Do you own a classic car, or do you want to buy one and restore it? Is it still worth it? What are the things you have to consider? Restoring classic cars is not always worth it. Many people restore cars because of sentimentality and not because of practicality. Unless you have money to spare, restoring classic cars is all about improving its value and not about practicality alone.
What Do You Want to Do With the Car?
Do you want to sell it eventually or leave it as an inheritance or turn it into a hobby? Are you going to join car shows? Are you going to compete in tournaments? Restoring classic cars isn’t a walk in the park. It requires money, time, and commitment. The demands of car competitions, car shows, and the market are different, too.
For example, shows and competitions will require that the car keeps its original color and style. You need to keep it in its most original state to improve and retain its value. Shows want cars that remain as true as possible to the original look. But if you don’t want to join competitions, changing a car’s looks is entirely up to you.
When Should You Repaint the Car?
Sometimes, a classic car needs a simple repaint instead of a full restoration. If that is the case, the easiest way to get the paint you want is by going to an auto paint company with a dedicated auto paint booth. The booth is necessary because it has the necessary clean environment to avoid contaminants in the paint. It also ensures that the fumes from the paint are contained in the booth. This will help keep the employees of the paint shop safe.
Generally, repainting a classic car will not decrease its value. It can even improve it. However, you need to choose the color because that will have an impact on the value of the car. Classic cars go well with classic colors. While it’s okay to experiment with more modern colorways, these might hurt the value of a restored car.
But when does a repaint jobdecreases the car’s value exactly? If the classic car is in great condition, you should rethink your choice to repaint it. The value of a classic car sometimes depends on the color that it came in from the factory. Many collectors will offer a great price for cars that managed to maintain their original colors.
How Rare Is Your Car?
Just how rare is this classic car that you want to restore? The five rarest cars in the world are the Rolls Royce 15 HP, Porsche 916, 1969/1970 Dodge Hemi Coronet R/T Convertible, 1921 Helica de Leyat, and Talbot Lago Grand Sport. There are also other rare cars such as the Aston Martin DBR1 and Ferrari F50 GT. It’s worth looking at the actual value of your car in the market right now before you decide to restore it.
Remember that when it comes to the rarity of the car, the rarer it is, the higher its value. But also, potential buyers and car show judges will want to see the car in its original color rather than a more modern repaint. Extensive bodywork on a classic car may also decrease its value.
How Much Can You Spend?
Restoring cars is not a cheap hobby or passion. Even if your car isn’t rare or expensive, restoring old cars in itself is an expensive hobby. You have to find a car mechanic that specializes in dated engines and bodywork. You also need to be careful with the method used to repaint the car.
This kind of hobby often requires huge expenses. Are you sure you are up for it? Simply repainting a classic car can cost a minimum of $10,000 because the repainting of a rare or classic car involves special methods and chemicals. In some cases, a restorer may even want to do everything by hand because the manual labor is part of the process of bringing back the car to its former glory.
Before you go on a full restoration mode, you need to consider if it is still worth it. If you are going to spend tens of thousands of dollars on the car, it must still be in a good state. That makes the job of restoring it easier. If the car needs to undergo an overhaul, it might not retain its value. Besides, what’s the point of restoring a classic car if 90% of it is replacement parts?