Cost of Restoration

[chevy71super]

There has been much discussion on the board lately about cost of paint and body work and what the best truck is to restore. I decided this was a good opportunity to sit down and figure out what it will cost to restore, with some modification, my 72 SB 4 wheel drive.

I learned a lot restoring my first truck but the biggest lesson was it cost me twice as much as I originally figured. One of many of my character flaws is trying to get something perfect or as close to perfect as I can. This drove up the cost on my first restoration. I basically ended up replacing or reconditioning everything. The second lesson is the more customization you do the higher the cost. Adding chrome accessories, stereo, etc. cost money. The third is the cost of paint and body work. My advise is to learn as much as you can and do as much as you can but in the end don't try and cut too many corners especially with paint. The results will show.

The following estimates are my own. Any costs you incurr restoring your truck will depend upon how much work you do and what you want to do with the truck afterwards. I am building a a truck I can show on the weekends, not built for work or 4 wheeling. (I have another truck in the wings for that.) It doesn't make much sense to spend a bunch of money on paint if you are going to work or play it hard.

I am starting with a Cheyenne Super 4X4 that cost me $8,000. Structurally it is in good shape, limited rust and it runs and drives alright but is in need of major attention. Basically it is in number 4 condition. I want to get it to 1 to 2 shape. I will perform all the sheetmetal replacement, basic bodywork, I will dismantal everything of the frame and rebuild it back together. Most of the costs I am estimating is just parts with the exception of paint and finish body work. With that in mind here are my estimates of the costs to restore:

Engine & Drivetrain:
Engine - 383 GM Crate - $3,500
Transmission Rebuild - $350 (turbo 350)
Transfercase - Seals $50
Frontend rebuild incl brakes - $200
Rearend rebuild inclu brakes - $200
New Gears (4:11) - $300
Drive shafts rebuild (both) - $300
AC rebuild $200
Total - $5,100

Body Exterior & Interior
Misc Metal Replacement Parts - $300
Grill Shell - $250
Bumpers - $250
Seat Covers/Carpet/Dash/ect. - $500
Seals - Doors & Windows - $200
Windshield - $150
Sound Deadening - $200
Sand Blasting - $500
Paint & Materials - $2,000
Paint & Prep Labor - 50 to 100 hrs @ $50 hr.
Total - $6,850 to $9,350

Frame & Suspension
Springs (4 spring lift) - $750
Shocks - $100
Paint & Prep Frame - $200
Exhaust - $200
Tires & Wheels - $1,250
Total - $2,500

Total Cost Excluding Truck - $14,450 to $16,950
Add 10% for misc items - $16,000 to $18,650
Cost Include Truck - $24,000 to $26,650

These estimates don't include things such as a stereo, chrome accessories, Jet Coatings, Powder Coatings, ect that I do not plan on doing. A person could easily add $4-5,000 to the price with mild customizing. If I were to add a big block the costs would go up even higher.

I am sure my actual cost will come in higher, it always does with these things. But whatever it costs you to restore your truck always plan that it will cost you a heck of a lot more than you ever imagined.
Doug

[old Rusty C10]

yeah doin it is never cheap im into mine for over $2500 and so far im using all used parts aint gotten into doin anything fancy yet

[truck69]

WOW!!! I just got my truck and wondered how I was going to come up with enought money just for the paint job. Like you said it pays to do what work you can and go from there. Good luck with your project.

Truck69

[RON WOODGEARD]

I have a habit of saving receipts.. I have had my 70 for 18 years.
I was seriously looking AT THE Ford Lightning, a couple of months ago.. I talked to the other half about the payments. She asked why I wanted another truck,?! My comment was it isn't just another truck. It is at this point in time, the epitome of Trucks. So she very calmly says, What's that in your garage?? Now I'm not a Dumb guy, I was understanding where she was going, I asked, what does that have to do with this????? Well, if you would stop and look at your receipts, you'd see there IS a new Ford Lightning sitting in your garage !! It just Appears to be a 1970 Chevy Pickup..

