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How to take $30,000, add $40,000 and make it worth $27,000!
So you are essentially saying all C-body owners are Democrats?
That seems to be the normal C body return on investment by percentage.
I think the same is true with all restos except the very rare cars. I would guess most of the Graveyard cars are actually worth less than the “investment” in the rebuild. That’s the hobby part of old cars!
It's a passion. If you think your going to get a return on your car restoration investment then you must be as dumb as a far right winger. It's only money, spend it.... be happy. You won't miss it when it's gone.
.I plan on being the poorest man in the cemetery
I still have nightmares about $200 I spent as a kid.
Some investments take a little more time to pay off than others. Doing it "right" is the best way to do it, even if it takes longer. Have to "do right" by the vehicle and its future.
One car club I'm in toured a high-end restoration shop a few months ago. The manager said that each car averages about 125hrs of labor @ $100.00/hr. Their shop was full with a waiting list of about 53 cars waiting to get in. Paint and parts not included!
Money in circulation keeps the economy healthy. Stock prices keep the retirement funds healthy. Spend wisely!
So is anyone gunna tell him the attachment doesn't work?
Money's not worth anything until you spend it.
I want my last check to bounce.....
30K in a 100.00 car...Hagerty says worth 17K..
It is not about the money for me. It has been a passion all my life.
12 years working on her off and on..
Built to drive..
So I go everywhere and drive the shit out of it..
Have to agree with @cbarge here.
Cars are a money pit but if we build them to enjoy and use then the investment is well worth the efforts.
Resale is not a good thing to think about otherwise none of us would do this.
It's all about enjoying the results of what we have invested our time in by driving the shit out of it as Leaburn says
If I bought my convertible to speculate I'm already in the hole. Best I get it driveable. It's costing me though...
Obviously, we have the somewhat-appreciating, somewhat-"easy to buy" C-bodies because we like them for what they are. Almost all of them have or will need some work done to them, one way or another. "Labors of Love" to make them what they used to be, usually.
ANY car can become a money pit, even new ones. Some people have no problem taking a $45K new pickup and making it cost $75K by the time they are done . . . as long as the monthly payments can be tolerated, it seems. Lift kits, wheels/tires, front/rear bumper replacements, etc. Are THEY worrying about resale in a few years, or sooner? Obviously not. It's "what they feel they want/need" just to drive to the corner store for paper towels, or similar. BTAIM
One of my "rules of thumb" is "What does the car cost to buy", posed against its "ultimate value" as it's restored. IF that gap can support various operations in that process, over time AND prioritized as to usability and importance, then things can start to happen, incrementally. Seeking the best sources for things I'll need in the future--another cost/effectiveness judgment call. In other words, keeping the "bail out of it selling price" below reasonable market value. But also knowing that stopping/delaying work until it can be easily afforded in mind.
Luckily, most of what I have have been in the "economically viable" orientation for several years now. Which makes me feel better about getting them done, all of which I've had since they were "used cars" or the ONE car I bought new in '77. Plus a few others that were inherited.
Which ever way you justify what you do, an older very-nicely-restored car, built with the desire to drive/enjoy it for what it was designed for, will always be a better investment than many of the "upgraded" newer pickup trucks I see on the road in TX and other places . . . even the ones at stock ride height. For the confluence of the "Monster Truck" and "Hot Wheels" generations that can now afford vehicular toys. Everybody's building dreams for their enjoyment and building memories for themselves and their family members, one way or another.
No, you tell me. The notation can't be removed but thank you for pointing that out!
"restoration investment" I think that is called an "oxymoron!"
Once I file the bills and receipts for the Monaco I’ll never see them again.
And I have no interest in tabulating the $$$ put into the car.
Just make it drivable, clean it up to look like, say maybe a five year old car, and enjoy driving it.
When I was in my 20's with my first 68 NYer my father told me you cannot drive it and keep it mint. I'm more concerned about driving it and enjoying it with my kids.
If they’re restoring cars for $12,500 in 125 hours, even without parts and paint, I can see why they have such a long waiting list! Three guys on the car and it’s done in a week!
Would I rather put $30k into my T&C, or buy a new Toyota? Gee, let me think...
I could have paid off a house cash with the money I have spent on Polaras/Monacos alone...not to mention the 8 years of mopars I had before my first Fuselage.
It's just paper...and if you do what you are supposed to do...it will come back.