Opinions on buying old/restored cars

Turkey | Mythic Inconceivable!
 
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Buying a car soon, and I was wondering what you guys think about buying old or restored cars. I'm talking under $10k. I've got a friend who flips cars so I was thinking it would be fun/save money to pick up a car for around $6k off Craigslist and finish the restoration with him, or just buy one that's already done. I've always liked the look of older cars, especially mid-70's, but I've been told (by someone who may or may not know what they're talking about) that it's a bad investment and that they don't hold value well.

Hook me up, Sept.


rC | Mythic Inconceivable!
 
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ayy lmao
do you like spending time working on cars? do you like dirty work? do you like overcoming frustration? then do the restoration.

do you not like working on cars? do you prefer to have a car that just werks? do you not have the time/patience to overcome that kind of frustration? then buy one that works well outright.

ain't that hard, nigga


 
Focnr
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I think when it comes to cars you have to flip them quickly and not spend too much money on the restoration. Fixing them up doesn't add too much value to them. I could be wrong but that's what I've seen so far. I'd say go for it. I like fixing up cars.


 
DAS B00T x2
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This is not the greatest sig in the world, no. This is just a tribute.
especially mid-70's,
Keep every little thing stock and hold it for fifteen years, or rip out the drive train and put in something that isn't suffocated by EPA anti-smog gear and held back by a slushy three speed tranny and sell it to some 18 year old kid with an upper-middle class dad.


Turkey | Mythic Inconceivable!
 
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I'm not talking a restoration from the ground up, I'm talking cars that are already daily drivers but could use new parts that the sellers aren't willing to do themselves for various reasons. Or just cars that have already been restored or maintained. Although I do like mechanical work.


 
DAS B00T x2
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This is not the greatest sig in the world, no. This is just a tribute.
I think when it comes to cars you have to flip them quickly and not spend too much money on the restoration. Fixing them up doesn't add too much value to them. I could be wrong but that's what I've seen so far. I'd say go for it. I like fixing up cars.
True. You've got to make sure you don't go in more than you'll be getting, which means being very picky about what cars you try and flip. Anything so cheap that the profit looks phenomenal is gonna cost you more that it's worth, and what won't take too much work usually won't make more than a hundred bucks unless you plan on sitting and waiting for that one guy to come around...

Also, there's some legalities in regards to how many cars you can just buy and sell like that before the government considers you a business... look into that if you're gonna make this a hobby or side project after you get your personal one done.


 
 
Flee
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