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Scottwattz

How many dollars do you think it took to get your 02' right?

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Kinda a odd ball question because all the 02's out there are in such different states, but i'm curious what your beginning budget was and what it ended up being. The blood sweat and tears are priceless I know. I'm just getting knee deep in my resto and trying desperately not to rip it all the way down and go ground up. I want to enjoy this sweet car as I rebuild but the picture is becoming more and more clear that she may need way more attention than I previously thought! so far here is what i need to do vs what i want to do!

 

needs

-floor pans then carpet  $500

-blower motor $100

-seat belts $100

-suspension (this falls under both but does have a front seized strut) $1000

-motor mounts  $100

-oil leak fix...oil pan gasket? 

-sunroof rebuild

-new instrument cluster since i fried it trying new lights

-paint    $???

 

wants

 

front air dam and new bumpers $1000

stage one racing suspension  

aftermarket turbo  $1000-2000 (if end up rebuilding motor)

a awesome paint job! (gonna go back to the original grey)

wheels and tires  $1500

 

This is a off the cuff price for what i need and was thinking in the 5-k range without paint? 

 

I am doing the work myself except for paint. Take it easy on me fellas for i am at work multi tasking between work and play!

Again, I am curious on your first budget and perhaps any pointers to start with!

 

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Scott,

I've been going through the same for about the last 18 months, and like remodeling a house, come up with your budget and add contingency of 20% plus.

I would recommend working from the inside out and focus on the engine, driveline and suspension, so you can drive and enjoy.  You might get into the motor and find you need to throw more at it, like a new oil pump $$$$.  Worry about the comfort and cosmetics later. You might find your "wants" may change after driving it awhile.

Steve

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"Right" is an interesting term with a rather broad range of meanings. Assuming you mean "finished to a personally satisfactory standard," I'd suggest you take your time and money estimates, whatever they are, and double them.

 

My car is not right, will never be right, and I don't care. I deal with whatever needs to be dealt with, and other stuff gets worked on when I feel like it. If I get it too right I'll never drive it. As to how much money I've thrown into it, well, those records are permanently sealed.

 

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+1 on Anders comments!

Definately try and over estimate.

Dont over restore it will become too precious.

Sort out mechanical and drive.

Bodywork is eye wateringly expensive!

Choose sensible upgrades where necessary i.e 5 speed if you use motorways, aircon if you hit hi temps in summer, H4’s if you drive at night a lot + drivings lamps.

Oem suspension rubbers transform the car, don’t lower to much it will become a pita if you city drive, eibach sports and Billie HD’s work well.

Make sure you brakes are good!!!

Have fun?

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+1 on Anders comments!
Definately try and over estimate.
Dont over restore it will become too precious.
Sort out mechanical and drive.
Bodywork is eye wateringly expensive!
Choose sensible upgrades where necessary i.e 5 speed if you use motorways, aircon if you hit hi temps in summer, H4’s if you drive at night a lot + drivings lamps.
Oem suspension rubbers transform the car, don’t lower to much it will become a pita if you city drive, eibach sports and Billie HD’s work well.
Make sure you brakes are good!!!
Have fun[emoji41]

I am now at 2x my original estimate.


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Think of it as a hobby, don't keep track of the total dollars spent, it will ruin the whole experience. It also comes in handy when your wife asks "How much have you spent on that thing?", you can honestly answer, I don't know. Simply spend as much as you can afford without sacrificing food and shelter.

Greg

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I totalled my expenses up and then sealed that file away forever. Let's just say it was more than double what I ever thought I would be putting into her. But it was a fun process over 3 years and I have an enjoyable classic car which required much less capital outlay over the last 2 years.

Overall budget depends on what your goal for the car is. If you have a solid body then you have something to work with. Start with drive train, mechanical and safety needs, then performance upgrades, then cosmetics.

If you do all the prep work before painting your paint budget could work, but be prepared for sheet metal work once you start prepping for paint. These cars are now between 40 and 50 years old, so you will find corrosion and rust and that is the budget buster.

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11 minutes ago, kutzoh said:

Think of it as a hobby, don't keep track of the total dollars spent, it will ruin the whole experience. It also comes in handy when your wife asks "How much have you spent on that thing?", you can honestly answer, I don't know. Simply spend as much as you can afford without sacrificing food and shelter.

Greg

Well said. The average cost to operate a newer car is $0.60 / mile. I have driven 370k miles in 28 years. At a lower avg cost of say 0.30 / mile ( inflation, etc) we have $111,000! How much have I spent?  50k? 70k?  It's pretty well sorted now but will eventually have to re-visit body work and another engine down the road. Probably could sell it now for a solid 15k. Looks like a deal to me.....

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1 hour ago, Scottwattz said:

Kinda a odd ball question because all the 02's out there are in such different states, but i'm curious what your beginning budget was and what it ended up being. The blood sweat and tears are priceless I know. I'm just getting knee deep in my resto and trying desperately not to rip it all the way down and go ground up. I want to enjoy this sweet car as I rebuild but the picture is becoming more and more clear that she may need way more attention than I previously thought! so far here is what i need to do vs what i want to do!

