few true believers within Holden, including chief stylist Mike Simcoe, the Commodore Concept Coupe, as it was then known, came about in the late 90s and finally broke cover - to huge amazement, including some high-ups at Holden itself - at the 1998 Sydney Motor Show.

What started as a 'what-if' project by a handful of enthusiasts suddenly became the star of the show and, amid public and media pressure, Holden soon realised it must put the car into production.

It was also soon obvious that the name Monaro should be resurrected for the swoopy, full-sized coupe.

The first production cars hit showrooms in 2001 and were an immediate sales hit with Holden going on to build a total of 55,000 Monaros up until 2005 when the VT/VX/VY/VZ platform on which the Monaro had been based was ready to be replaced by the new-for-2006 VE architecture.

Those early cars were available with the 5.7-litre alloy V8 with either a four-speed automatic or six-speed manual (dubbed the CV8 model) or a supercharged version of the Commodore's 3.8-litre V6 with automatic-only (CV6).

The latter didn't last long as Holden soon found that the vast majority of buyers wanted a V8 engine in their Monaro.

The Series 2 came along in December 2002 with a little more power and the cleaner looking dashboard of the VY Commodore. Series 3 cars arrived in August 2003 and the very last batch, the CV8 VZ, came along in September 2004, complete with a twin-nostril bonnet, specific wheels and even more power with 260kW.

It's also worth mentioning that the Monaro managed to pull off a classic coals-to-Newcastle move by being sold into the US market as a Pontiac-badged muscle car.

Not only was this a major coup for Holden, but the car in question was badged as a GTO, recalling one of the most famous badges in Pontiac history.

The thing pushing Monaro values right now, of course, is the impending closure of Holden's Australian manufacturing operation.

While older Holdens are being snapped up by collectors, the Monaro has also come in for the same attention, partly because it's a landmark model, but also because, being a newer car, it's a classic Holden that is useable on a day-to-day basis in terms of its performance, durability, equipment levels and safety.

So what do you look for when buying a second-hand Monaro?

For a start, it's pretty safe to ignore the CV6 model. It actually drove pretty well, but only a V8 will do in a car like this.

Early cars are not quite as highly prized thanks to their fussier dashboard (mainly) but they can represent good value as there's not much else to separate them from newer versions.

The last, 260kW CV8Z versions with a factory sunroof, and all the specific additions like the alloy wheels, are probably the real collectible ones (unless you really value the first series of any model) but the look is not as clean with that Pontiac bonnet with its twin scoops.

Either way, always buy on condition as these are hardly new cars any more. That said, don't be too put off by a car with its share of kilometres showing. Really low-mileage cars will stretch your wallet and then demand to be kept under wraps and off the road if you're going to avoid trashing that value.

So as a driver, a Monaro with closer to 150,000 or even 200,000km is a better bet. It'll be about half the price of a low-miler (or even less) and you won't be tearing up dollars by electing to enjoy it as a car.

Being based on the Holden Commodore, there's not too much that's not already known about these cars.

Some early 5.7-litre V8s had oil-burning problems and could sound rattly when cold, but by the time the Monaro came around, the LS1 engine (as it's known) was more or less sorted out.

Major oil leaks, though, suggest a worn engine and the automatic transmission will, unless you're lucky, have a lifespan of somewhere around the 180,000km mark before it needs major work.

If you are buying a Monaro as any kind of long-term investment, then definitely avoid modified cars. If the owner has replaced the standard alloy wheels with aftermarket ones, make sure the originals are dusted off and included in the sale.

Many Monaros also got additions like aftermarket exhaust systems which wouldn't worry us, but more extensive engine alterations won't add value and, in fact, may detract from a car's collectability.

Check the condition of the tyres to see if there's any unusual or uneven wear, particularly the rear tyres. That said, the Monaro got the extra rear link that was fitted to later Commodore sedans to sort out the rear-tyre wear issues and make the car steer better.

Either way, be aware that brake pads and tyres can be used up quickly in a big, heavy, fast car like this.

The leather trim was standard on the Monaro and the big, heavily bolstered front seats are comfy and look good.

The rear seats were also comfy with plenty of leg and head-room, although the Monaro is a four-seater rather than the Commodore sedan's five.

But the leather can wear, particularly on the driver's outside bolster where people have got in and out over the years.

Check the gearshift boot and leather-clad steering wheel for signs of wear and tear, too.

Finally, don't forget that while there was a lot of commonality with the Holden Commodore, the Monaro does have some specific bits depending on which model you choose.

Things like exterior mirrors and ever sun-visors were Monaro-specific at various points in the car's life, so they can sometimes be difficult (read: Expensive) to track down and replace.

Nuts and bolts

Engine/s: 5.7-litre V8

Transmissions: 6-man/4-auto

Fuel economy (combined): 13.4 litres per 100km

Safety rating (courtesy of www.howsafeisyourcar.com.au): 3 stars

Our rating: 3.5 stars

Likes:

• Big and comfy, especially for a coupe.
• Plenty of performance from lusty V8 engine.
• Commodore running costs.
• Looks great and will be collectible.

Dislikes:

• Not a sports car by any stretch.
• Strict four seater.
• Expensive for what it is mechanically.
• Some have been radically modified.

Competitors:

Holden Commodore SS - Identical mechanical package (apart from some steering refinements) and good value now. Big, boofy performance car. Watch out for hot-rodded examples. 3 stars

Ford Falcon XR8 - Not a coupe, but similar concept beyond that with big-capacity V8 and lots of mile-eating ability. Engine is higher tech but performance very similar. Weird driving position. 3 stars

Chrysler 300C SRT-8 - Again, not a coupe, but gangsta look appeals to many. Huge performance from even bigger V8 than the rest, but interior quality lets it down a little. 3.5 stars

What to pay (courtesy of Glass's Guide):

Model     Year       New        Now

CV8        2001       $56,990  $9400

CV8        2002       $57,850  $11,000

CV8        2003       $58,750  $12,500 

CV8        2004       $59,950  $15,100

CV8        2005       $60,490  $18,200

CV8        2006       $60,490  $20,200

• For more information visit our Holden showroom page