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Is a 73 Mach 1 Resotration Worth It?
#31
If your concerned about being 10k over value I have news for you that when all said and done you will be 20k over like the rest of us. Big Grin

- Mike
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#32
(03-08-2019, 12:01 AM)mach71351c Wrote: If your concerned about being 10k over value I have news for you that when all said and done you will be 20k over like the rest of us. Big Grin

Is that all! Only $20K? I was planning on $30K over but then again I'm $AUD so you could be about right

But really I don't care what it costs me nor am I keeping tabs on expenditure, just love the car
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#33
If you go buy a brand new car it will loose 20% in value as soon as you drive it off the dealers forcourt. Cars like houses are money pits

Steve
1971 Grandé
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#34
I bought my 71 302 fastback for 14,500 2 years ago. It was in driver condition. Paint is a 20 foot 20+ year old paint job, cracking in places, but minimal bondo. Interior was a 8 out of 10, C4 transmission. I think we put about 2500 in it fixing a bunch of minor things, but now its very reliable. It still could use a new carb, but theres always going to be a thing or 2 it needs. I have 3 spots in the floor pans that need to be replaced, other than that its a great driver car. With the money I have put into it, its barely a break even now. But I didn't buy it as an investment, I bought it to enjoy. If you love the car, a cheap 302 car is the perfect car to restomod. You won't be ruining a more valuable car, and you can do whatever you want to it. It is conceivable that you could restomod the crap out of it and make a profit selling it to the RIGHT person. Remember, there are rich people with more money than sense all over the place. It just takes time to find them. Ive seen people pay 700k for a truck restomod project that wouldn't be worth 50-60k at auction.

"I drank what?" - Socrates
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#35
runninpony 
(03-08-2019, 08:39 AM)jowens1126 Wrote: I bought my 71 302 fastback for 14,500 2 years ago.  It was in driver condition.  Paint is a 20 foot 20+ year old paint job, cracking in places, but minimal bondo.  Interior was a 8 out of 10, C4 transmission.  I think we put about 2500 in it fixing a bunch of minor things, but now its very reliable.  It still could use a new carb, but theres always going to be a thing or 2 it needs.  I have 3 spots in the floor pans that need to be replaced, other than that its a great driver car.  With the money I have put into it, its barely a break even now.  But I didn't buy it as an investment, I bought it to enjoy.  If you love the car, a cheap 302 car is the perfect car to restomod.  You won't be ruining a more valuable car, and you can do whatever you want to it.  It is conceivable that you could restomod the crap out of it and make a profit selling it to the RIGHT person.  Remember, there are rich people with more money than sense all over the place.  It just takes time to find them.  Ive seen people pay 700k for a truck restomod project that wouldn't be worth 50-60k at auction.

WHADDAYA mean a CHEAP 302  Huh

71-73 Mustangs never die, they just go faster!
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#36
What's the best way to build a $100k car? Spend $250K on a car...

"flipping" a car is not like flipping a house. With a house all you have to do is find something undervalued that needs some work, fix obviously bad stuff, dress it up a little and collect your money... and then something will still go wrong.

With a car, you either need to find one of the rare cars that are really worth something for nothing and restore it or find whatever car is hot in the restomod market for next to nothing and figure out the mods that someone will want on the car for it to sell well. EVERYTHING else is going to cost more to restore or modify than it will be worth when it's done. Honestly, for most of the car market, the cheapest way to get what you want is to find something as close as possible to what you want that someone else has already spent their money on and buy it from them at a loss. The problem comes in when someone believes that the car they spent $50K on is worth $70K when the nicest possible example of that car is only worth $25K.
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