 

needs

-floor pans then carpet  $500

-blower motor $100

-seat belts $100

-suspension (this falls under both but does have a front seized strut) $1000

-motor mounts  $100

-oil leak fix...oil pan gasket? 

-sunroof rebuild

-new instrument cluster since i fried it trying new lights

-paint    $???

 

wants

 

front air dam and new bumpers $1000

stage one racing suspension  

aftermarket turbo  $1000-2000 (if end up rebuilding motor)

a awesome paint job! (gonna go back to the original grey)

wheels and tires  $1500

 

This is a off the cuff price for what i need and was thinking in the 5-k range without paint? 

 

I am doing the work myself except for paint. Take it easy on me fellas for i am at work multi tasking between work and play!

Again, I am curious on your first budget and perhaps any pointers to start with!

 

Double the floor pan and carpet estimate

Double your seat belt estimate

Double plus $500 your suspension estimate

Good luck finding your oil leak. Gaskets are cheap

Paint is $5-$10k easy. Once you strip everything off the car for paint, you open up an entire category of replacement parts; seals, hardware etc. None of those are cheap.

No idea on instrument cluster but they can't be cheap.

 

Double your air dam and bumper estimate

 

FYI, I'm at almost exactly double my original budgeted estimate and I'm not quite finished. I think doubling your guessimate is about right.

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The interesting aspect to these cars are you can build them in stages and change them as you go.. I wouldn’t cheap out on body and paint. It is more difficult to correct later when it is all together.. everything else can be modified and changed fairly easily. Motors, trans, diffs, suspension and interior/trim.
All is subject to change, as you progress with your project. (Except the bodywork).
I have no idea what I will spend on my project. All I know is the bodywork won’t be the cheapest part.
IMHO
My $.02

Unless it’s a race car, then the BIG money is spent on everything else but the body and interior.
Matt



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(edited)

Hey I stopped counting at $20 grand ?

 

But one of my 2019 projects is to dust off my 6” stack of receipts and put together a big spreadsheet for the real number

 

But just about everything on my car is redone, refurb’d or replaced... and I was a bit reckless  at times buying items from expensive places like Max

 

But I think she is pretty and 20k over 10 years is only about $180 month!!

 

And yes 100% what Greg said!! It was my hobby and therapy for all those years and really miss “heading to the garage”...

 

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Edited by worzella
Xx
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All of the comments here are good, in any other endeavour I would never suggest not having a budget / programme and managing to it but in this case I don’t. The difference here, for me, is that the journey is more important than the destination and my commitment to the car is total. I am not going to decide something is too expensive to repair and therefore sell the car. If it needs doing, then I do it. There is no (perfectly rational) cost benefit analysis against what the car is worth. It’s also based on the fact that I have done all of the work on my car with a very few exceptions, so the hobby aspect has been ‘rich’ beyond just spending cash. A lot of the most rewarding work costs next to nothing, it’s taking a part off, giving it a good clean and examination and then maybe a shot of paint and adjustment to restore it to a new (or better than new) state. 

 

Admittedly I am aware of what I can currently afford and what may be out of my reach without some saving / budgeting so things happen in their own time and if I need to do things twice (say the cheap way and the expensive way afterwards) then I don’t mourn the money that I have already spent and the effort which would then be wasted.  It’s all part of the journey. 

 

Looking at your budgets OP, they look a bit low in places. In particular the paint and engine ‘turbo’ costs look low. You would be lucky to get the materials only for those sums. 

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(edited)

My girlfriend thinks I'm about $5,000 invested right now. ?
 

I hope when I die they don't sell my cars for what I have said I invested in them....

Edited by MrAdams
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For my last project I looked for the most solid and dry roundie I could reasonably afford. I found an auto '73 that had sat for about 20-odd years so the paint was heavily oxidized and some of the aluminum trim had some oxidation also but it was straight, solid and very original. I paid 7K for it.

Over the next three years I worked from the inside out and probably spent close to $10,000 just going through the suspension, brakes, tires and wheels, exhaust, the ignition system, upgrading the lights, installing Recaros (but didn't reupholster them), etc, etc.

When I sold it, it was a very reliable and well-sorted daily driver. It still needed paint, some trim restored, a new carpet, the Recaros reupholstered and of course a transmission swap if someone wanted to install a 5-speed. All of that could easily cost an additional 10K, so if I had kept it I would have had about 30k into it including the initial purchase price.

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On the somewhat other end of the spectrum, I just purchased a largely restored '74 tii w/sunroof for 20K that had been parked in dry storage about 18 years ago. Even though the paint, bodywork and trim had been taken care of, the engine rebuilt, a 5-speed installed, new gas tank, etc, I've already put about $3,000 into it just to recommission it and get it driving again.

 

After that it will largely just need cosmetic details and corrections so once It's all said and done I'll probably have about 27K into it including the purchase price but it will then be a 40K+ car.

 

So, even largely finished cars still need attention and work that can add up more quickly than you think.

 

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