Is Restoring a Car Worth it?  

Restore or replace? When it comes to a classic automobile that you might have a deep attachment to, it always makes sense to explore its restoration before its replacement.

But is restoring a car worth it? In this post, we’ll break down some of the key considerations to weigh when making this decision. We’ll also break down the pros and cons of vehicle restoration. Here’s a look:

Whether or not you restore your vehicle or look for a new one boils down to a few key questions you need to ask yourself. For instance:

• What’s the vehicle’s current condition? If it’s in poor condition, it could be easier to purchase a new vehicle or select a less expensive classic car to restore. Other factors to weigh include the cost of parts and materials that are necessary to bring the vehicle back from its pre-loss condition.
• What are your intentions with the vehicle? If you don’t mind a good pet project and have plans for the vehicle after it’s fully restored, then there are some things that aren’t worth putting a price tag on.
• Are you emotionally attached to the vehicle? Some gearheads just can’t bear giving up their classic vehicles, no matter how much time, effort, and money it’s going to take to fully restore them. Sentimental value is another thing you can’t put a price on.

Aside from the opportunity to retain a vehicle that you like, there are various other benefits that may come with restoring a vehicle. These include:

• Higher resale value: Classic cars are already worth money, but putting in the time, effort, and money to restore them can only go to help their value – regardless of whether you want to hang onto them or sell them.
• It’s often a bucket list item: You don’t have to be a gearhead to appreciate owning a classic car and want one of your own to drive and maintain one day. For many, restoring a classic car is a hobby.
• Pride in ownership: There’s a certain level of swagger that classic car owners have – especially knowing that they were the ones who put much of the work into getting their vehicle looking the way it does.

The biggest con of restoring a vehicle is the cost that’s involved in doing so . Parts alone could cost upwards of $10,000, and that’s not even considering labor costs, which could be upwards of $200 per hour for mechanics that specialize in classic car restoration. Then, of course, there’s the paint job. Low-end paint jobs can cost several thousand dollars and high-end ones can cost tens of thousands.

Some other cons of restoring a car involve sourcing the right parts and the lead time involved in getting the vehicle drivable again based on its condition.

For more information on restoring vehicles, contact Wrecktify Collision and Restoration today.