Is a Classic Car Restoration a Good Investment?

Many car enthusiasts, old and young, dream of returning an old car to its former glory with a complete restoration inside and out. But is a classic car restoration a good investment?

We answer that and more in our guide to vintage vehicle restorations below!

A Car Restoration Can Be a Good Investment If Done Correctly

Cars, especially older vintage models, are always tricky investments to gauge because they depend on individual factors like condition, rarity, and desirability. 

But while every car project has risks, a classic car restoration can be a good investment if done properly.

Restoring a car is not unlike flipping a house—the right model, with some elbow grease and updates, can go from a junker to a valuable classic and dramatically increase its value. 

If the model is rare or highly sought-after, even some basic cosmetic changes can make all the difference in its value. 

But before you jump into a top-down complete restoration of an old car, there are some things to ask yourself first to ensure it's a wise investment.

Questions To Ask Yourself Before Restoring a Classic Car

What's My Project Budget?

First, you should decide how complete the restoration you plan on doing is and what budget you'll need to finish the project. There are four levels of car restoration, ranging from just making it drivable again to a complete restoration to make it look brand-new. 

The higher the level, the greater the investment and the potentially bigger payoff, so weigh the pros and cons of each level and figure out your needed budget from there.

Is the Car Worth Restoring?

Next, owners should consider whether the vehicle is worth the investment and restoration. Even with thousands of dollars invested into its restoration, a classic may still not be valuable if it's a common model and not interesting to collectors and enthusiasts. 

Research the car you plan on restoring, see what similar models are fetching for sales and auctions, compare it to your proposed budget, and weigh whether the car is worth restoring.

How Much Can I Do Myself?

Doing some parts yourself is a great way to save money during restoration and put it towards other areas of your budget. But you should be self-aware of your abilities and limitations—you can do more harm than good if you mess up and damage the car and restoration. 

You can do the project's smaller, less important aspects but leave the bigger issues to the professionals with the necessary equipment to ensure you don't damage your investment.

Final Thoughts

We hope you've enjoyed our breakdown of classic car restorations and their investment quality. Restoration is an excellent investment and hobby for many seniors, retirees, and soon-to-be retirees. 

So, if you've always wanted to rebuild a car from scratch, there's no better time to do it!