If you had asked me a few years ago How much did I spend to restore a classic car?, I would have given you a vague answer, like: “It depends on the car, the condition you find it in, and how much you want to invest in it.”
Today, after having gone through the roller coaster of emotions, unexpected expenses, and satisfaction that comes with restoring a classic, I can tell you with complete certainty: It costs more than you imagine and less than the experience is worth.
Let me tell you my story, with real numbers, headaches and moments of glory.
The madness begins: buying the car
It all started when I decided it was time to fulfill one of my biggest dreams: to have a 1967 Ford Mustang FastbackNot just any Mustang, not a modern replica… a real original.
After months of searching, I found one for sale at a price that made me wonder if it was a blessing or a trap: 8,500 €.
The announcement said: “Original engine, good structural condition, details to be fixed”.
Ah, how naive I was back then.
When I arrived to see him, I found a car covered in dust, with rust in all the most awkward places, and an engine that... well, existed, but didn't work. It looked like a classic, but it sounded like a coffee maker about to explode.
Still, my heart rules more than my mind, and I bought it. I signed the papers, paid cash, and before I knew it, I was towing my new old car home with a mixture of excitement and financial panic.
The first blow: the bodywork (or how I discovered that rust is my worst enemy)
The first thing I did was take the car to a body shop to assess the damage. The diagnosis was devastating:
- Side panels with perforating rust.
- Floor rotten in several sections.
- Door frames in poor condition.
“This is going to cost you at least 6,000 €"The sheet metal worker told me with a calmness that almost made me cry.
I paid, but I promised myself I would do everything else myself to save money.
(Spoiler: I didn't save anything.)
The engine: a sleeping beast (or dead, he wasn't sure yet)
When I bought the car, the salesman swore to me that the engine was the original 289 V8. Technically, he was right. But what he didn't tell me is that it wouldn't run even if I prayed.
I tried to revive it with a new battery and some mechanical magic, but all I managed was to get it to let out a dying roar before it died again.
I took the car to a mechanic who specializes in classic cars and the list of problems was long:
- Striped cylinders.
- Worn pistons.
- Camshaft with more play than an old bicycle.
“There is no cheap fix,” he told me. “You can rebuild the engine for 5,000 €, or buy a refurbished one by 3,500 €.”
Here I faced an existential dilemma. I wanted the car to retain its essence, so I opted to restore the original engine.
Result: 5,200 € Then my Mustang was breathing again.
Interior: the hell of upholstery
After spending more than 11,000 € between body and engine, I thought: “Well, the interior can’t be that expensive, right?”
How naive of me.
The original seats were torn, the dashboard had cracks, and the floor looked like it had survived a hurricane. I wanted to keep it as faithful to the original design as possible, so this is what I spent:
- Full upholstery: 3,500 €
- Dashboard repair: 1,200 €
- New carpets: 800 €
- Small details (buttons, knobs, emblems, etc.): 600 €
Total: 6,100 € inside.
Brakes, suspension and other details (money keeps disappearing)
The car looked good. The engine roared. But it wouldn't brake.
I decided that, for safety (and to avoid future heart attacks), it was best to upgrade the brakes to discs on all four wheels.
- Conversion to disc brakes: 3,500 €
- New suspension to prevent the car from feeling like a ship in a storm: 2,200 €
- Electrical system review and replacement: 2,000 €
Total: 7,700 €
Painting: the icing on the cake (and the debt)
Finally, we reached the final stage. I wanted the car to have a flawless finish, with the iconic color Highland Green, like Steve McQueen's Mustang in Bullitt.
A good painting isn't cheap, and since I was already up to my neck in expenses, I decided to go for the best.
- Professional preparation and painting: 9,000 €
When they delivered the car to me, I couldn't believe it. It was beautiful, perfect, a dream come true.
The grand total (and was it worth it?)
Let's add it all up:
- Buying the car: 8,500 €
- Bodywork restoration: 6,000 €
- Engine restoration: 5,200 €
- Inside: 6,100 €
- Brakes, suspension and electricity: 7,700 €
- Paint: 9,000 €
Total: €42,500
Yes, I spent more than 40,000 euros restoring a car that I initially paid for less than 10,000 €.
But… was it worth it?
Let me put it this way: the first time I fired it up and heard that V8 roar, I knew every penny had been worth it. When I took it out on the road and saw the admiring glances, I knew I hadn't just restored a car, but a piece of history.
So yes. It was expensive, exhausting, and sometimes frustrating… but I would do it again in a heartbeat.
And if you're thinking about restoring a classic, my advice is: Do it with passion, patience, and a good savings plan.
+My process for recovering the original paint of a classic
Passionate about classic cars for as long as he can remember, Javier Montoro has dedicated his life to the search, restoration, and preservation of true gems on wheels. With years of experience purchasing, restoring, and maintaining vintage vehicles, he shares his knowledge, stories, and lessons learned on this blog.