How Much Money Does a Project Car Usually Take?

What if you loved a vehicle so much that you were willing to take it apart and put it back together with new and improved auto parts?

Project cars refer to vehicles that have been modified extensively to suit a driver’s standards. These cars are a labor of love, often personalized to the point that both their performance and their aesthetic exceed those of the original.

People do these custom builds for several reasons:

• to restore old vehicles to their former glory
• to upgrade vehicles by giving them new engines, exhausts, suspension systems, etc.
• to add new features to enhance the car’s interior and exterior look

The cost varies, but by how much? Let’s look into it and how you can stay within budget with your project car.

How Much Does a Project Car Cost?

First and foremost, it depends on how much of the work you can do yourself as opposed to hiring it done. A large portion of the cost of hiring certain elements of vehicle upgrades or renewal is the labor. If you do just about all the work yourself as a labor of love, it will take longer but you’ll save a LOT of money.

Of course, you’ll need to know how to do the work too or you might waste money on parts, paint, etc. and make a mess of the whole thing. It’s best to do the job yourself and take your time.

For example, if you know how to do the work, you could restore a 60s muscle car for probably $15,000. If you hire the work done, you could spend two to three times as much or more.

There’s no fixed cost when it comes to project cars. Some factors that affect the cost include:

• how much the base vehicle costs
• The shape the vehicle is in when you get it
• Parts availability for that make and model
• the extent of the upgrades and modifications you wish to do
• Parts, upgrades, and accessories needed for the project
• Labor costs (if you get services from auto shops)

More often than not, project cars take secondhand vehicles and upgrade them significantly. Typically, you can get your hands on a used car in good condition for around $10,000.

Combined with customization and labor costs, you can expect to spend roughly $16,000 on a project car — though this number can go higher depending on your mods and upgrades.

For some car enthusiasts, the cost of high-end project cars can even reach six figures.

What Makes Project Cars So Expensive?

Project cars are a pricy investment. Not only do you need to pay for new parts and accessories, but you also need to spend on labor costs and additional upgrades. And there are always elements of the upgrade you didn’t bargain for – things that are revealed in the process of doing the work.

Obtaining Parts

One of the biggest challenges when doing a custom car project is getting your hands on the components you need.

Modifications, big and small, involve replacing old parts with newer ones. They could be a more up-to-date version of the stock component or a performance upgrade — either way, they’ll be more expensive than a simple replacement.

Expect to spend $5,000 on simple modifications. Prices can increase to as high as $50,000 and beyond if you go for more extensive and high-quality upgrades.

Labor Costs

It’s not easy working on a project car. Even if you know how to remove and replace various components by yourself, there will be times when you’ll need a licensed mechanic to take over.

Expect to spend between $1,000 to $10,000 total on labor costs alone. This price varies depending on the complexity of modifications, how long the project takes, and the rates of the professional you hire.

Additional Upgrades

One of the biggest reasons any car enthusiast decides to work on a project car is to create a vehicle that is unique and personalized.

No project car is complete without new accessories, lighting systems, sound systems, and paint jobs. These upgrades boost both the functionality and the overall aesthetics of the vehicle.

Typically, additional upgrades cost between $500 and $5,000, depending on what you get for your project car.

Project Car Budgeting Tips

Because project cars can be exceptionally costly, it’s a good idea to learn how to allocate your budget properly. Track your expenses, make a priority list, do your research, and consider using secondhand parts to avoid spending too much too soon.

Track Your Expenses

One of the best ways to help you budget better is to keep a record of all your expenses.

You can use a spreadsheet to help you track how much you’ve spent on your project car and what you spent that money on. Note how much you expect to spend on other project-related expenses as well.

With a budget tracker, you can easily review the costs relative to the budget and make adjustments depending on whether or not you’re overspending.

Make a Priority List

Another way to help you budget is to determine your priorities with your project car. This means determining which modifications to focus on first, helping you take the process one step at a time.

It’s strongly recommended to work on your vehicle’s brakes and tires first. Upgrading the suspension is another system that’s best improved before doing modifications for power and performance.

Do Your Research

Before purchasing car components online for your project, do your research. Compare prices and stick to parts that are compatible with your vehicle.

It’s also a good idea to read reviews from customers to see if the parts work well. Remember that you’ll get what you pay for, and compromising quality for a cheaper price tag can do more harm than good for your project car.

Consider Secondhand Components

Though it’s important to avoid compromising quality for price, there’s no harm in looking for good deals here and there. This can mean getting secondhand auto parts at more affordable prices.

Just make sure that any used parts you purchase are still in good condition and are compatible with your vehicle before locking them in.