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So what does a restoration really cost these days?

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Jedi Hopeful
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Hi All,
A friend is looking for a project TR4. However I have been encouraging him to go ahead and buy a nicely restored car. I think he'd rather pay for it gradually, i.e. to buy the car, later rebuild the engine, and so on. But my guess, and what I've told him, is that it costs more to restore a car, even a fairly decent one, than buying one already restored.

Here is an example project: Triumph TR4 project

I have been out of the loop with restoration costs for a long time, so I don't know what engine rebuilds, body repair, chrome work, etc. costs these days.
What do you think the total cost would be to restore this TR4 to a correct original standard?

Thanks!
 
I don't think that you really want to know the answer to that question.

I know that I don't, so I never add anything up.
 
I have so many receipts, tickets and invoices it scares me to even think about adding them up. I will say that this "hobby" is the only thing I have interest in at this point in my life, (besides wife and twin 24 year old boys) and wouldn't have it any other way. I think, like I have seen others write about, that this hobby has brought me and my significant other closer together, plenty of hand holding drives in the mountains and picnics, too...
That said, adage is buy the best car you can afford, avoid one with rust and the resto will be alot cheaper. I'm heading to the barn to drill spot welds off the rear fender on my parts car, for it's removal. Have a nice nite! I will.
 
It's cheaper to buy a restored car. And you get to drive it sooner too.
 
$800,748,947,485.89 plus tax and shop fees.
Buy the restored car, and then enjoy it.
 
Depends on what you mean by "restore"...and also, which car.

A car restored for participation in concours events may bring as little as 25 to 33 cents on the dollar. A rare car and/or "hot" item, like the Hemi Cudas of late may bring full value (vehicle cost plus restoration cost) or even more.

A nice "cosmetic" restoration say to a #2 standard on the more common LBCs is probably going to net you 50 to 75 cents on the dollar. I've got a friend that just finished a very nice Midget driver (finished it right before the divorce)...he'd be happy to get back $4000-$5000 for the $8000+ he has in it.

Ray
 
Roofy must have worked a sneaky discount somewhere along the way.
 
Re: So what does a restoration really cost these d

Paul
Roofy just made up that cheap figure just incase his missus reads this post...........
Regards
Craig
 
Maybe not always true to purchase a restored car, Peter.

Afterall, my wife purchased a fuly restored TR6 and I got
67 miles total drive the first 12 months. Between major breakdowns.

It seems, almost any Triumph, except a Concours, should be considered a project black hole that requires almost unlimited cash thrown into it.

I say, unless the chap has barrels of money and is looking
for a long term hobby, he'd best stay away and forget about
it.

I know my restoration shipping costs are high because of where I live but still I'm well over $40K and mine is a driver only. Nothing to show or brag about-

PedroUpdate.jpg
 
Dale, sorry to break it to you mate but your wife didn't buy a fully restored car. Just because someone tells you it's restored, does not make it so.

If that were the case then we'd all have restored cars and Moss would be in receivership...

To the OP. Friends don't let friends buy projects. As everyone else has said, it's a total money pit. 50c on the dollar is charitable as a return rate, it depends where you live and what local labor rates are...

The car you are showing needs a diff and a tranny. $2500 for a pro rebuild for these. Rust repair - no idea, but not cheap. Paint 6k+, Interior - about 1k to do nicely, and about $1500 for rechroming. Budget another $2k for suspension, shocks and brakes. Then if it needs an engine, probably another 3-4k.

Turns a 6k car into (potentially) a 20k car. You can get a nice TR4 for less than that.
 
I'm laughing at these post. and reminded of that saying "If you have to ask how much it cost, you probably can't afford it". I'm officially a retired person who went back to work to buy and support this car.
 
I'm trying to finish my now or I'll never get to retire later.
 
alana said:
Dale, sorry to break it to you mate but your wife didn't buy a fully restored car. Just because someone tells you it's restored, does not make it so.
Click to expand...

Alana- My point exactly!!!

Restored or project car--- seems to make little difference
in the money required to get it fairly reliable.

d
 
Labor is the big killer. If you can do 90% of the work yourself it isn't to bad. I've got $7,000 in parts so far in a TR6 I have owned since '75 and it's not painted, engine not re-built, no interior.

I also have $3,000 in tools and things.

I expect to drop at least another $4,000.

Don't tell my wife...
 
That's because you didn't really get a restored car even thought you did at the time.

I think yours might have been more aptly called a driver restoration candidate rather than 100% restored when you purchased it.

But now, after all of your hard work you have what might be called a nice driver. Like my 3A, not a show car, but major components rebuilt or replaced, nice running condition, and decent body with no noticeable damage.

Good work.

Oh, and the point of this. A "nice driver" is a great entry point of Triumph ownership. Buying a nice driver rather than a professionally restored TR will save you money, "let" you work on the car some, and give years of relatively trouble free driving.
 
Re: So what does a restoration really cost these d

All I can say is be very careful when buying a "restored" car. If you or your friend is in the market for such, and you perhaps really don't what you are looking at, then get a really knowledgeable person, even pay for it, to thoroughly examine the car before committing. I have seen too many friends (Tinster included) that have paid premium prices for something that is less than premium value.

There are all sorts of caveats involved in purchasing a restored car. Check the current value of the model you want and weigh that against the cost of the potential purchase. Get lots of advice from someone you trust.

Interested in a resto-mod TR6 that has a weird clank upon starting? Make offer.
 
Re: So what does a restoration really cost these d

I think this hobby is astronomically expensive, but exceedingly good fun. In terms of hours of enjoyment per dollar spent, it's a much better deal than most anything (except the obvious).

That TR4 looks great, but I wouldn't touch it for more than about $2500, even if I had the money and space.
 
Re: So what does a restoration really cost these d

TR6BILL said:
All I can say is be very careful when buying a "restored" car.
Click to expand...
/bcforum/images/%%GRAEMLIN_URL%%/iagree.gif
Plus, if you plan to drive the car other than on and off the trailer, be sure to inquire about how far and how often it has been driven since being restored.
 
Ray-

Ain't it the truth? Paint!

The Mrs was so pleased when I finally got my "fully
restored" TR6 operational after two years of effort;
she graciously offered me $1,000. of her personal stash
to have the car professionally painted.

We got an estimate maybe of $12K to %15K, if memory serves.
I have not yet begun any engine work or replaced the tranny.

These cars are money pits that are fun to drive when they
are functional. My two months of driving have been a blast,
I admit.

d
 
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