Finding a classic car and falling in love is the easy part. The difficult and more time-consuming part of this journey is the restoration process. Before you go all in on this project, consider how much it costs to restore a car.
Some estimates are as high as $120,000, but several factors will play into the total price–one of which is experience. The more you know how to do it yourself, the lower the cost.
Costs to Consider in a Car Restoration
The cost of restoring a classic car can fluctuate wildly. The age of the car, its model, and, most importantly, its initial condition will help you generate a more accurate estimate of the total cost.
Here’s a general look at what you can expect for these different costs and some ballpark numbers to start the process.
| Cost Category | Description | Average Cost |
| Initial Car Purchase | Cost varies based on model, condition, and rarity. | $2,500 – $15,000 |
| Labor Costs | Restoration experts may charge a higher hourly rate | $85 – $225 per hour |
| Total Labor Hours | Depending on the restoration extent and initial condition of the car | 800-3,000 hours |
| Restoration Preparation | Includes disassembly and initial prep work | $800 – $20,000 |
| Metal Work and Body Fillers | Essential for structural integrity and appearance | ~$30 per hour, up to $20,000 total |
| Paint Job | Costs vary based on vehicle size, paint type, etc. | $500 – $20,000 |
| Engine and Transmission | Rebuilding or replacing key mechanical components | $2,500 – $4,000 for engine rebuild |
| Interior Restoration | Restoring or replacing internal components | $1,000 – $12,000 |
The Impact of Car Model and Availability on Costs
The make and model of your chosen classic car can significantly impact the restoration costs. The car’s rarity, current condition, and sentimental value can all add to the project’s final bill.
Vintage and limited-edition cars come with unique challenges—namely, lower part availability and higher replacement part costs. Remember: The harder a part is to find, the more it will cost. If you are on a tight budget, be careful about the model and age of the vehicle and do some research before getting started.
The Cost of Acquiring a Project Car
The project car acquisition costs typically range between $2,500 and $6,000. This lower initial price is sometimes what attracts new buyers.
You may find a bare chassis for as low as a few hundred dollars. In addition, some models in good condition are priced at $15,000 or more.
The condition of the car at the time of purchase is a key factor that dictates the future expenses of the restoration project. A car with minimal rust and damage can save you thousands of dollars in labor and replacement part costs.
Labor Costs
Restoration experts charge varying hourly rates, ranging from $85 to $225/hour, for an average of $125/hour.
These rates are influenced by the technician’s wage, which typically falls between $30 and $40 an hour (and is separate from the restoration expert’s wage). In addition, things like your location and even the technology the shot has access to will inform the costs.
While $125 an hour may not seem like it’s overpriced, you need to consider the restoration time needed. A mild cosmetic and mechanical overhaul typically requires 800-1,000 hours of labor.
More intensive frame-off restorations can demand 2,000-3,000 hours.
If you do the math on this one, you’ll see that you will be looking at tens of thousands of dollars in labor costs alone. Don’t forget that shops that specialize in classic cars may cost a little more, but they may operate more efficiently and be able to restore your car in a fraction of the time.
Restoration Preparation Costs
Restoration preparation costs can vary greatly, starting at around $800 for basic projects. If you’re aiming for showroom quality, costs can exceed $20,000.
But these numbers aren’t set in stone. The extent of rust and the need for specific component replacements will influence these costs. The restoration method will similarly dictate total costs (as well as the overall scope of the project).
But what are your options when it comes to restoration methods, and which of the two is more affordable?
- Frame-Off Restoration: This method is also known as “rotisserie restoration” and involves completely stripping down the vehicle. It’s more expensive but ensures high-quality results.
- Frame On Restoration: A less costly option that might not cover extensive work needed on the car’s underside or frame.
Metal Work and Body Fillers
Metalwork and body fillers will ensure that the car both looks and functions as it should. This process includes:
- Stripping
- Sanding
- Metal Manipulation
- Using Body Fillers to prepare for pain
Professional metalwork typically costs around $30 per hour. Depending on the car’s condition, some car owners have spent over $20,000 on metalwork and body fillers alone.
Rebuilding and Replacement of the Engine
In some cases, a car will need its engine restored or replaced.
The cost of a typical engine rebuild, including the cost of parts and labor, can range from approximately $2,500 to $4,000. Replacing the engine with a new or refurbished one typically starts at around $4,000.
Rebuilding is the way to go but you have to ensure the engine is one worth rebuilding.
Cost of Interior Restoration Projects
The cost for a full car interior restoration can vary widely, with general estimates ranging from $1,000 to $12,000.
For instance, reupholstering a car seat can range from approximately $250 to $750 per seat. The extent of damage and the materials used will impact this price.
Another area to keep in mind is the dashboard. On average, dashboard repair services cost around $2,000. Y
You’ll also have to look at carpet replacement, which can cost between $1000 and $2500.
Paint Job Costs
Car paint jobs can cost from a few hundred dollars to over $20,000. It all depends on whether you’re willing to settle for basic touch-ups or you want showroom-quality finishes.
The cost of a paint job is impacted by factors such as:
- Vehicle size
- Paint type
- Intended color
- Level of preparation and metal treatment
Calculating the Overall Restoration Costs: From Start to Finish
Considering all these factors, you are probably wondering, “How much does restoring a classic car cost in total?” The average classic car restoration project costs range from $40,000 to $120,000.
Although these numbers might seem overwhelming, remember that classic car restoration is a journey, not a race. Some people spend years working on the car, and it’s not just about the cost but also the process.
You are supposed to take the time to learn new skills, face and overcome challenges, and eventually take great pride in what the car offers.
Deciding If It’s Worth the Investment: Fun vs. Financials
You will have to make a decision about the financial aspects of restoring a car based on your preferences and current financial situation.
There is also the option to “rejuvenate” a car (a cheaper alternative to restoring a car), as the focus is on improving its appearance without undertaking a full restoration. This is a more financially viable option but won’t return as much financially. Even if you opt for a cheaper rejuvenation, you can still expect these costs to fall within the $20,000 to $40,000 range.
Summary
By the time you spend $40,000 or more on your classic car restoration, you’ll want to make sure you store it properly.
You need overhead protection or a fully enclosed storage option, especially considering these older cars are more prone to rust. Neighbor, a peer-to-peer car storage marketplace, helps you find storage for your restored car right in your neighborhood. In fact, it could even be in your neighbor’s garage. Pricing is about 50% of traditional storage, and you’ll know your car is safe and close to your home!
Frequently Asked Questions
Is It Worth Restoring a Classic Car?
It ultimately depends on whether you want financial return or personal enjoyment. While the resale value may not always be significant, the satisfaction from the process can make it worth the investment.
What Is the Most Expensive Part of Restoring a Car?
The most expensive components of restoring a car are typically the bodywork and labor costs. However, if there is significant rusting to repair, metal fabrication could be the biggest expense.
How Much Does It Cost to Revive a Car (On Average)?
Reviving a car typically costs between $20,000 and $40,000. Full restoration typically costs more than $40,000 and can even end up in the neighborhood of $120,000.
What Is the Average Cost to Restore a Muscle Car?
The average cost of restoring a muscle car typically ranges between $40,000 and $70,000.
How Long Does It Take to Restore a Car Fully?
Restoring a car typically takes 1000 to 1500 hours of labor, which may translate to about a year’s worth of work.
What Is the Hardest Part of Car Restoration?
The hardest part of car restoration is the metalwork. If the car has suffered significant damage and rust, the cutting, welding, and shaping can take quite a bit of time to get right. Note that car restoration prices are often considerably higher when extensive metal work is needed.
