All About The 1982 Pontiac Firebird, And How Much It's Worth Today

By the time the third generation Pontiac Firebird arrived on the scene in 1981, the Firebird name had already been etched into American consciousness for 15 years. Since its inception, it was one of the fiercest competitors to the Mustang, one of the most iconic Ford models ever built. It was part of the same 'pony car' segment that captured a massive part of the young go-fast market in the late 1960s and early 1970s. Kids of the era wanted small, powerful cars that were cheap and looked good, and that's exactly what Pontiac offered with the Firebird.

The first-generation Firebird (1967-69) relied on its strong engine options and comparatively luxurious interior to set it apart from the competition. That changed with the second generation (1970-81), which was stifled from a power standpoint by heightened emissions restrictions and the 1973 oil crisis. Despite the second-generation Firebird's lethargic engine options, its styling and cultural relevance — with appearances in massively popular movies like "Smokey and the Bandit" — kept the name alive into the next decade.

The third generation of the Pontiac Firebird went on sale in 1982 and brought some major changes. It was light, sculpted, (relatively) powerful, and designed for agility rather than straight-line speed. Throw in some pop culture fame and you have an '80s poster car.

By the end of the Firebird's second generation, it had lost the majority of the high-power engine options that were available at the start of its run. Gone were the beastly 400-cube Ram Air IVs and 455 cid V8s that made 370 horsepower and 335 horsepower respectively. While the high-output engines disappeared by 1973, the second-gen 'Bird didn't get any lighter. For that reason, the Firebird lost its hot-rod spirit by the early 1980s, with even the highest-trim Trans Am only producing about 210 horsepower from a turbocharged 301 V8 in 1981.

While emissions regulations were still stifling high-output engines in 1982, GM looked elsewhere to make the third-generation Firebird a true performer. Engine options in 1982 remained somewhat unimpressive, with even the most powerful LU5 5.0L V8 only producing 165 horsepower. The standard engines were even weaker, with a 90-horsepower four-cylinder and 102 horsepower V6 being the most common options in the Firebird.

Weight and aerodynamic efficiency were the biggest advantages of the 1982 Firebird, losing around 500 pounds on average from the year before. It was also the first Firebird to be designed with the help of a wind tunnel, ensuring that it cut through the air instead of fighting it like earlier models. A new sloped roof and pop-up headlights were both functional additions and key styling features. A 1982 Trans Am also became the talking car Kitt in the seminal 1980s TV series "Knight Rider," which elevated the third-gen Firebird to legendary status.

The value of 1982 Pontiac Firebirds in the modern age is massively contingent on the model being sold. In 1982, the Firebird was offered in a number of different trim levels including base model, SE, and Trans Am variants. Each of those versions was available with different engine options ranging from the 2.5L inline four to the "high output" 5.0L turbocharged LU5 V8. Depending on the trim and engine, a 1982 Pontiac Firebird can fetch anywhere between $5,000 and $60,000 today, with the average hovering somewhere around $17,000. Despite still being pretty valuable today, the third-gen cars trail behind first and second-gen examples when it comes to how much Pontiac Firebirds are worth today.

It's important to mention, though, that those numbers are really only accurate for high-trim SE models and Trans Am models equipped with either the LG4 305 V8 or the turbocharged LU5 V8, as there are very few models below that trim level that have sold on reputable auction sites. Since high mileage examples of even the most popular 1982 Trans Am Firebirds can sell for as little as $5,000, it's fair to assume that lower-trim versions of the Firebird can be had for relatively cheap.

That isn't entirely bad news, as lower-trim 1982 Firebirds seem to be sought out in the tuning world as good cars to engine swap. While 1982 Firebirds with factory four-cylinder or V6 engines may not be worth much, there are some interesting lower-trim, engine-swapped examples that have fetched upwards of $9,000 on reputable auction sites.