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I'm looking a few now but need to get a sense check.
I think I can get one on the road for 7k with the following - 2dr mk1, mkII GTI engine, MKII GTi Brakes, and coil over suspension, good interior and paint.
But, what's the market value of that car, am I putting too much into it? I need to make sure the numbers add up and the car makes sense.
sorry if it's a silly thing to ask but I've done a few projects and money can disappear and you can over capitalise quickly and throw money away and I'm not keen to do that
If your worried about over capitalising in a Mk1 Golf then you are really under appreciating the cost to build these cars. Devaluing AUD and inflating prices of parts at present doesnt help.
Decent paint job will give you no change of $5K unless your a car body specialist so that will likely blow you out of your budget for a start.
Sorry to be blunt buddy but you asked for a sense check .
7k is a great budget for a mk1, and the mods you want to achieve should be easily achievable for that money. The only difficult part will be the paint job, but you'll need to do it yourself to stay in budget. Most shops cost about 6k+ for a DOORS CLOSED respray.
Word of warning. Although prep and paint aren't all that difficult, you need some serious motion to complete a paint job. After 30 hours of sanding, it's pretty easy to just half ass the rest. Do it once and do it right.
Engine, brakes, interior are all fairly easy and cheap to get.
Although you'll never see the 7k again (resale will be about 4 - 5k), when do you ever make money on a car restoration? At least the depreciation on a mk1 will never equate the the money you'd lose buying a new car!
MK1 prices in England have been rising for a few years and a good one over there is getting expensive. I'm surprised they haven't started buying our cars to ship back. It will happen one day which will turn your $7K project into a viable long term proposal.
It won't happen overnight but if you're willing to hold on to the car for a few years you should see a profit depending how well you restore your (new) car.
The biggest pitfall is spending a lot of money modifying a MK1 that no-one else wants or can use. Alex G built one of the best MK1's in the world and ended up selling it for $12k but it can't be registered. Another one cost it's builder $80k and sold for mid 20's.
Be sensible, do your research and ask lots of questions. That's what this forum is for.
Cheers
Paul
PS. My 2 door MK1 cost me $2800 with a blown 16v but lots of good gear (Recaros, twin Dellorto's, good coilovers, resprayed engine bay, big brakes, 5 speed, 2 piece wheels, sports exhaust etc). A donor Seat Cupra with 2.0 16v cost me $800 and with a lot of work I should have a 170hp MK1 on the road by this time next year. It needs a respray and I'll tackle that with the help of a few mates to keep costs down but for less than $5k I should have one nice MK1 to play with.
Also remember you are in Perth, it becomes a factor when you can't find what you want/need locally.
Byrons brown car would only need your desired engine, breaks and coils if you don't want to do a full strip down rebuild.
Pete
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