Restoring an Old Car – What you Need to Know
It’s not rocket science. If you’re planning to buy an old car to sell it on (or even if you’re planning to keep it for yourself), then you should try to buy at the lowest price and sell at the highest price.
It sounds simple but that’s not really the case. The team at IPS Paint Supplies has come up with some of the points you need to consider before going down this path.
Question 1: Will the car retain its value?
The first thing you need to consider is whether the car you are planning to purchase and restore will retain its value and will you make money after restoring it. What you should do is to compare the total cost of purchase and repairs against the potential sale price after restoration. The aim is to make at least some profit, even have enjoyed the whole restoration project. We recommend that you look at which car models tend to increase in value once restored if making a profit is your main goal.
Question 2: Is the vehicle working order?
Restoring a non-working vehicle can be very expensive as, in addition to the surface areas, you may also have to replace costly components such as the engine and its cylinders, transmission, suspension and camshaft. And if you’re looking to sell the car on for a profit, then these restoration costs will eat into your profits.
That’s why it’s better to purchase a vehicle with a functional engine, suspension, and transmission system so you will only need to do a few repairs to improve its performance – leaving you time to focus on the paint and restoration process.
Question 3: Does the car have any structural damage?
When it comes to this question, you should be looking out for two types of car damage: cosmetic and structural. Cosmetic damage affects the appearance of the vehicle and include scratches, dings, and scrapes which are easily fixable. Structural damage affects the vehicle’s frame and can include body damage after an accident or rust damage due to exposure to corrosive elements.
Structural damage can be costly to repair, and in most cases, can exceed the value of the vehicle. So, restoring a car with structural damage may not be a worthwhile process. On the other hand, cars with cosmetic or mechanical damage can be more easily restored and sold for a profit.
Question 4: Are replacement parts readily available?
This question is key as replacement parts are not always readily available for some old vehicles. This is a factor you need to take into account before choosing a car for restoration. Ideally, you should check if parts for your preferred vehicle are readily available locally to reduce the cost of sourcing and shipping.
If possible, look for OEM components, as these preserve the value of the vehicle. Check at local and online vehicle salvage yards for used parts. You can also get help from your car repair shops. However, if OEM parts aren’t available, it’s best to find high-quality aftermarket ones for the vehicle.
IPS Paint Supplies
The business of buying, restoring, and reselling old cars can be lucrative, but only if you choose the right vehicles. Then you also have to make sure that you invest in the best quality and most appropriate products to carry out the restoration project.
At IPS Paint Supplies we stock a huge range of vehicle restoration products, including the Novol Classic Car Range, which we supply to auto body shop garages as well as to the general public. Call us today on the number below to find out more: