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How do you fund your restoration?

Roadrunner_Freak

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Hey guys this may be a foolish question to some but I've been curious how so many collectors have great cars that they restored themselves or had them restored. Do you get loans? Do you just buy parts here and there, rob Peter to pay Paul, or what? I'm getting a little impatient and not sure where to begin on my project but I'd like to make it road worthy perfect and not trailer queen perfect. My question is how do you guys do it without breaking the bank? Any suggestion will help. Thanks guys
 
You guys pretty much answered my question...lol. I was thinking that was a pretty stupid question to ask but I was like what the hell. Maybe you guys can answer this. Where did you start on first on your car?
 
Four disc brakes were the first thing done on mine, safety first.
 
I think the first step is removing the word "perfect" from your vocabulary. :) Perfect = $$$$, which doubly sucks in regards to cars that rarely, if ever, left the production line perfect.

As Richard Rawlings famously said... "you make your money on a car when you buy it, not when you sell it." Truer words were never spoken, and they apply to parts as well. Ebay, Craigslist, junkyards, and forums like this are your friends. Use them wisely. But keep in mind they can royally screw you if you're foolish. If there's someone selling a part for $300, there's someone else selling it for $200, and probably someone else trying to get rid of one for $29. Use your resources, take your time, and wait for the best deal. I've known way too many fools who've paid top dollar for everything on their car and realize too late they've dropped $75k into a car worth $25k, and they only realize this when they decide they've had enough and try to sell their car to get their money back.

Lastly, I think anyone who restores a car these days needs their grey matter checked anyway. :) It was one thing when the only way to get into the hobby was to buy a POS parts car and restore it because even drivers were priced ridiculously high, but these days the owners of all those ridiculously high cars are selling them off in droves and it's much cheaper to buy a good driver than to try to restore a POS. If I were you, I would find a sucker to buy whatever you have, save up some extra money, and buy that nice $25k car that some fool dropped the $75k into. You'll save a lot of time, money, and effort.
 
Hey guys this may be a foolish question to some but I've been curious how so many collectors have great cars that they restored themselves or had them restored. Do you get loans? Do you just buy parts here and there, rob Peter to pay Paul, or what? I'm getting a little impatient and not sure where to begin on my project but I'd like to make it road worthy perfect and not trailer queen perfect. My question is how do you guys do it without breaking the bank? Any suggestion will help. Thanks guys
Question comes up every so often. The simple answer is do you have income above and beyond your bills and obligations to afford you a hobby car? Some people are into boats, whatever it is,do you have expendable income. Do you have a excellent salary.do you have young children were you need to save for there education,do you provide for your family,all these are the questions that need to be considered.
I waited over 30 years before i got back into cars and even then it was on a tight budget. Now I'm retired and although i don't have the exact car id want at least i have something and to answer your question i fund my hobby car by still going out and working a part time gig. Im finally at the point in life that although i worked two jobs,countless hours of overtime,i now can direct some of that part time money into my car and at 64 after a life time of busting butt i think i deserve it
 
My question is how do you guys do it without breaking the bank? Any suggestion will help. Thanks guys

I'm only speaking on my behalf...

The quickest way I was able to afford this hobby is by way of divorce. During marriage and kids my priorities were far different than after marriage. The day after separation the car came out of storage, since now I could afford it.
 
I did a little bit at a time, the restoration took me about 4 years and I did as much as was in my abilities to do and the rest I hired out. Mostly just the paint and body like most. I wouldn't say I went cheap either, I left no part unrestored to some degree but I also don't have the best of the best. I'm educated and make decent money but I wouldn't say you can't do it if you have kids, I have one and the car has created a ton of memories for us as a family.
 
I've spent 45 years buying, selling, trading, and collecting parts and cars. I'm currently using my surplus stuff to finance my projects. Getting older, and thinning out the collection.
 
I've spent 45 years buying, selling, trading, and collecting parts and cars. I'm currently using my surplus stuff to finance my projects. Getting older, and thinning out the collection.
I've done pretty much the same thing over the years only now I'm selling off stuff to help support myself in my grand old age after my kids pretty much sucked my bank account dry.....
 
Again you can enjoy whatever your hobbies are if you have family and have the income. Everybody's priorities differ and i guess its a personal decision. A personal story comes to mind that i'll share. About twenty four or so years ago i had a job after work that went from early march till early august. I worked seven days a week on that job,usually four hours after work and twelve a day on weekends. Every thursday i got a check and it went straight into the bank. By sept of that year i had a nice savings just from that one P/T gig. My kids and wife never had any kind of special vacation so i took the entire amount went to a travel agent and booked a ten day trip to Disney. We stayed at the Grand Floridian Hotel and later went to Sea World and then to Coco Co beach were we strayed at the Hilton and went to Kennedy Space Center. I blew through close to ten large but we had some great memories and that was one of my best times together as a family
Now i suppose i could have scaled way back and spent half and used the other half for me but you do what you need to do in life. Later on much PT money went to help support one kid through Graduate school. The payback was a few vacations with her and her family were i never had to reach in my pocket for money. Including ten days in Hawaii.
In all life hasn't been so bad and after all of this i feel no guilt when i spend money on my 69 sport sat. Now were is that car catalog LOL.
 
Like many others, I started at a young age (15), been collecting cars and parts for 30 years. Just recently found the car I've always wanted, sold off all my junk to purchase and finish car. Now I'm poor again.
 
I'm just a peeon compared to most of these guys around this site and could never afford a full rotisserie resto or a blown 572 hemi, but I never took from my families needs to sastisfy mine. So what I did to fund my fix was take what I knew best and try to optimize it, I was an industrial electrician/ controls tech and knew the industry well. I know what tools cost so I started hitting pawn shops, swap meets, garge sales ect looking to find high end diagnostic type tools that had sat on their shelfs for a while and would build a rapport with them, get it cheap and flip it in eBay or Craigslist. This is the only way I can afford it....As I got a little more knowledgeable regarding cars, I've found that I can do the same thing with that knowledge... Depending on the investment vs demand I can bring in an extra $200-500 a month depending how hard I push... A couple of weeks ago for example I picked up a 67 camaro bench seat that is in original usable condition for $100, the ones I have found(2), are any where from $700-1000... The guy had a rust /dent free fender sitting in a garbage can & when I asked about it He started he wanted all new sheet metal so he was throwing it away, needless to say I gladly removed it and two headlight buckets as well for free. I will be going to a huge swap meet in a couple of weeks and and am hoping to make some change off a $100 investment...it does take some time comitment to do this..and a feel for what's the hot ticket item...good luck!
 
I planned accordingly[actually someone else forced my future while I was young] for my 2nd future. No kids, so I can have at it. I married a great woman, and we do things and have things. Eventually, we'll sell everything off.... and she'll probably outlive me. In the meantime, there is no guaranty for tomorrow, so we live for lots of today's.

Oh, we have 4 fuzzy kids who are very spoiled.
 
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I saved for two years to buy my current hulk. Now that I'm adding up what it will cost to make it how I want it, I'm starting to consider selling it (to some "sucker"! I loved that comment:D) and buying a more "done" car. We will see.
 
Sorry about the crickets, I couldn't help myself.

I've always worked on cars and dreamed of having a nostalgic mopar. Never had much money but about ten years ago I received a sum amount and decided to invest it into a car.
First thing on my list, it had to be rust free so I didn't have any major bodywork. If it needs paint, interior, or mechanical work. that would be ok.
Second on my list was rarity. It's going to increase in value so I'll always be able to get my money back out of it.
I found what I was looking for and over the years I've been buying a little here and there. If I saw a tail light or a piece of trim that was better than what I had, I'd buy it. Swap meets, ebay, local Craig's list, ect.
Now I'm in the process of building the engine for it. I'm removing the original one and storing it away. It's a matter of saving, trading or swapping in order to get there. I'm working towards getting it mechanically sound first then I'll worry about the paint last.
If money is no option, than I would buy one that is already done and enjoy. It's been ten years for me and I'm about halfway there.

Good luck on your RR!
 
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