While we are on the theme, I have often examined the cost of doing a restoration vs buying a restored vehicle.
I suppose it come down to where one's interest and ability lay. My personal enjoyment comes from fixing them up, although it is very easy to go over budget if not careful with the initial purchase. Of course, nowadays finding an example to restore in decent shape and at a good price is a challenge.
I suppose the reason a lot of fellows start off with a "project" is that it is affordable; saying this I mean that it is a lot easier to justify or even explain your way out of a purchase for a few hundred or even a couple thousands for your project and then pick away over time (years) to get it done vs dumping tens of thousands on a restored vehicle just to drive.
I have never bought a restored vehicle but if I was going to I would expect it to be to high standards. I have bought items that were said to be "restored" that were in fact amateur restorations or more aptly "preservations".
Often times I think that guys can find a good deal by looking at someone elses project that has lost interest, time, storage space etc. This is where the deals are to be had. In these situations I have found that along with the vehicle usually comes a lot of parts and extras which sometimes are worth more than the asking price alone. I can understand now why some guys have multiple parts vehicles, a result of many package deals. In some cases, package deals turn out really well, like a treasure hunt you never know what you may find. I purchased a project several years back that came with a bunch of parts. As it turned out, most of the parts had nothing to do with that particular vehicle but in "fire sale" fashion, liquidation of these to my friends and associates paid for my purchase vehicle. I was at break even. Nice.
My advice to anyone starting out is to always understand what you are getting into to the best of your ability, ask lots of questions, look for guidance and buy a project in the best condition you can afford. In the long run you will be happier and less broke.