I have no Doubt,!!! In the last 18 years, I have put enough money in my old truck to buy that new Lightning... I quit looking at my receipts, when they said $23,000,00 Yea, I know, The Lightning is more then that,,,, But I said I quit looking at $23,000,00. My old truck, has NO PAINT, And there is a lot More that needs done, and there's more I want to do to it..

All I can say, This is labor of love !!! You have to be Crazy to build any old Vehicle from the ground up !! And when you're done it's still going to be an Old truck/Car..

[nitne]

Ouch that Hurts. I hope my wife never finds this board and reads any of this. I will be a deadman. LOL

[lewi]

Ron. I wife my tried to talk me into getting a newer truck rather than the embarrising piece a $hit I brought home, she hated it and couldn't imagine why I wanted it. Well a couple years later she likes driving ot to work on occasion and never complains when we head into town and i go towards the truck as our transportation. I have not totalled up what I've spent on the truck that only gets driven every couple weeks but I know its much more than i intended and wouldn't have it any other way.

[FRENCHBLUE72]

I have never kept track as I know I would wonder where all the money really went... Some part's that nickel and dime you end up costing the most...

[Gee_Emm]

One way of displacing costs is to keep your eyes open at the junkyard for desirable parts, sell them at a profit. I am keeping track of all of my expenses, buying and selling. It really doesnt matter to me how much it costs to build because I know that it will be significantly cheaper then buying a new vehicle and I will end up with something that no one else on the block has.

[tom hand]

The best possible way to keep the cost down is to start with the best possible truck...the better the truck is to start with, the less you have to do...I have less than 10 in mine

[Carl71]

You are right on, I have people ask me all the time how much I have in my truck. Tell them I don't keep track don't even wnat to know....

[RON WOODGEARD]

My wife doesn't mind the 70, It has actually become part of the family...My daughter was in a fender bender with it when she was 16, she's 32 now....And I had owned it for two or three years before that.
She NEVER complains how much money goes into it, and she has even bought it a few things now and then.. ( the windshield, and 320 H.P. crate engine)
It's just when I mentioned a new "TOY" She reminded me of the 70.. I guess, it's the "one Toy at a time thing" these women have.

But Please, Don't go into this Hobby or reserection, thinking it can be done cheap<<<< I think we all have done this, and it's just not going to happen. I have seen a lot of guys, young and older, start on a build up, or restoration, and after a couple of grand realize, they have gotten No-Where..


That's how mine started, I needed new shocks !!

Ron

[PanelDeland]

I just tell my wife,"Just think how much money we're saving by me not being in the bar 5 nights a week."

She replies"And our marriage!"

[gonebad2]

This is a great thread. I have restored several 67-72 Chevy's and GMC's in the past and have never really kept track of the total cost of a restoration. Well, I'm building a truck for my son right now(67 Short Fleet) and have kept track of the cost by creating a spread sheet and filing all receipts. In the past, my filing system was to toss the receipts in the glovebox and they would get thrown out when the car was cleaned. Excell really put things into perspective. I set the spreadsheet up to automatically add up all expenditures. Almost all of the labor was done by me and I just passed the $23,000 mark( I am by no means a "rich person"). The project is almost done with a few things left to buy. I estimate about another $3000 to $3500 to complete it. If I would'nt have documented this, I never would have guessed the cost to be that high. It's amazing how all of the little things add up. In the future,when I build a car or truck, I will also take the time to build a spread sheet documenting the cost involved. Three months after the project is done and you are proudly driving it, you don't think about the cost. Just enjoy it and have fun maintaining it. Everyone that has posted on this thread has brought up some excellent points and made great suggestions. Sadly enough, money is a factor when restoring/building a vehicle. But it's not on the top of my list or the reason I'm into this hobby.....And that's all it is after all, an outlet or escape from the daily routine of this $h*tty life.

[seacrow]

I am at just over $15,000 at this point. My truck was left to me by my late grandfather. He always wanted to restore a truck. the truck was in bad enough shape when i got it that I pretty much had to restore it or sell it. I wasn't about to sell it. It's almost ready to paint now and with other odds and ends, I'll end up around $17,000 I guess. My time with my grandfather in this truck was worth a lot more than that. So to me, it's not expensive, it's an honor. I am thankful that I can afford it.

