Originally Posted by 65tripleblack

I don't care how much cheaper a "done" car is than a project car. I'd never buy a "done" car if I was going to drive it because no matter how good it looks, you won't know how good the mechanicals are until they start to break.

Originally Posted by GTOguy

You guys have covered it. What Donny said about the 'allure' of a fixer is dead-on...cars that appear to be the real deal, and all there, but literally everything on the car is in need of attention to bring it to even 'driver' status. These cars, along with the hype on television lately where cars are restored in a single week out of boxes that are delivered has the general public convinced that buying a cheap 'fixer' and whipping it into shape is an easy task for just about anybody. I tried to get a fixer '62 Grand Prix about 5 years ago...the car was in a lot where it had been for 30 years, but was not rusty or missing any parts. It needed a complete 30k+ refurbish. I offered $700, the owner 'knew it was worth at least 5 grand'. The car is still there, 5 more years worse for wear, melting into the ground. As a mechanic, I try to buy cars that are in nice enough shape for my taste (I like 'driver' or 'survivor' cars compared to restored ones) that I can do mehcanical repair to to get operational. My '61 I bought last year was such a car. A number 4 car that hadn't run in decades brought to #3- shape in a month for under 2k and driven for the last 18 months and enjoyed. Needs paint, windshield rubber, speedo rebuild, etc., but the chrome is decent, the interior isn't pitted/corroded, and the old, old paint looks good from 10 feet away! The standard and quality of the car are what cost cubic dollars: if you want an NCRS restored car at the end of the day, buy one that already is!

Originally Posted by Donny Brass

I could not wrap my head around the whole "I wanna by your barn find, and I don't mind that everytime you slam the door the rust pile underneath gets bigger."

Then it occurred to me, if you show up with a ne girlfriend and she is hot, the guy kinda stay away and show respect. However, if you show up with a really slutty girl, all the dudes come around figuring they have a shot at her.

The barn find is just a slutty girlfriend and everyone thinks they have a shot at fixing it up.

Originally Posted by jrm5657

OK, now you are teasing us. You must have got the deal of a lifetime to have a 67 coupe at this stage for $8K. You have got to post a picture of what it looked like when you started!

Originally Posted by slalomfiend

I wanted one this way so I could make sure the work was done right -

Originally Posted by 6850mike

Case in point

http://nashville.craigslist.org/cto/5898981685.html

Originally Posted by jv04

OK, I want to get ya'lls thoughts on this. I know what I think, what do ya'll think.

I think we all pretty much agree that we can buy a completed car for less money than it would cost to buy a project and compete the restoration.

That is usually the case. Yes, exceptions do occur, but generally that is a true statement.

Now, if we can buy a completed car for X amount of dollars, we "should" be able to buy a project car for X amount of dollars MINUS the cost to restore the car to the same level of a completed car.

I am not talking about buying a project car, and sending it to a shop to get completed. I am talking about a project car where the buyer does most / all of the work.

Makes sense, right.

Unfortunately, not much about this hobby makes sense.

I often wonder where project car sellers get their prices.

Perhaps they paid too much, or perhaps they have too much invested.

It seems to me that sellers of completed cars are generally more willing to accept a loss on a car than sellers of project cars.

An example (the cars are made up to protect the "whatever").

Lets say the completed car is a very nice driver quality (not quite top flight, but could be gotten the car to that level fairly easily).

Lets say the project car is a running and driving car that needs paint, interior, engine and trans cleaned up (but not rebuilt), and chassis cleaned up. All of the same parts that are on the completed car are also on the project car.

A nice driver quality (as described above) 1959 Corvette, 230hp, 4 speed, posi rear end, and red with black interior. Price is $65K.

The same car, as a project car (as described above) 1959 Corvette, 230hp, 4 speed, posi rear end, and red with black interior. Price is $45K.

The cost to get the project car to the level of the completed car SHOULD BE no more than $20K, right?

Doing the work yourself (or lets say most of the work except for paint and body), can anyone reasonably take the project car to a nice quality driver car for $20K?

Here are the things that you have to do to the project (assign your own cost to each item)

1. Clean and paint the chassis and suspension parts, replace soft parts.

2. Clean and paint engine and transmission, replace soft parts.

3. Restore interior components (dash, doors, seats, carpet, etc.)

4. Restore soft top components.

5. Prep body and paint body exterior and interior. Lets say this car has a no hit body and is already painted red, but needs a re-paint to get it to the next level.

Can items 1 - 5 be done for $20K, and completed to a nice driver car level for 20K?

Thoughts?

Originally Posted by SW Vette

Amen to that, brother.

I like to find a happy medium - a car that the previous owner has already poured all the major funds into and is mechanically solid, looks great, but just needs that final 5% to be fully sorted out. That's the sweet spot for me; I steer clear of the 5 year projects and the cars that already won a blue ribbon.