To Restore or To Move On???

[Slick]

Need some advice from those who have done restorations...

Have an '86 GT 'vert. A few months ago, while out for a drive, started knockin & clangin like crazy... am pretty sure I have a spun bearing. Has sat in the garage for about 4 months now while I decide what to do.

the laundry list...

-engine needs rebuilt
-tranny shifts ok, but is getting sloppy & should probably be rebuilt
-brakes could stand to be upgraded- which means upgrading wheels/tires
-struts/shocks/springs are tired
-quarter window track bent/damaged
-lock actuator frozen
-accordion cover on shifter disintegrated
-body is decent- paint is a 50 footer... has some rust on bottoms of doors & some bubbles under paint on rocker behind rear wheel
-fiberglass header (headlights) is cracked
-need SFC's
dew wipes are shot

on the plus side...

-no cracks in floor pans
wipes on quarter windows like new
-interior is completely original- cruise still works
-dash pad has no cracks, tears, rips, or excessive fading
-upholstery is in VERY good shape- some wear on drivers seat bolster- that's it- very mild fading
-one partial tear on interior panel at rear quarter window
-installed new cloth top & glass backlight ~ 2 years ago- still looks new (always garaged)
-paint on front bumper cover is spider cracked , but no major cracks or damage
-has original Marchal foglights & covers
-installed 3-core radiator & 190 lph fuel pump ~3 years ago
-has been in California or Florida for the last 10 years

Everyone I've talked to says that once you figure a budget for restoration, DOUBLE IT!

I figure approx. $7k-8k for engine & transmission work- whether the existing is rebuilt (with a few upgrades) or drop in a crate engine, probably $2k-3k in paint & body work, & probably $2k-3k in work on suspension, brakes & rolling stock.

Am trying to figure if I can justify (and afford) this kind of expenditure. Part of me says that for this kind of money, I can get into a late model GT 'vert, or maybe even a Cobra... tho another side of me grooves on the nostalgia of the ole 4-eyes- you just don't see that many on the road. Would welcome some constructive advice from those that have gone through a restoration of this magnitude.

[twister]

I say fix it, I have dumpped a schnike load into mine

[5 Liter Mustang]

fix the motor and just drive it and enjoy it. You can get to the little things one step at a time.

[BetterDays]

click here (http://home.comcast.net/~btr_days/mustang/mustang.htm)

I am in the same boat...

Decided to build the car how I want it....

[Hissing Cobra]

Well, only you can decide if you want to do it. If you really value the car, then I say "Go for it!" I feel that your estimate is a bit conservative. If you concentrate on the engine, transmission, suspension, wheels, tires, brakes, etc...etc...etc... you're not factoring in all of the little things.

These little things will add up - ALOT! Once you make everything that you listed look new, you'll begin to look at other things. You'll say to yourself, "Man the engine looks awesome, but the radiator looks like crap. So does the battery, solenoid, master cylinder, etc..etc...etc..." Then you'll want to replace those.

It's the same with the body. With fresh paint, you will probably want to replace the door handles, headlights, taillights, marker lights, turn signals, and possibly the windshield.

This is exactly why my car took four years to build. Basically, I rebuilt the entire car. It killed me not to drive it during that time :cry: and I contemplated selling it MANY times during the final two years of the buildup. I'm glad that I persevered and now it's paying big dividends. The enjoyment that I get when I drive it is unmatched (unless I'm with the wife and.....) :lol: I've invested close to 25K (I refuse to add up the exact total, but I know I'm in the ballpark.) Some may say that I'm crazy, but any good quality restoration or restomod will cost that.

Hang in there and if you decide to keep it, don't lose sight of your dream. Persevere and brace yourself for a long list of emotions, and possible years of labor and time.

For what it's worth, I could have bought 3 low mileage mint condition stock examples for the same amount of money that I've invested. I regularly see cars like '85-'86 GT's that are bone stock with 30,000-40,000 miles on them for $6,000-$7,000 every summer and these cars need nothing (except for Draglites.) I'm definitely going to go this route with my next Mustang.

[rbmead86]

Restore it, im in the same boat.....

[evlgt85]

Plus, hardly anyone does ALL of that in one go. The financial hit of doing it all at once just isn't something most folks can handle. I don't even want to think of the money that is in my car at this point, but it's a lot and it was done over the course of years, driving it all the while.

