Here at Wally’s Speed Shop, we have a good idea of what it takes to make a car worth restoring. Every new project conversation starts with a prospective customer’s dream and the second to last question is “what do you think?” from the prospective customer.
Unfortunately, not all cars are worth the cost of restoration. Sure, people are sentimental about their great uncle’s old muscle car they were given, but do they have the financial and mental fortitude to see it through to the end?
Holding on to a small sentimental story or anecdote about the previous owner adds fuel to the exciting fire burning to build a bad ass shrine to the man, the myth and the legend that was the deceased family member.
After we discuss the detail of the dream and I tell them that I love the ideas, the final question is “what do you think it is going to cost?”
This is where it gets difficult and you as the customer must face the fact that this is expensive and it takes a long time. If you are reading this you probably have a number in your head around $50k because in my experience this is what most people think.
The truth is that to have a quality build that is reliable and worth owning, our builds start at $160k and can go well over $300k. “That’s not worth it!” you think to yourself. “My uncle would roll over in his grave if I spent that much.”
You’re right, but to him it was just an old car and to you it is a shrine, and he didn’t take care of it. So now you have to pay for all the cool parts, modern fuel injected engine, custom interior, custom paint, loud exhaust and so on.
The problem is that restoring a vehicle is way more labor intensive then most people think. Our average build is 35% parts and 65% labor so with some quick math at $115/hour you quickly realize that it takes around 900 hours of labor on a $160k build.
That means it would take you a lifetime of nights and weekends in your garage to complete the dream build on your great uncle’s car that you rode in once as a toddler.
So, is it worth it?
Only you can decide that.
You will rarely get more money out of an American classic or muscle car than it cost to build. What you get is smiles per gallon. This metric is measured by the thumbs up of those that admire your willingness to see a project through to the end or giving the next generation their first taste of automobilia.
The question you need to ask yourself is: Are you ready to be a custodian of American automotive history? Answer this question and you might decide that it is WORTH IT.
-Wally