[jay-dawg]

Dont' forget to add in the price of tools if this is your first buildup. I think I already spent a grand (including a roll away tool cabinet). I'm the first in my family to do such a thing, so I can't borrow anyone else's tools.

Jay

[krue]

I can think of a lot of ways to waste money, but at least working on my truck I can teach my boys how to use tools and basic mechanic skills, appreciation for a job done well, and a love for these cool old trucks. Some things are priceless.

[spencra]

I try to do as much work as I possibly can on my own. I also try to buy the best used parts possible which you can mostly get from people on this board or maybe even get a-hold of a donor truck at a junk yard of where ever. Of course doing everything yourself means buying all the proper tools, but hey, nothing wrong with that.

I just recently got a MIG welder with the whole setup plus welding mask for free. My step-father was selling his set-up for $150 barely used. I told him that I would buy it from him and he just gave it to me and refused to take the money. SWEET!!!!
I was like a little kid at Christmas. I was digging up whatever scrap metal that I could find just to play with it.

[casey]

I know first hand, how quick the $$$ add up, so unless you really like twisting wrenchs, buying a truck thats already restored is usually a bargin, especially if you don't have the means to do it yourself, i.e. tools, know how, place to do it, and money

[gunnersm8]

my theory is "its not the truck you pay for, its the piece of mind" without a garage and something to dick with regularly, im going crazy right now. those of you that are married know exactly what im talking about.

[1971 Cheyenne]

Originally posted by jay-dawg
Dont' forget to add in the price of tools if this is your first buildup. I think I already spent a grand (including a roll away tool cabinet). I'm the first in my family to do such a thing, so I can't borrow anyone else's tools.

Jay

yep!

I'm 15 and doing a ground-up restoration on my 71 LWB. I started last april, and have spent over 1500-2000 dollars JUST ON TOOLS!!! Air tools, sir compressor, nice set of sockets, combination wrenches, and I just ordered the stuff to build a sandblasting cabinet. It adds up quick. my next restoration will be much cheaper because of this.

I have over 5500 into my truck so far (not including tools), and I haven't even started putting it together. I do have a bedroom full of parts though

Oh, btw: before any of you guys get the idea that i'm a rich spoiled brat with more money that he knows what to do with. I have worked for every penny that has gone into this truck during the summer/weekends etc.

[chevy71super]

Great feedback. I began this post to open up my own eyes on the cost of restoring one of these trucks. A few points brought up by others go right along with my experience.

1. Start with the best truck you can afford, be especially aware of the condition of the body. Mechanicals are straight forward to fix and do not take as much expertise as body work does. Bodywork and paint generally costs more than replacing all the mechanicals.

2. Don't forget the cost of tools. I have found tools tend to pay for themselves considering the cost of having someone else do the work. My second restoration will be less expensive because I now have the tools.

3. Buying and swaping parts will save you money. Parts that may not suit your vehicle will work for others just fine.

4. Ask questions, ask questions, ask questions. Advice is generally given free of charge. Seek more than one opinion if at all possible.

5. Plan, plan, plan. Break the truck down into sections - engine, drivetrain, suspension, body, interior, etc. Know where you want to do with each section.

6. Buy parts as time and money permit. Once you get the majority of the parts you need then start the restoration. That way you can continue to drive and enjoy the truck until you are ready to tear it down.

7. Complete the truck the way YOU want it the first time. "Redo's" end up costing you twice as much.

Be realistic with your modifications. If you are going to stick in a 500 horse powerplant you will need to change the trans, rearend, suspension, brakes, tires, etc. to make it all work. A mildly modified vehicle is much cheaper to complete than an all out custom.

My wife and I have had many of the same discussions others are relating on this thread. I tell her if I were a sensible person I would go out and buy a one or two year old Silverado but what fun would that be? I do it because I like these trucks and the attention they bring. When I die my son can either enjoy them or sell them, that's up to him.
Doug