With original classic cars becoming a rarity, their price is beyond the reach of an average collector. This has forced many enthusiasts to resort to classic car restoration as a way of owning their dream vehicle.
However, before you can stand back and admire your beautiful classic, the journey will involve a great deal of hard work. However, you will not only be able to enjoy your sweet ride but also turn a handsome profit upon selling the car.
Car Restoration: The Basics
If you have never restored an old car, you will need to learn more about the time it takes, the amount of money required, the auto body parts to buy, the best cars for restoration and the necessary equipment. This knowledge will help you to avoid the costly mistakes that most beginners make.
Time
Lack of adequate time in your hands may affect your project by undermining the quality of work. If you do not allocate enough time for the project, it may fail from the start or take too long. This will deny you the chance to enjoy the whole experience of restoration.
While you should not let the work affect your family or work life, it is important to concentrate fully on this project.
Money
Restoration of a classic car is a huge commitment. On average, it will cost you between $19,000 and $50,000 to buy the car of your choice, the necessary tools and materials as well as carry out the work.
In the end, the cost of your project will depend on the car you settle on and the amount of work required for restoring it. While it is advisable to invest your energy and money in a car that excites you, it is equally important to budget for the undertaking.
Auto body parts
Replacement parts will play an important role in determining the performance and longevity of your car. You should find out the parts you will need when restoring the classic car. This will also help you to determine the availability of replacement parts for the car in case you need them in future.
You should establish where to buy the auto parts from at affordable prices. As a beginner, you should consider buying genuine parts from trusted sources.
The Best Cars for Restoration
Your choice of a classic car will not only affect the buying price but will also influence the cost of operating and maintaining your dream car. When you are looking to sell the car, your choice will also affect the profits you realize.
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This is why beginners should consider going for the easiest cars to restore. Some of the best cars for restoration include Ferrari Dino 246 GT, Mini Cooper 998, Porsche 911 SC, Ford Mustang 1964-66 and Lotus Elan.
Tools and equipment
Buying the requisite tools and equipment will help you to do the work faster and to your satisfaction. Invest in tools, equipment, and materials that will let you achieve a high standard of renovation.
Some of the simple tools include screwdrivers, pliers, floor jack and electrical tools. You may also need an engine crane, stand grinder, and jack stand.
The average age of customers who look for classic car restoration services is 30 to 65 years. The customers are predominantly males with an average annual income of $60,000. In the coming years, the industry expects to record a growth rate of 57%.