Posted By: 67SATisfaction
I added up the $$ for the resto of my '65 Satellite... - 01/05/15 02:52 AM
It has been said over and over to buy a restored car vs doing it yourself..
Well, here are the numbers! Upside down, but not really that bad… I'm not upset in the least. It's just interesting to know right down to the dollar. And someday when I sell the car, my tax accountant will be delighted to use the loss and offset some income..
$3,500 = March 2006 purchase price of worn out 1965 Plymouth Satellite, heavily optioned, 361/2bbl w/console shift 727, 2.76 rear end. AC, power windows, tinted glass, bumper guards, dash clock, courtesy light package. Love the car.
$26,698.83 = November 2006 to Now gross total expenses of restoration. I farmed out engine rebuild, tranny rebuild, all body work, and rechroming. Engine upped to 9.4:1. Body got new trunk pan and QP arches, new paint, new glass and new vinyl top. All the parts and pieces I bought. NOTE: I put no value on my own labor for all disassembly and re-assembly, all scraping, priming and POR-15'ing underneath, all my own suspension work, interior, dash, instruments, straighten and polished brightwork, rebuilt power windows, etc, etc (excluding I couldn't find the receipts for rechroming the bumpers, I recall it was about $450 for both0.
$1,440.00 = Income from eBaying leftover parts, trim, stainless, interior, etc.
$28,758.83 - Net cost to date.
vs
$26,500 - Current negotiated "agreed value" insurance policy. I'm thinking it would sell for $2-3k less on the market today.
So for rough purposes my "net loss" is at least $2,238.83, more like $4,000 - excluding 6 years of my labor and rechroming the bumpers....
Whew...! Would I do it again? Probably, yes. The car is awesome, and I'm proud of what I put into it.
Cheers,
- Art
BEFORE:
This kid is now 11 years old…
AFTER:
Well, here are the numbers! Upside down, but not really that bad… I'm not upset in the least. It's just interesting to know right down to the dollar. And someday when I sell the car, my tax accountant will be delighted to use the loss and offset some income..
$3,500 = March 2006 purchase price of worn out 1965 Plymouth Satellite, heavily optioned, 361/2bbl w/console shift 727, 2.76 rear end. AC, power windows, tinted glass, bumper guards, dash clock, courtesy light package. Love the car.
$26,698.83 = November 2006 to Now gross total expenses of restoration. I farmed out engine rebuild, tranny rebuild, all body work, and rechroming. Engine upped to 9.4:1. Body got new trunk pan and QP arches, new paint, new glass and new vinyl top. All the parts and pieces I bought. NOTE: I put no value on my own labor for all disassembly and re-assembly, all scraping, priming and POR-15'ing underneath, all my own suspension work, interior, dash, instruments, straighten and polished brightwork, rebuilt power windows, etc, etc (excluding I couldn't find the receipts for rechroming the bumpers, I recall it was about $450 for both0.
$1,440.00 = Income from eBaying leftover parts, trim, stainless, interior, etc.
$28,758.83 - Net cost to date.
vs
$26,500 - Current negotiated "agreed value" insurance policy. I'm thinking it would sell for $2-3k less on the market today.
So for rough purposes my "net loss" is at least $2,238.83, more like $4,000 - excluding 6 years of my labor and rechroming the bumpers....
Whew...! Would I do it again? Probably, yes. The car is awesome, and I'm proud of what I put into it.
Cheers,
- Art
BEFORE:
This kid is now 11 years old…
AFTER:
I wish the receipts would have burned up too.
Sometimes when you look at the numbers you forget how long it took to get there, how much more you might have spent if you didnt get deals on parts and services and so on. I always thought it would be kind of a tribute to go through everything I have in my car and post those on a plaque of the items from friends and people met at swap meets 
