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Project Cars Vs Driving - Complete - Finished Cars


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#1 luvemfast

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Posted 07 June 2017 - 09:04 AM

May be a can of worms, but here goes......

The idea here is more of a guide for every Tom, Dick and Harry wanting to but the cheapest Z they can and restore it.

 

Here's my 2 cents.

 

I'll keep it short and sweet.

 

You want a project car to work on right? Then you can spend money on it slowly and build it up over time.

Next thing you know, it's been 10 years and you've not only lost interest. You've still never driven it!

 

Buy the best car you can afford. If you can't afford the best car, the cheap one will cost more than that!

People think that buying a rusty clapped out POS is going to be the best option. It's not.

Even a guy who loves working on cars and has years of experience, will want to buy a good solid base to start from. 

 
If you don't have the money. Why not get a loan and buy a better car. 
Instead of spending money on buying parts to restore and repair rust. Use that money to pay off the loan while you enjoy the car. 
 
If you have the money. Why don't you just spend it on the right bloody car? 
 
The most valuable thing any of us have is time.

What are you going to spend yours on?

 

 

 

 


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#2 gav240z

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Posted 07 June 2017 - 09:37 AM

Agree, but in some cases you have limited options if you want a low VIN 240z for example. I took a look at #51 and my brain said nope. My heart said yes. I was encouraged by a partnr who probably liked the idea of me hanging around in the garage rather than being out chasing other women perhaps? :P haha.

 

Having said that I already have a running / driving 240z so I can take my time, but I agree whole heartedly buy the best car you can. It will need work anyway so you'll still get to work on it and fix things (if that's your thing). Buying $5k rust buckets as abandoned projects... well...you'll spend $70k+ getting them right anyway..


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#3 1600dave

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Posted 07 June 2017 - 09:55 AM

The most valuable thing any of us have is time.

What are you going to spend yours on?

 

Me, I'm going to spend it tinkering away in the shed on my project that has been going for nearly 10 years.

 

Why ? Because that's what I enjoy. Yeah, it will be fun driving it one day but I will realistically only drive it on the odd weekend, whereas I can tinker away in the shed every night (wife permitting..)

 

Having said that, your reasoning is solid if you just want a zed to drive and don't care for the "messing around with cars in the shed" bit.


Edited by 1600dave, 07 June 2017 - 09:58 AM.

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#4 Cliff

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Posted 07 June 2017 - 09:59 AM

I also agree provided the 'finished' car is done to a good standard and that can be verified.  Guy in my street paid big money for a finished XA and time revealed that the workmanship was not so hot. 

I would add to your comment that money/time/effort should go into properly checking a car out before you buy it and that might mean paying someone some money and then, maybe, walking away from a car. 

Some people are blessed with time and mucking around with cars is better than anything they can think of.  Some peoples skillset allows for them to restore a car at a reasonable price. 

 

BUT..... if we don't have people interested in the cars, restoring them, drawling over the finished ones etc etc etc, then the interest might not be what it is - my opinion anyway.



#5 luvemfast

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Posted 07 June 2017 - 10:11 AM

In saying that.

I have done both.

They are both enjoyable and neither are ever actually finished!

 

I've been out in the garage for most of my life, it's more than just working on the car out there.


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#6 260DET

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Posted 07 June 2017 - 10:29 AM

Depends a lot on the individual's situation. The biggest mistake often involves a young bloke wanting to get into a Zed as his daily, no other car to fall back on. Like all of us he starts out keen but often without a lot of cash or ability, he needs a car to drive but the bloody Zed is taking forever to fix and is costing too much anyway. So many other problems can arise too eg as a result of moving house, loosing a job, personal problems and so on.

 

It can be a rocky road unless it's a manageable project with no finish by date backed by a stable financial and personal situation.


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#7 potter260

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Posted 07 June 2017 - 10:54 AM

14 years, many lost parts, lots of money spent, never driven, goes under water in a flood when it's nearly finished. Wish I bought one registered and fixed it as I went.

#8 potter260

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Posted 07 June 2017 - 11:00 AM

And it's cost me 5x what I thought would cost!

#9 George

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Posted 07 June 2017 - 11:03 AM

Every time I see a new WTB thread pop up and their budget is 5-10k I feel like grabbing them by the neck and shacking some sense in to them.

 

A 5k car will cost you 10 times that to get on the road in up to 10 years time.

A 30k car will see you on the road now and enjoying that car for the next 10 years at which time it will be worth 60k or more.

 

But what's my opinion worth when I took up the first option!



#10 gav240z

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Posted 07 June 2017 - 11:14 AM

I haz same feelz George, but what can you do? Sometimes people only learn by finding out for themselves. But seeing all those 10k rust buckets is why I decided it's time to start importing panels. Those fellas are gonna need them! :D



#11 luvemfast

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Posted 07 June 2017 - 11:32 AM

Here's one of my examples.

I bought this orange basketcase with the intent to restore. I sold it off 6 months later, after realising that my family life is too demanding to take on a project like this at this stage of my life.

 

Then I bought the white one from Queensland. I flew up and drove it home, was an awesome road trip via Bathurst. 

There's always things to do to even good cars. Ends up being your car, even though you didn't build it.

 

And they go up in value more than they cost to own!

 

 

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#12 gav240z

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Posted 07 June 2017 - 11:46 AM

And they go up in value more than they cost to own!

 

Past performance isn't an indicator of future performance.

