How to tell if you'll be in over your head

[OutlawStar]

I've been wanting a small pickup and project car just to tinker on and get my hands dirty on the weekend but I can't seem to find an inexpensive modern truck (Like a <$2000 barely running early 00's Ford Ranger) anywhere near me so maintaining my motorcycle will have to do for now.

I've also fallen in love with '54-'56 F100's. I have a pretty basic set of tools, and have no problem doing fairly easy stuff like brakes, oil, swapping parts etc. But I just know I'd be in way over my head even with a fairly decent rolling chassis like this one below. If this was listed for $5k I think I would have bought it by now. You can't learn without doing, but I have this overwhelming feeling I'd get $25,000 into the project and it still wouldn't be running or where I want it to be.

Anyone else run into dream cars, or projects and just know you simply should not buy it even though you've wanted it for years?

 

[ZX9RCAM]

Yes.
Truck, bikes, car.
Fortunately it has pretty much passed....

 

[Charlie]

I'd keep shopping around. Especially around small towns and farm country. I had a worn out '56 just like the one in the picture (in the mid '60s). I loved it. It had the biggest six cylinder motor I had ever seen!

 

[FireInTheWire]

Been there, done that. I didn't use my future vision when I dove off in my classic truck. Bought it when my youngest was 1 month. 55 f100 was the one, It had a 460ci. It had a stock front end and drum brakes.

It will consume your time and money. Fast forward to 3 kids later... I had to let it go. Life isn't of any value when you rather spend time working on an old truck then spending time with your children. I would have felt different if they were in their teens and could have joined in. But, I didn't have 12-15yrs to wait.

That truck is a good start. 9" rear and vic swap on the front. Not sure what everything else is like. I wouldn't give $8500. If everything else is buttoned up on it, I'd tell him $6500 cash in hand.

 

[OutlawStar]

yeah, its clearly just a rolling chassis that still needs a ton of work. Like pull the cab and bed off the frame and de-rust it. The probably send the body to a paint shop and let them fix it, then find an upholsterer to do a lot of the interior. It definitely needs a lot of work to be great, but I don't want a rusty primer hoopty. Agreed though; $8500 is too much even if he did do the front end well; if he was asking $6000 I would have probably sent an offer by now.

 

[toddnjoyce]

...Anyone else run into dream cars, or projects and just know you simply should not buy it even though you've wanted it for years?

BTDT. What you posted isn’t a tinker project, even if you got a crate power train to install.

As a project truck, I’d offer $2K for it assuming the 9” rear end is installed and not a “comes with” item.

 

[EZ-E]

It will take a lot of time & $$$ on any older vehicle to restore.

Those older Chevy & Fords have become very desirable & have driven up the prices. Have yall seen what a the short wheel base chevys have been going for?

Your going to drop 5-10k on a drive train at least... depending on what you want. Then the interior, electrical, paint, ect.
I like the parina look on those older vehicles... id leave the paint.

 

[OutlawStar]

Another project car that came up in my area was a husk of an el camino. guy wanted $6000 for it. Looked like it was driven off a cliff at one point but he thought his price was reasonable because he had a 427 engine with it that ran when pulled. I wouldn't mind an el camino type car, but holy moly are those popular and still rare.

 

[Axxe55]

I'd stick a decent small block Ford engine and transmission in it, with some really nice looking rims and tires, fix up the interior to be able to drive it, then leave it be. Instant rat rod! You can't duplicate that patina. And from the pictures I saw you posted, it looks pretty decent.

 

[Whistler]

Keep in mind, like guns, Harleys and boats, you will never be able to sell it for what you have in it unless you keep it basic and where's the fun in that?

 

[OutlawStar]

Yeah i'm not a fan of patina or rat rods. I'd likely put a modern Coyote 5.0 with either a twin turbo or roots/twinscrew supercharger with a manual trans (likely from a modern mustang). Also, I'd probably never sell it; I'm a little weird where that next thing I buy I really want to last until I die.

 

[oldag]

Spent years restoring (not to showroom) 60's muscle cars. Reached a stage in life where I did not have time to work on them all the time.

Was fun, maybe some day I will pick it up again. But I suspect I will not be willing to pay what sellers want for the classic muscle cars anymore.

 

[toddnjoyce]

Yeah i'm not a fan of patina or rat rods. I'd likely put a modern Coyote 5.0 with either a twin turbo or roots/twinscrew supercharger with a manual trans (likely from a modern mustang). Also, I'd probably never sell it; I'm a little weird where that next thing I buy I really want to last until I die.

I can understand that. A resto-mod like you’re talking about with a lot of DIY is $20K+ in parts alone and a body-off job since it’s all new bushings and rubber. That assumes you can find a donor motor/trans that’s reasonably priced and someone that can work the computer to override all the stupid stuff that will keep it from running.

Otherwise a coyote crate motor ready for a megasquirt system is $15K.

 

[pronstar]

Otherwise a coyote crate motor ready for a megasquirt system is $15K.

Geez Ford sure is proud of those motors...a Hellcat crate engine is basically the same price

Sent from my iPhone using Tapatalk Pro

 

[EZ-E]

Spent years restoring (not to showroom) 60's muscle cars. Reached a stage in life where I did not have time to work on them all the time.

Was fun, maybe some day I will pick it up again. But I suspect I will not be willing to pay what sellers want for the classic muscle cars anymore.

I have seen several run through Barret Jackson over the years. The right place & right time you can pick one up already restored for what they have in it. Ive seen many roll through & should have got 60k+ & end up in the 40s-50's.

 

[OutlawStar]

Geez Ford sure is proud of those motors...a Hellcat crate engine is basically the same price

View attachment 213857


Sent from my iPhone using Tapatalk Pro

Just wait until you see the price of 5.2 alluminators

 

[oldag]

I have seen several run through Barret Jackson over the years. The right place & right time you can pick one up already restored for what they have in it. Ive seen many roll through & should have got 60k+ & end up in the 40s-50's.

You are right. There are occasionally some shocking deals at Barret auctions.

Must mostly still too rich for my blood these days.

 

[OutlawStar]

You are right. There are occasionally some shocking deals at Barret auctions.

Must mostly still too rich for my blood these days.

What you also don't see is Barret takes something like 15% of the selling price due to percentages and fees just to hold the car there.

 

[oldag]

What you also don't see is Barret takes something like 15% of the selling price due to percentages and fees just to hold the car there.

Got to get their chunk.

 

[toddnjoyce]

What you also don't see is Barret takes something like 15% of the selling price due to percentages and fees just to hold the car there.

Close. Sellers pay an entry fee and commission; for No Reserve lots, it’s 8%.

https://barrettjacksonvip.com/blog/how-to-sell-a-car-at-a-barrett-jackson-auction

The buyers premium is 10-12%, and is added to the hammer price.

https://www.barrett-jackson.com/pdf/bid/AutomobiliaAuctionTerms.pdf

On a $100k hammer price, Barrett collects $115K -$117k, sends the seller a check for $100K, and retains $10K-$12K in earnings.

One event last year grossed $131M for ~1800 no reserve lots. That event grossed about $24M to B-J.