Classic Car Buying

You've done it all right. You've got the drive to take on the restoration, the money and the time, and even "the vision."

But you've jumped the gun and it's come down to one simple but horrible mistake:You bought a Sows ear, a pile of rusty trash to restore and it's going to take a lot more work to put right than the thing deserves.

The truth is, starting with a loveable rolling wreck or basket case, can be the most expensive way to do a restoration.

It's fine if you've found a Cobra factory racer that will be worth millions when you're done or if you want to create a Hot Rod with all the trick one of a kind stuff.

But what if the apple of your eye is Aunt Eddna's old Plymouth Valiant? You're upside down before you've even gotten the thing off the trailer.

Here are the four, clear cut go to rules that can make your restoration project success.

                                               Set Clear Goals

Rule Number One before starting any restoration is to be clear in your own headabout why you're doing it and what you want the end result to be.

For example: Are you retired and looking for a fun project? Do you hope to make money on your finished restoration? Is the goal a perfect show car? Is buying a fixer-upper the only way you can afford your dream car?

Or is it just a fun ride for next summer? Buying the right car for your situation can greatly impact the pleasure and success you get from the project.

                                              Search Patiently

Once you've targeted the type of vehicle you want, wait for the right one. Your relationship with this car will be a long one, and years from now you'll be glad you waited.

This not only goes for the proper make, model and options, but the right condition as well.

Let's say you've always wanted a 1966 Mustang K-code. Everyone knows you can fake one from a six-cylinder with a set of fender badges,a solid-lifter V8 and a few other details. But you will always know what it is—a fake.

Instead, subscribe to "Hemmings," scour the Web, join some Mustang clubs—and wait. In no time, You'll find just what your after!  

                                           Know What You're Getting

Unless you really know cars, a basket case is the worst possible entry point.

There are tons of parts, assemblies and fasteners that have the chance of getting lost or damaged while apart.

Even if they're all there, guess who is going to have to figure out where they all go? Likewise, there's no chance to assess the car's running condition before you buy.

Once you've found the right make and model, make sure it's not a rust bucket, or you're going to have to factor in the cost of bringing its body and frame back from the brink.

This will lead into weld-in patches, custom sheet metal,new rockers or quarter panels and maybe even a new frame. 

You also need to really dig down deep and find any crash damage.Heaps of plastic filler in the panels can be easily hidden, only to cause grief once you get into the project.

Special-interest cars tend to attract modifications. Consider how well the car you're eyeing lines up with your end vision. If what you like is stock, all the modifications the previous owner made—like the trick 17-inch wheels and tires on a Chevelle—are of no value to you.

 In fact, the seller will want a higher price for the car because of them. And you'll still need to find originals later.

                                       Take Heed, the Mighty Calculator

Restoring cars is expensive.

The cost of specialty services such as plating and painting, engine building, and NOS quality replacement parts can add up to some serious dollars. 

The standard rule that you should restore a car for your own pleasure and not for profit is still best. So before you decide on which model to restore, and before you buy the one you're pumped up about seeing next Saturday,

Sit down with your calculator, a few magazines, an Internet connection and a sensible buddy or spouse, and build a plan. Write down the major costs involved. How much is the basic car?

What services will you out source? Which ones can you do yourself? What parts, tools and equipment will you have to buy? Estimate high, and make sure you leave room for the unexpected.

Show us a half-finished restoration in someone's garage and we'll show you a guy who ran out of money. Or steam. Or talent.

The good news is that buying the right car for your vision, budget and capabilities can prevent this scenario—and guarantee you many happy restoration dreams instead.