Yes, that is certainly an option, but can you imagine finding another CAMARO in mint condition? I have the order sheet, window sticker and ten years worth of oil changes. Also, $6k at least in mods and a $500 computer program to mod the engine computer that ONLY works for this car. And custom parts that have either references to the car or me. This was my Dad's car and now mine and meant alot and ran 350 hp great! until Monday.
These days with the internet you can search far and wide for specific vehicles. eBay motors is one place to start. The few times I have looked there I was surprised to find true rare exotics for sale like Ferrari F50s. For your 1996 camaro I got 14 hits on eBay. Good Luck
Carry those receipts and paperwork with you when you go to negotiate the value of your car. The adjusters who will value your car will work with bluebook and comparables... most of which are stock. You should be able to claim compensation for the unusable computer program... and get a dealer in like cars to give you a valuation of a similar car with similar mods. You will be best off if you can show current sales of modded cars (eBay? or car auctions) where the value is obviously over stock cars. You cannot be compensated for the emotional value because it was your dad's car. Bring any bills for work done customizing the car by legitimate garages and customizers. Include any photographs of your car in pristine condition.
You might be better off by preparing a pre-emptive demand amount.
If they refuse to negotiate, demand they find a comparable car with similar mods that you can buy for their offered amount.
You might also get a statement from your mechanic about the condition of the car.
By the way, don't make the mistake of assuming that because the driver who hit you was driving an older car, that they have no assets or adequate insurance. Apparently they did pay for insurance.
We you injured? If so, you are entitled to compensation for lost time, medical bills, transportation to and from doctors, etc., and pain and suffering that may total up to five times the medical bills you incur.
If you have all the receipts for the upgrades, you need to copy them and include that when you contact or are contacted by the claims dept. They should at least consider the value of the car because of the upgrades.