My boyfriend wants to buy a muscle car, restore it, and sell it...?

Question

Can a lot of money be made in doing this? I realize that it depends on the car and the market, but could he make a nice profit?

What are some things we should take into consideration? Obviously the amount of money to spend to fix it, but are there other, less obvious things?

It's his dream job and I want to help him achieve that dream.

Your help will be greatly appreciated!

Answer 1

First you guys need to do your homework. I would suggest going to a Good Guys car show. Many enthusiasts and professionals show at these events. They can give you realistic cost figures. Most of these people have more in their cars than they could get back by selling it. That does not mean that a profit could not be made. There are just many things to understand.

From an investment viewpoint, certain cars are more desireable. In other words a 1963 split window Corvette would have more resale value than a 1963 Rambler. Knowing which cars are most sought after will help in your plans even though they will cost more to purchase. Next you need to understand what sale market you are going to sell to. Are you looking to sell to someone looking for a regular driver or a show car or a custom? These are 3 different markets with different expectations and costs involved. It would probably be easiest to break into the regular driver. This is a car that looks nice rolling down the road and is in good enough mechanical shape to drive on the weekends. These cars may have some incorrect parts for their year but are in good shape. The other 2 groups usually require frame off restoration and take a major investment in renovation.

The people who do this are a very friendly bunch of people who like to share their experiences. Go to some shows and talk to anyone and everyone to gather as much information as you can. These people really know how to network. Good luck with your adventure.

Answer 2

Ever watch " Flip this house"?---sometimes you can find a diamond in the rough and with a few moderate repairs, turn it into a gem but you have to know what cars are hot sellers.time restraints, equipment, tools, unforeseen issues, etc.. Most people that do this wind up spending more on the mods or repairs than they ever get back out when they sell...the only profit you turn is from sweat equity---doing the work yourself as much as possible and farming out as little as possible to have some certain work done beyond your abilities. Lots of people make a good living at it but it takes 2-3 years to do a proper restoration part-time that will command a high dollar price. Might be better for him to go work at a restoration shop first and find out the ins and outs of restoration before doing his own. It is a lot easier these days to do with all the suppliers available to get quality reproduction parts. Before you start a project like this, sit down and setup what your goals are in the restoration, how much you plan to spend and on what repairs, how long it will take, who'll do the work if you sublet it out, how much profit you think you'll make, what car will sell well in the market....figure out all the angles as much as you can.
Good luck.

Answer 3

You need the proper skills and tools and shop to do this. You also need time, and lots of patience to do things right and track down parts and info on how things should be. If you lack any of these, it will be a severely long haul to do a restoration that will generate some cash for you. Do some homework and find out if you really think you can do this. If you decide you can, have fun. Working on a car and making it better than it was is a great way to spend time and make yourself better.

Answer 4

Is your boyfriend an expert at body and paint repair; engine, suspension, brake and electrical system rebuilding; upholstery and glazing? Is he a certified welder?

Does he have his own well-equipped shop? EPA-approved spray booth? Plating facility?

Does he have the expertise to recognize a true high-value car, as opposed to a run-of-the mill high volume drone with a big motor? Can he spot a forged build sheet?

If he has the capability of doing all or most these things perfectly - HIMSELF - and the facilities in which to do them, he could make a go of it.

Cars are not investments. Taking an old beat-up car and making a show-stopper out of it (the only kind that sells for big bucks) takes a lot of work.

If you can't do it yourself, the guys that you have to pay to do it, and do it right, will eat your lunch, your dinner, your breakfast, your brunch, and take a bite out of afternoon tea, bedtime snack, and your kids' college fund while they are at it. In the end you will have spent hundreds of thousands of bucks on a car that will bring tens of thousands at the muscle car auctions.

If it's his dream, and he has the determination and persistence to pursue it, I wish him the best of luck. And I'll be looking for his work at the Russo & Steele, RM, Gooding, and Barrett-Jackson Auctions.

Answer 5

There are lots of professional restorers out there, so getting into this field is very competitive, maybe he should try and get a job with an established shop first and move on from there, he could take years before he can see a profit if he goes it on his own

Answer 6

It take years to finish restoring a car. That is to get make any money out of it. The right car restored can bring in a million. You will have hundereds of thousands invested in it. Find you a 70 cuda convertible. lol

Answer 7

yes there is money to be made with doing it but the most benefit is the pride you will feel when the project is completed and other admiration that know the time that goes into something like that..it is a great hobby but it can be expensive and time consuming..the best way you can help him out is to be out there helping him with what he needs and learning along the way..maybe it will become a passion the two of you can share together.

Answer 8

he will end up putting $20,000 into a car he will only get$15,000 for,thats not a dream,thats a nightmare,believe me,been there done that. however if he has a dream car which he would like to keep,maybe. but also be ready for the headaches of i told you so.