 

Having said that I agree, I bought my 72 240z for $7,500 in 2002. Not sure what it's really worth now, but insured value is around $50k. I haven't had to "invest" that much in it in comparison because it was already a well sorted car and had a lot of money and time sunk into it by the previous owner. I've been able to do a few customisations and enjoy it. It's far from perfect but in terms of rust repair work. It only has a tiny amount of rust in the doors and around the petrol filler (where they have that moisture trap). I'm sure there is a little more here and there but nothing outrageous. I will get to these issues at some point but the rust hasn't actually got any worse since I owned it because it's been garaged.

 

It would cost significantly less to restore that car buying it at $50k than a $5k rust heap. But not everyone has the capital upfront to do it that way either.

 

#150 is not actually that bad, but taking a leaf out of your book I've decided to start looking for the best panels I can find because working on worse ones takes more time and often costs more. It's not that it can't be done, but the overall fit and finish is not as good in my opinion. I'm on the cusp of giving up on my bonnet and just finding a better 1 for example as I've just dedicated so much time to it and make so many mistakes along the way, but that's how I learn what not to do next time.

 

#51 completely different kettle of fish... not even gonna get into that. :)



#13 Cozza

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Posted 07 June 2017 - 12:43 PM

Not sure I totally agree. I think it depends on the car, your available time, skill set and more importantly, your expectations.
If you don't have much capital but time and skills are on your side, I reckon a project is the right option.
It might be an extreme case but, Here's a link to a very rusty R100, the project is currently 15 months on and look at the results. Not to mention the money saved and it's current value.
http://japanesenosta..._=1494883818537

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#14 GregTas

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Posted 07 June 2017 - 12:45 PM

When cars are not that common it's also about what's available. I was looking for nearly two years (with wanted adds) for a complete car in fair condition or a project to tinker on myself, but all that came up was cars from $25-30k up.

 

I was wanting a road/track car so had my own needs.

 

So I ask myself why spend $30k or more on a car that will probably not have the drive train I want, nor suspension, brakes, wheels or interior. I'm spending about $20k on stuff I don't want. I felt I was better off with the blank canvas and building it up the way I want it. Lucky for me a suitable project came along at a fair price. It may not save me any money, but that way I get what I want. 

 

The best way to go will depend on what you want and you're own capability, along with you pocket size. There is no right or wrong, it's more about deciding on what you want, looking at options and making a decision based on the assessment of each.

 

I'm hoping my project is a runner in well under 12 months. :)

 

My 2 cents.


Edited by GregTas, 07 June 2017 - 12:46 PM.

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#15 PeterAllen

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Posted 07 June 2017 - 12:58 PM

...The most valuable thing any of us have is time.

What are you going to spend yours on?

 

 

Me, I'm going to spend it tinkering away in the shed on my project that has been going for nearly 10 years.

 

Why ? Because that's what I enjoy. Yeah, it will be fun driving it one day but I will realistically only drive it on the odd weekend, whereas I can tinker away in the shed every night (wife permitting..)

.

 

Agree.

 

I even know blokes who suffer withdrawal within weeks of registration and rush off to buy another POS to start the self flagellation all over again.


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#16 andyk_79

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Posted 07 June 2017 - 01:36 PM

Is that a VG Simon ?  A VG Coupe is number 3 on my list of collector cars I want ! (The Z was number 1, EK Holden Ute number 2)

 

+1 on the buy better upfront if you can and if you want the car to drive it rather than restore it.  I have not gone back and added up all my receipts to date - purely because I want to maintain my denial.  I will comfortably admit though that I would have been financially better off buying Adam's brown hornet or James Flett's car rather than what I have spent on mine......


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#17 1600dave

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Posted 07 June 2017 - 03:10 PM

Agree.

 

I even know blokes who suffer withdrawal within weeks of registration and rush off to buy another POS to start the self flagellation all over again

 

Not me, I don't need to buy another one as I've got another three lined up in the shed ready to go !

 

In all seriousness, I still have my first car waiting its turn for restoration, and it will most likely end up being a retirement project............


Edited by 1600dave, 07 June 2017 - 03:11 PM.

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#18 260DET

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Posted 07 June 2017 - 05:30 PM

Not sure where those who want a S30 race car are going to go with today's prices, the priority is a good body and that's what costs so there is no cheap way out there. Alternatives I considered before commiting to the Z31 were a race 370Z for $35 or else a Toyota 86. The 370Z was/is a very well built car so good value for the dolla.

 

But, like others here, a project has a lot of attractions if it can sit in the shed with no pressure to do anything. 



#19 Retro Z

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Posted 07 June 2017 - 06:38 PM

I enjoy working on cars more so than the end product. I started off with a $2000 basket case 240z 5 years ago and have invested 25k in that time. Car has been complete for a year and has sat ever since with little motivation to get it rego'd.

I've got all the goodies, but i outsourced nothing. I done everything myself and learnt along the way aswell as picking up some quality tools in the process.

If i didnt have the patience, skill set and time it would easily be a 50k build.

I've since got another 240z project that im currently working on now which will be another 5 years of my life...but i love it
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#20 Mike260LW

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Posted 07 June 2017 - 08:19 PM

 
Buy the best car you can afford. If you can't afford the best car, the cheap one will cost more than that!

People think that buying a rusty clapped out POS is going to be the best option. It's not.
Even a guy who loves working on cars and has years of experience, will want to buy a good solid base to start from. 

 
If you don't have the money. Why not get a loan and buy a better car. 
Instead of spending money on buying parts to restore and repair rust. Use that money to pay off the loan while you enjoy the car. 
 
If you have the money. Why don't you just spend it on the right bloody car? 
 
The most valuable thing any of us have is time.
What are you going to spend yours on?

Could not agree more. Money is really cheap to borrow at the moment and will probably remain so for the near future at least. A good zed will appreciate in value which helps justify the cost of interest.




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