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Restoring a classic car to as-new condition is many motorists’ dream, but these rewarding and challenging projects can also be very expensive, especially if the vehicle you’re working on is particularly old or rare and working parts are hard to come by.
A cheaper option than full car restoration is to carry out a partial restoration, purchasing a car that’s already been worked on to some level, but in general the better condition the vehicle is in, the higher the asking price, with well maintained vintage cars often selling for high prices at auctions. On the other hand, buying a car in poor condition at a low price from a scrap yard or private sale could be a false economy if the cost of bringing it back up to roadworthy standard is prohibitively expensive.
There are many costs that need to be accounted for during restoration jobs, from sourcing critical components to buying the right paint and cleaning products. Many modern auto parts are incompatible with older models, even those made by the same manufacturer, which can make finding certain parts a headache. The internet has made this easier however, as owners can now purchase parts from all over the world.
There are fortunately ways to save money at every stage of car restoration, starting at the purchase of the vehicle itself. Browsing classified ads in dedicated publications and online should allow you to search by make, model and age, if you have a certain car in mind, and buying a relatively complete, rust-free car will save you money compared to buying one that’s only partially intact.
You will also need a suitably sized space to work on the car, which could require renting a space or building a garage on your home. While certain parts may need to be sourced specially, such as engines and transmission components, you could save on tyres and by speaking to your local service centre about compatible options. Also having fully comprehensive insurance that covers windscreen repair cost is a must when so much can be spent on a vintage car’s maintenance.
If you’re embarking on classic car restoration for the first time, it’s advised to consider what you hope to achieve from the project, as renovators who are hoping to make big money by restoring and selling a classic car often find themselves disillusioned, especially when this is broken down into the hours of work involved. Restoring a car is a labour of love, and working on a car you have genuine passion for or interest in will generally lead to greater satisfaction.
Bruce Giles writes for a digital marketing agency. This article has been commissioned by a client of said agency. This article is not designed to promote, but should be considered professional content.
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