[BetterDays]

I guess Hissing and I are the crazy ones..

Hissing, I still say your car looks great!

I can only hope my car looks as good (or even better ;) ) when I am finished....

[Evil86lx]

Do you REALLY enjoy the car? If yes then do it.
If you really need something newer then move on. But remember if you buy a newer one you will have a stang that everyone has.

I like the newer car's but I love the older car's.

One last thing. I would think that making payment's on something that you are modifying and racing would suck.

How about just picking up a cheap ranger as a daily driver and playing with the stang as time and money permit;s.

kyle

[Hissing Cobra]

BetterDays, thanks for your comments. Your car is going to look excellent when you're done! Just don't lose focus.

If everyone remembers, I had to refinance my house to finish mine. However, I waited until interest rates went down so as to not jeapordize my family's well being.

That's another option to consider if you own a house. My mortgage rate was at 6.6%, of which we had 13.5 years left to pay. I went back to a 15 year mortgage @ 4.6%, to finish my car. My mortagage payments changed a grand total of $7.00 per month. So, I lost a year and a half worth of payments, but I'm now happy. :D

If I had to do it all over, I would in a heartbeat. However, the conditions have to be just right. Weigh your pro's and con's.

[BetterDays]

Part of it depends on how much work can be done in the garage and how much will need to be outsourced...

Luckily for me (and my many friends), almost everything will be done here....

[Zap's 85 GT]

If when its done its a car that you really enjoy, then the financial end if the spectrum wont bother you.

If I added up everything I put into both of my mustangs it even makes my head spin. But because the money goes in over time in little chunks you dont really miss it. You wouldnt think that I frst paid $2400 for my Mach 1 ten years ago. Every thing that I did to make the car better was like a tiny victory to me. The more you can do on the car yourself the cheaper getting it to where you want it will be. People see my cars and often ask me how I can afford them(knowing my fixed Air Force salary). But doing all the work myself saves many thousands of dollars. And I have noone to blame when something ges wrong and noone gets credit but me for the build quality of the cars.

[Hargrave]

Engines for these are a dime a dozen, find a cheap one. Haul your original one out and have it redone or do it yourself if you have the skills.
hell don't look at it as a restoration, think of it as the opportunity to upgrade! When you get it back together it will be better than before!

[BetterDays]

That's another option to consider if you own a house. My mortgage rate was at 6.6%, of which we had 13.5 years left to pay. I went back to a 15 year mortgage @ 4.6%, to finish my car. My mortagage payments changed a grand total of $7.00 per month. So, I lost a year and a half worth of payments, but I'm now happy. :D


Did you go from a 30 yr to a 15 yr?

[negusm]

Do you REALLY enjoy the car? If yes then do it.
If you really need something newer then move on. But remember if you buy a newer one you will have a stang that everyone has.

I like the newer car's but I love the older car's.


I agree 100%. To own an old classic (or soon to be classic), you need to have the attitude that nothing else would really make you happy....therefore the "investment" of time and money in the car is worth it.

-Mike

[Zap's 85 GT]

Restoring a car is never a finincial investment, but more of a personal one.

[twister]

Restoring a car is never a finincial investment, but more of a personal one.I have too much into the 86 to ever sell it. I love my car, and plan to be burried in it

[Hissing Cobra]

Did you go from a 30 yr to a 15 yr?

Nope, I went from a 15 (of which we had paid on for 1.5 years for a total of 13.5 years left) back to a 15. If the interest rate hadn't gone down to the 4.6%, I never would have been able to do it. For the record, I paid for half of my car with 2 years of 60+ hour workweeks. Then I changed jobs and the pay scale was different for the overtime (a story for another day.) Therefore, I couldn't put any overtime money into the Stang. When I refinanced, I only needed about 10K to finish it. This is how I did my entire drivetrain and suspension.

[BetterDays]

Okay, gotcha!

Makes more sense now....

[StangBoy]

Restoring a car is never a finincial investment, but more of a personal one.I have too much into the 86 to ever sell it. I love my car, and plan to be burried in it

same here

[Slick]

Thanks for the comments, all...

What I'm envisioning is a decent-quality, rolling resto-mod using as many off-the-shelf parts as possible. This car had been wrecked previously, so I can't see doing a full-on hardcore restoration. But it does give me some "creative license" if I want. I don't want anything off tha hook, just a nice cruiser that's kicked up a notch (~300-325 hp) but still smog-legal for Cali.

