Re: So what does a restoration really cost these d
If you want to get into British sportscars, you must answer "yes" to the following two questions--
Can you work on cars?
Do you have a lot of money?
Buy British because you want a car with some soul, was designed by real people, and was built with two hands. Not computerized designed, robot constructed vehicles of today. Also, I don't know here you live, but even a ratty looking TR4 will turn more heads in the Wash DC suburbs than any late model Porsche, Ferrari, or Bentley.
About the costs. When I started my TR3 project 4 years ago I hysterically thought I could do a frame off resto for $6-$8k. Well I'm in at least on the north side of $30k, with only chrome and trim costs to go before getting it on the road. I'll probably spend $1500 for that. Try not to compartmentalize the major costs like the engine, body and paint costs, because that will probably only account for about 50% to 60% of the total restoration. Costs exists everwhere else like seat covers that will run $500, seat springs that will cost $150 a piece, carb rebuilds that will cost $300, horn rebuilds that will cost $100, new rubber that will cost $150, chrome that will cost $1500, and the list goes on and on and on. The term "nickel and dime" comes to mind.
The way I personally rationalize the investment is that the car will be practically new when I am done, and I know that it is done right. I'll know everything about the car, right down to the location of the clips used to hold the stainless steel brake lines to the frame. Also, at the end of the time and money commitment is something, opposed to a hobby where you have nothing but stories like football or golf.
The most important thing, even beyond selecting the "right" car for restoration, is having 1. spousal support for your project, and 2. a realistic assessment of your own skills and tool inventory. A car project will immediately turn sour if you don't have buy-in from the wife. About your skills and tools, if you don't have the skills, then you will have to pay someone for them, which aren't cheap, and about the tools --neither are these. A decent welder will be $450, wrenches, sockets and screwdrivers will be several hundred dollars.
About the right car to purchase. Spend more than you want to, but not less than you should have to. When I bought mine, I had a pyschological barrier to the $5k mark -- I could have spent $8k for one that was in infinetely better shape, but for some reason I wouldn't. That was a big mistake. In the end, the cheaper car needed much more and costs alot more in total restoration costs. Buy the most car you can possibly afford.
It is a very expensive hobby, but I think in my situation it is therapy.