Is it worth it to spend 25,000 dollars to restore a car every 15 years?

Question

Or is it better to just buy a new car. I'm looking to do a restoration on a cadillac allante or mercedes 500sl. Parts & Labor will run me 25k. But I like the old styling. Is it worth it to do it?

Answer 1

The problem with restoring relatively recent cars is that the cars tend to have expensive components that will become harder and harder to replace. Whereas any fabrication company can make any part on a 1967 Camaro, the 500SL has many modern features that may go expensively awry. A few examples, the fully automatic roof is completely computerized and has lots of hydraulics to keep functional. A roof replacement could cost thousands.

A 500SL also has lots of expensive components like ABS, ASR, auto leveling suspension, and a 4 cam, 32V engine that is a long way from a chevy small block. It's essentially a modern car with 15 years of wear on it, which means that a $15K used 500SL will have parts that are comparable in cost to an $80K new SL 500.

On the other hand, if you really think you can keep the car pristine for $25K every 15 years then it's a fair deal. $1800 in maintenance a year is cheaper than any car payment, because even new cars cost money to maintain. Up to you, though I'm in agreement with you that Bruno Sacco's design for the 1990-2001 Mercedes SL is a wonderful car. If I were you I might sell my early SL to get a later example... they've depreciated quite a bit compared to the new model.

I would not have any qualms with driving a 500SL today, it was ahead of its time in many ways and has many modern safety systems. The Allante would give me pause mainly because I hate front wheel drive and the questionable GM heritage.

Answer 2

Of those two cars, I'd bet the Benz will make it to Barrett Jackson first, even though the Allante had a Pinninfarina design, and was reasonably rare. Restrorations are never cost efficient, they are a labor of love or protecting an investment that will later be sold for a profit.

Answer 3

Absolutely not. It's a waste of money. Both of those cars, while they may be interesting classics, are far from a modern car in terms of safety & performance, and reliability. IN fact the Cadillac was a lousy car to begin with, so it's not worth much even in perfect condition. Old styling is nice. Old engineering sucks.

Answer 4

Call the insurance company & find out what the payoff is if you total it out. If you put 25k in a car that will be worth 10k 2 years from now and you totalled it out you'll be losing big bucks

Answer 5

If those cars are worth it to you then go for it. I personally would not put that kind of money into one of the cars you mentioned above, you would never be able to get it back. But it's somewhat like collecting things. You buy what like, what appeals to you regardless of cost. One day that item might be worth more might be worth less? Ya just never know? Remember that something is only worth as much as one is willing to pay for it.

Have fun!

Answer 6

I read an article once on this very question.

Buying the shell you want and fitting it out with mod cons and mechanicals may cost you $25000, (that's a Conservative guess, add 1/3rd.) but won't de-value once you hit the road.

You will drive something unique and of your making, and when your bored with it, will re coupe a large chunk of your money.

As for 15 years? it's rare to hold a car this long, plan on 5years

Answer 7

on an old muscle car it is but not on an allante as they are not in demand right now and don't hold their value.

Answer 8

Depends on how much you like your car...otherwise I'd say just get a new one.

Answer 9

New one. Un less it is an antique, GET A NEW CAR!

Answer 10

25000 you droppin 800 horses in there or do you like getting screwd