Buy a project or no?
 

One of my patients restores old cars as a hobby. Every time he comes in we end up talking about cars. He has 4 or 5 at this point I think. Anyhow, I had mentioned to him in the past that if I were to restore an old American car I would do a 55-57 Chevy. I had a 57 Chevy back in high school and have always loved those cars.

Come in today and find a note from him in my mailbox. He apparently knows a guy who has a 1955 2 door sedan that he is looking to sell. I called the guy, he said the car is a serious project. The PO stripped it down to restore it and then lost interest. The car currently has the interior out of it, motor out. The motor is apparently a correct V8 for 1955 but the owner has no idea if it is the original motor or not. He said the car needs floorpans, which isn't unusual. All the interior pieces and body trim are with the car, he has new front and rear glass for it and I believe he said new bumpers as well. He is asking $3800 for the whole lot.

I called my wife and of course she is pretty skeptical. I'm thinking about going out to look at the thing this weekend and see just how rusty it is. I have always wanted to restore a car, even though I know it will be a huge project. Originally I was thinking of sticking with Porsche and doing some sort of RSR type car, but it is beginning to look like I could completely restore an American car for much less than doing a backdate or something on a Porsche.

Anyone have any thoughts? Want to talk me out of or into this?

Here's a pic just to show what the car COULD look like :)

http://forums.pelicanparts.com/uploa...1163605611.jpg

Go for it. It's a steal at that price if everythings there.

K.T.
1973 911 E 2.4 MFI
1983 911 SC
1965 Devin "D" - 1967 912 Power Plant

$3800 seems high for a basket-case to me.

The price is good IF the car isn't a rust bucket. If all it needs is floorboards, I could have those put in (I have no clue how to weld) for not too much money. After that, it would be an exercise in the usual restoration stuff.

Fully restored 55 Belair sedans go for upwards of $30k so I would have $25k of room or so before I was at the break even point. Again, if it isn't a rust bucket. If there is a lot of rust on it then you walk away.

Looks like a fun project!

Sounds like it's in about the same shape that my 1956 karmann ghia was in. These can be the most frustrating types of projects to take on because it can be hard to tell if you have everything.

I've restored a few cars, and while it can be rewarding, it can also be frustrating.

There are some things that you need to make sure you will have available before you commit.

• time - lots of it
• space - a dismembered car takes up 4x the room of an assembled one
• money - lots of it. While the aquisition price of the project is fundamentally irrelevant in the Big Picture, most sellers want to price-in the value of the finished product.

Using my '56 ghia as an example

• I paid $1800 for a shell with a lot of parts in boxes
• new interior is $2500
• my chrome bill will be north of $2k
• all new seals and knick-nacks were around $1k.
• Paint & body materials (finish paint, primer, sandpaper, body filler, etc) were over $1500.
• I'm doing all the work myself, with the exception of stitching together the interior bits.
• I've spent over $2k on various bits that were incorrect or outright missing
• the car came with some extra parts, which I've sold for a grandiose sum of ~$50.
• I still need to get odds and ends like tires ($500)
• I still need to go through the motor ($500-$1k)
• Misc running gear like brakes, clutch, muffler, etc has run ~$1500
• I have probably 300 hours into the car since May, and I'm single with no kids.
• The misc parts removed from the car currently consume 8 of those stackable storage bins - and that's just the stuff that actually fits in the bins. Some of the other parts are stashed in my double cab pickup.

Yeah, Thom, that's my concern. I know at some point you just have to jump in and do it, but I have also read all the stories that say you should not take on a basket case type project. If I did buy the car, it would sit in my garage (assuming it would fit in there) for the rest of the year until we move up to Dallas. At that point we are planning on getting a house with a 3 car garage so I would have a little more room. Time is the other issue, my job is likely going to take a lot of time and my kids are getting to the age where they will start doing sports and other activities.

My big fear in doing something like this is that I would be getting in way over my head since I really have not done any restoration work or serious automotive work...ever. I bought my Porsche as a running fun car to learn a few things on with the idea of maybe getting into a restoration or updating the Porsche later.

I almost bought a 55 Chevy project when I was looking for cars (before I bought the Porsche) and backed out at the last minute because I just felt like it was way too much to bite off.

The thing that gets me is I have the wild visions of what the car COULD look like and wonder if I could actually take something and restore it like that. It's a very tempting vision, I just question whether I have the skills, desire and time to make it a reality. Part of me says walk away and be smart, the other part says I'll never know unless I try.

Here's another project I was eyeing over the last month or so. I told my wife if this car was still for sale after we moved this summer I might think about buying it. It looks like the owner was trying to do the same project I had in mind, something like a 74 RS clone (I think one was featured in Excellence a couple months ago). Much of the bodywork has already been done.

My problem with Porsche projects is how amazingly expensive the parts are!! Yeesh.

http://forums.pelicanparts.com/porsche-cars-sale/310937-73-rsr-clone-project-cash-trade.html

I would respectfully suggest that you get a running, driving, stopping project car and work up from there.

+1 to all that's been said. Rust sucks. Unless you want to spend literally hundreds of hours cutting and grinding and dealing with corrosion issues, get a tub that's in good condition and go from there.

Heh, that's what my 84 Targa was supposed to be...but the darn thing just keeps running! I've done a grand total of replacing the hood shocks, changing the oil and....driving.

At some point I am going to redo the shifter bushings and see if that helps my tranny out a little. After that I have some plans to do a respray of the car, lower it, possibly add a duck, repaint the targa bar, redo the brakes, new shocks, perhaps change out the interior to black depending on respray colors. Yada, yada, yada...