If I do this, it would be mostly outsourced. I'm ok on maintenance, but working inside the engine is not my strong suit. I'm in the process of renovating a house as well, so that's occupying most of my time. A second mortgage is not within the realm of possibility... I've already got one. Plus, I had the unfortunate pleasure of giving up an amazing house in Florida to move west and buy in at the peak of the market in Southern California last spring. I still wince when I think that I had to pay 4x more for a smaller, older house that needs tons of updating!

Anyway, have talked to an local racing engine builder, who said he'd go through everything (long block rebuild) for $2800... not bad, but he wants JUST the engine delivered to his shop- which means I have to go to another source to pull the engine & tranny. If I rebuild the existing, would like to swap out for some decent heads... the builder recommended AFR 165's. If I go crate engine, I thought I'd keep it simple (i.e. a GT-40P or similar). And while I've got the engine & tranny out, I'd at least like to get the engine compartment painted. As for the tranny... I thought I'd just drop in an Art Carr unless I find someone locally who could do a nice rebuild.

Chassis, brakes, & suspension, I can probaby handle myself... paint & body work could wait a while. So many options tho... had talked to Chicane Motorsports when I first bought it 4 years ago... they suggested just dropping in a stock '93 engine (which they had sitting in the shop) & converting to mass air. Am now wishing I would've taken him up on that!

c'est la vie!

[Evil86lx]

My friend Ash'aman is 20 year's old, has very little automotive experience, and with my help has done a whole bunch of mod's to his car.

T5 swap, bigger brake's, sway bar's, spring's, shock's strut's etc.

He (with my help) is rebuilding a 2.3t for his car. Brian has never done this before and he is doing 90% of the work himself.

My advice would be to hook up with someone that know's what they are doing and ask for a little help. Make sure that you do the work so that you gain the experience and so that you get the satisfaction of doing the work.

70% of the satisfaction in this hobby is doing the work, and then looking back and saying to yourself "look what I did".

The most important thing to remember is to have fun and enjoy the car.

kyle

[Capri50]

i've been in both places. I've had the capri for 14+ years, and cannot count the $$ spent in years of restoration and endless peformance mods. Does it feel great doing it yourself. sure, it's part of the hobby. but I wouldn't do it again. I just don't have that kind of time to commit these days.

On the flip side, I have long wanted an original condition 86 GT convertible. I searched for about 4 years and found just about every poor condition model this side of the east coast. I thought about resto's, and with work and family, it just isn't reasonable. I almost gave up, but found my new baby. Now I will finally get to spend time driving it, enjoying it, and keeping it 100% original. I bought it for much less than it would take to restore one.

if you don't have the time/money/patience to wait it all out, there is no shame in buying a 4 eye in decent shape. there are plenty of ways to enjoy these cars without spending countless dollars and time rebuilding them.

[v8only]

only dump that kind of cash into it if you are 100% hardcore about that exact car, and you don't have any problems at all with it. It def sounds like a good platform to start with.

I agree, though that you should find a good used drivetrain (cost you $1500 or less) throw that in, and drive the car on the weekends and have fun with it.

[Mustang Marty]

In restoring my McLaren, each thing that want to do to the car is broken into seperate tasks. Then I tackle each task one at a time and only factoring costs for that particular task. Yes, sometimes one can run into an unexpected cost (like when I found a hole in the floor caused by a improperly positioned floorjack) but things like that happen when working on 20yo+ cars.

The fastest way to scare me out of my project would be to try to figure out what the total cost of the project will be. I did that 12 years ago and ended up selling my 68 Mustang project for a loss when cost estimates exceeded $14,000.... the cost of a new 1993 Mustang GT at the time.

[qtrracer]

I have an 86 GT vert that has about 119K on it. I'm the second owner and had it about 15 years. I've upgraded the brakes to 93 cobra spec, put SFC, STB and G-load braces on it, as well as minor hipo stuff. It's starting to need some work (i.e., paint), and the driver's door is cancerous. I also have an '01 cobra vert. While the cobra is very fast and more technologically advanced than the 86, I love this car - can't explain it. Maybe its because I see the newer models everwhere and not many 4-eyes, let alone verts. I will put more money into the 86 over time than I will ever have in the cobra. I say, do your thing on the 86, and enjoy it as a driver - not an investment.