Many of us must ask ourselves whenever we go along to look at a wreck of a classic car that we have seen advertised for sale if it is really going to be worth our while financially to go through the restoration project. What probably goes through a lot of enthusiasts’ minds is whether it would be better if we could just buy the car in a fully restored state.
However, it is so difficult to assess the financial viability of restoring the vehicle in comparison with coming back in two years time to purchase the car once it has been restored by someone else. So much can happen once you have handed over the cash to buy the classic car of your dreams that requires a huge amount of work doing to it.
Once you get the car home, in the garage and have a thorough look at it you may find a problem that you missed when carrying out your supposed detailed inspection before handing over the money. Of course, many people buying a classic car to restore almost expect that to be the case.
In reality, the restoration budget is often exceeded so if you accept this may happen it is not going to come as a surprise. Just make sure that you have the extra funds available!
Having said all this, for many people, buying a classic car to restore is not really about taking into consideration whether it would have been cheaper in the long run to have just bought the car once it has been fully restored to its former glory. It is the pleasure that is derived from carrying out the restoration work with many long hours devoted to a wonderful hobby. It is the knowledge, when showing off your classic car at a local show, that it is you that has brought the vehicle back almost from the brink of extinction.