Restore or replace? When it comes to your car, for many people it’s a no-brainer.
As a society, we love our cars – and for most car owners, shelling out thousands of dollars on parts and labor to restore their favorite vehicle is done without hesitation. But is restoring a vehicle really worth it in the long run? In this post, we’ll break it all down – here’s a closer look at what you need to know about restoring a vehicle:
Is Restoring an Old Car Worth It?
There’s no real clear-cut answer to this question. It really depends on a variety of factors and how much money you’re willing and able to spend on restoration efforts. For instance, keep in mind that older vehicles and classic cars can cost up to 20 percent more to restore than a conventional automobile. Additionally, you should ask yourself the following during your decision-making process:
- What’s the overall condition of the vehicle?
- How many key parts do I need and how difficult are the parts to find?
- Does the powertrain need any significant work?
- To what quality do I expect the end project?
Cost of Parts
You should be paying particular attention to car parts when it comes to restoring any vehicle. For a classic car, for example, your total cost of parts alone could be upwards of $10,000 when you factor in the cost of the part itself, if it’s widely available and where you need to ship it in from. What’s more is that when you’re going to restore one particular part of the vehicle, you may notice a hidden problem with a part that you thought was otherwise just fine in that same area. These hidden costs can amount to several thousand more dollars in part costs – and it should go without saying that they’re more common on vehicles that are older. And keep in mind that part costs don’t even include the cost of labor.
Cost of Labor
It’s one thing to have all the parts you need on hand – it’s another thing to go about installing them in your car. If you’re Tim “the Toolman” Taylor from the classic Home Improvement sitcom and can restore the vehicle at your own pace by doing the labor yourself, that’s one thing. But if you need to rely on a mechanic to do it, it’s an added cost that you’ll need to account for. And when you consider that some mechanics charge more than $200 per hour for labor costs, these costs can certainly add up over time.
Think of it this way: If you spend $10,000 on parts and need tens of hours of labor at $200 per to get the vehicle restored, you’re looking at quite the bill. And then there’s the paint job to bring the restoration full circle.
How Much Does it Cost to Get a Classic Car Painted?
On the low end, a paint job on a classic car costs more than $2,000. On the high end, it can cost up to $10,000. The cost largely depends on the color of the paint, any trim that needs to be painted and any other bodywork. Learn more about the car paint process here.
Contact Us Today
How much does a car restoration cost? Not all vehicle restoration efforts are the same, so not all of them are going to cost the same. For a more accurate picture of what you can expect to spend on a vehicle restoration project, contact Wrecktify Collision today.