Planning Your Project Car Restoration: A Realistic Budget Guide

"I'll just do a light restoration" — famous last words of every project car owner who later discovered their "minor refresh" had consumed years and tens of thousands of euros. Restoration scope creep is real, and the only defense is rigorous planning.

Understanding True Costs

The average classic car restoration costs €40,000-€80,000 when done to a high standard using professional services. DIY can reduce this significantly, but not as much as you'd think — parts still cost money, and your time has value even if you don't bill for it.

Crucially, restoration often costs more than the finished car's value. This is financially acceptable if you understand it upfront and are in it for the experience. It's devastating if you expected to break even.

Creating Your Budget Framework

Step 1: Define Your End Goal

Be specific. "Restored" means different things:

• Driver quality: Mechanically sound, presentable, but not show-perfect
• Show quality: Every detail correct, no compromises
• Concours: Better than factory, period-correct in every detail

Each level roughly doubles the cost of the previous one.

Step 2: Full Disassembly Assessment

You cannot accurately budget a restoration without fully disassembling the car first. Hidden rust, previous accident damage, and incorrect parts only reveal themselves once covers are removed.

Budget the disassembly phase separately: allow 40-60 hours for a typical project car, or €2,000-4,000 at shop rates.

Step 3: Categorize and Prioritize

Divide work into categories:

1. Safety critical: Brakes, steering, structural integrity, seatbelts
2. Mechanical function: Engine, transmission, suspension, electrical
3. Aesthetic: Paint, interior, chrome, trim
4. Perfectionism: Matching numbers, period details, showing class compliance

Phase your spending through these priorities. A driveable car with original paint is more satisfying than a stripped shell with a perfect engine sitting on a workbench.

Cost Categories in Detail

Metalwork and Body (30-40% of budget)

This is where restoration dreams die. Significant rust repair can consume your entire budget before you touch mechanical work.

• Floor pan replacement: €1,500-5,000
• Sill/rocker panel replacement: €1,000-3,000 per side
• Wheel arch repair: €500-1,500 per corner
• Full respray (quality work): €8,000-20,000

Mechanical Restoration (25-35% of budget)

• Engine rebuild: €3,000-10,000 depending on complexity
• Transmission rebuild: €1,500-4,000
• Complete brake system: €1,000-2,500
• Suspension refresh: €1,500-4,000
• Fuel system rebuild: €500-1,500

Interior (15-20% of budget)

• Full leather upholstery: €4,000-10,000
• Cloth upholstery: €2,000-5,000
• Carpet set: €300-800
• Headliner: €400-1,000
• Dashboard restoration: €1,000-3,000

Electrical (10-15% of budget)

• Complete rewire: €1,500-4,000
• Instrument cluster restoration: €500-2,000
• Lights and switches: €500-1,500

The 30% Rule

Whatever budget you calculate, add 30% for contingencies. This isn't pessimism — it's realism based on countless projects. You will find problems you didn't expect. Parts will cost more than quoted. Work will take longer than estimated.

Cost Control Strategies

Buy Smart

• Start with the best base car you can afford — cutting corners on purchase price costs more in restoration
• Complete cars cost less to restore than baskets of parts
• Rust-free examples from dry climates can save €10,000+ in metalwork

Source Parts Strategically

• New reproduction parts for wear items
• NOS (new old stock) for rare components
• Quality used parts from parting-out donors
• Club networks often know who has what

DIY Wisely

Good DIY candidates:

• Disassembly and reassembly
• Parts cleaning and minor restoration
• Interior installation
• Basic mechanical work

Leave to professionals:

• Structural metalwork (safety critical)
• Paint and bodywork (skill-intensive)
• Engine machining
• Upholstery (unless you're training for it)

Tracking and Adjusting

Keep detailed records of every expense. Spreadsheets work; dedicated apps work better. Review spending monthly against your plan. When overruns happen — and they will — decide consciously whether to accept them or adjust scope elsewhere.

The successful restoration is the one that gets finished. Scope control, realistic budgeting, and disciplined execution matter more than having unlimited funds.

When to Buy Restored Instead

Sometimes the math says: don't restore, buy finished. If restoration costs would exceed the value of a comparable restored example, consider:

• Buying someone else's completed project at fair market value
• Choosing a more common model where parts are affordable
• Accepting a lower restoration standard that matches your budget

There's no shame in the financial reality. The classic car hobby is about enjoyment — not bankruptcy.