Your point is well taken and is exactly what the intelligent side of my brain says. The emotional side says "It's only $3800 bucks...think of what it COULD be!!"

In the end, the intelligent side usually wins out...

Rick

If you are up to it, have a decent place to work and a high tolerance for physical and emotional pain, I would say go for it. I have reached a point in life where the spirit is still willing, but.....

Just remember; Don't look at it as an investment. It is a hobby, plain and simple. I would also do a bit of research, even simple stuff like Hemming's and a tour of local "recyclers" to get an idea of parts availability and cost. OUt of town stuff...Look up Lem's. They are very helpful and their prices are reasonable.

SAVE THE 55. I like 55's better then 57's.

I have done three. My son just brought home a rust free basket case 69 chevelle to do.


I had to walk away. I did not want to get involved in another one, so I am just offering a little guidance here and there.


It takes time, time, time, t i m e, and money.


Did I say lots of time that you spend in the garage, on the phone, or out looking for parts, and all this time is away from your family.

Nathan's Dad,
Though fully restored exquisite 55 two-doors bring 30K, very nice "20-footers" change hands for about half that. 15-20 will buy you a REALLY nice driver.

You cannot possibly get this car into "really nice driver" shape for 15K including the car given that you do not weld and also probably also do not paint/do body work or interior resto.

What I'm saying here is that if you could do ALL the labor yourself (and count your work as ZERO) then add up the missing parts, chrome etc., maybe, just maybe, you could do 15K. Without that ability, you have no chance. Sorry.

Buy a driver. Spend 20K if you have to. You will be money ahead. Just like on a P-car project.

angela

Not to be a downer but the odds are WAY against you on finishing a project like that. Statistically Thom is definitely an outlier.

My father once told me: "Always buy someone else's dream." Smart man, my father.

I'd go for it if all of the pieces are there (mostly all), and it passes a rust inspection. I had a '56 & a '57 & would say they are mostly easier to work on than my little Porsche. They are very simple cars & you can source out a lot of the running gear stuff. Having said that, you should listen to the advise above and remember every project takes much more time, money, and space than you ever think in the beginning. If you have the time, money, space, and good raport with the wife, it might work out OK.

55 belaire is my favorite old Chevy.

I know nothing about restoring cars but I agree with Thom and others here, if you get something that runs and rolls you are (I have been) much more motivated to work on it.

I had a 66 Rambler that was great fun and super easy to work on. I am now working on my 84 944 (that after three years has started leaking water and overheating).:(

Its a lot of work from your description. If I was close I would be happy to help. If you do buy it make sure it has all the trim and chrome parts as replacing them will cost a fortune. They are restoring a 54 olds at the shop right now.

DO IT!!
I have been restoring cars for about 16 years now, and the first car I ever restored was a '55 Ford Fairlane with the original 292 Y-block motor and Fordomatic transmission. I bought the car for $1900, it needed EVERYTHING done to it:
Interior, body work, paint, motor rebuild, tranny rebuild, brakes, suspension. The only good thing about it was all the glass was intact.

Keep in mind, I did all the work myself, over the time span of a year and a half. When all was said and done the receipts added upto $3250. So in the long run the car cost me $5150 and a WHOLE LOT OF TIME! Not too bad for a car that goes for $18-25K

http://forums.pelicanparts.com/uploa...1163642547.jpg

Good luck!!
-Nick

It definitely can be done, but you have to be willing to really commit.

Here's a '55 Westfalia I did a few years ago.

http://forums.pelicanparts.com/uploa...1163654764.jpg

And a 1960 DD panel I did in 2000 http://forums.pelicanparts.com/uploa...1163655098.jpg

And the 1956 ghia I'm working on right now http://forums.pelicanparts.com/uploa...1163655444.jpg

U need cubic $$$$ Bills, time and patience. It can be fun, fustrating and bank account draining...I'd say your gona need at least 20K to do the job of restoring the car above the $3800.

Go take a look and see..it doesn't cost nothin to look. If the car has alot of rust problems or body work needed pass. Check the Serial on the block and see if it matchs the Vin. Check for the trim parts, gauges etc for completeness of the car. I would also have the $3800 in 100s in your pocket and see if U wana part with them for that car. I once looked at a 68 Hemi Charger a guy wanted 9K for, I couldn't part with the 100's for the car.

Right now I got a friend that bought a 32 5 Window Ford Coupe about 6 months ago...Steel Body...car was running strong...for $28,500 well now he's into it for over 50K and not done...(hes bin able to get alot of stuff done reasonable).

Right now 50s and 60s car are going for the big BUX, so finding a deal is not easy. Five or six years ago it was a different story. So finding a resto project that someone got tired of is probably the best way of finding a deal.

I would like to do an early 911 project like this some day: buy a basket case and completely strip it down

+1

I have restored two cars in my life (I'm 26 years old) and have worked on many, many more.
-73 VW std. Beetle, bought as complete basket case, lots of rust, complete frame-off resto and my first paint job, drove it throughout college.
-1938 Buick touring sedan, bought it in pieces but with very solid body and about 95% of the parts accounted for, wrapping up right now to drive to my wedding in May. Please don't ask me how much $$ I spent at the chromer's :eek:

My sage advice to you and every other person who is considering getting into car restoration is this:

Decide, ahead of time, what car you want to restore. Then wait for the right one to show up... in other words, if you take on aproject just because it presents itself, you might not have the same staying power that you would with a "dream car."

Buy the absolute best example you can afford within reason. Just like there is no such thing as a cheap Porsche....

Go into it as a hobby....you're almost always going to come out upside down when restoring a car. Just as in project management, take your estimate for cost and time and multiply both by pi.