[DMCForum] Re: DeLorean Wanted

["Josh Porter" <joshp1986@xxxxxxxxx>]

Yeah Dave, You gotta admit, your car is one awsome car. The stropes 
are an inspiration for what I want to do in the future with my car.  
Josh
10989


DMCForum@xxxxxxxxxxxxxxx, "Dave Stragand" <dave.stragand@xxxx> wrote:
> An oldie but a goodie...
> 
> How (NOT) to Buy A Cheap DeLorean
> 
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> Created: 7/8/01
> Last updated: 
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> Author/source: Dave Stragand
> 
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> 
> Editor's note: This was a reply to a DML post by someone looking 
for a cheap ($6000) car to buy and "fix up". This topic comes up so 
often it seemed like a good idea to reproduce it here. 
> 
> Are you looking for a project car so you can get a D at a lower 
price?  If so, that's false logic.  It just doesn't work that way.  
In fact, it's exactly the opposite.  I'll explain:
>  
> An important bit of wisdom was imparted to me early on in auto 
restoration: "The difference between a $15,000 car and a $20,000 car 
is around $10,000." It's strange but true. You can almost always get 
a better deal (when all
> told) by buying a car that is great to begin with, than by fixing 
up one that needs work.  I'm at around $18,000 into my project, and 
I'm not done yet.  I'm almost positive the "Rule of 20" is going to 
apply in my case. The "Rule of 20", if you are unfamiliar with it, is 
Cost of DeLorean + Cost of parts and service = $20,000. That's about 
$5,000 more than a D in nice shape to begin with...
> 
> Now I, on the other hand, bought -my- car for the express purpose 
of fixing it up. The process itself is what I'm interested in, more 
than the end result. Will I have a $20,000 car if I spend $20,000 
restoring it? Most likely not. And to make financial matters worse, I 
will have invested a couple-thousand- hours of work to boot.
> 
> Sometimes though, the journey is better than the destination. 
My '58 Plymouth has around $27,000 invested in it, but is still only 
a $17,000 car. Where did the $10k go? It bought one heck of a lot of 
fun. A LOT of fun. And it's worth it, IF you can afford it.
> 
> I see a lot of posts asking for a cheap D, by someone who will 
finance. Originally, that's how I approached the original owner. I 
did pay him cash though when the deal was struck - I wanted to start 
with a clean slate. I do  remember what it was like to be young, and 
dreaming of that perfect car. You'll do nearly -anything- to get it. 
However, trust me on this one: DO NOT BUY A COLLECTOR CAR UNLESS YOU 
HAVE THE MONEY TO MAKE IT RUN AND KEEP IT RUNNING. Now it doesn't 
have to be perfect at first, but at least drivable. If you spend 
every cent buying a car that'll need tons more money before it's 
streetable, you will stress yourself to death. You'll start to see 
the car as an endless drain on your wallet, and it may be years 
before you ever get to drive it. Besides, it's a race against time. 
The longer it sits, the more it will need.  Eventually, you end up 
selling the car for less than you layed out, and you'll be depressed 
as well as carless. This is what my friends call the "Project Car 
Spiral". Avoid it.
> 
> I'm at a point in my life where I have most of the cash and time I 
need to responsibly restore a car. If you don't have enough of both 
to begin with, then you won't be happy when you get the car. It took 
me -12 years- to finally get my '58 Plymouth. It took -15 years- to 
get my D. If it's worth doing, it's worth waiting, and that advice 
works on a lot of levels.
> 
> Trust me. I've been there, and done that.  Even have the T-Shirt.  
=)
> 
> -Dave Stragand
> VIN #05927
> http://www.ProjectVixen.com
> 
> 
> 
> [Non-text portions of this message have been removed]

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