A wise managerial consultant once said, "Don't try to motivate people, hire motivated people." He didn't stop there. He also went on to say, with regards to old cars, "Don't buy a car that needs restoration, buy a car that's already restored". His point being, with regards to cars, it will cost you much less in the long run to have someone else pay for all the restoration work than paying for it yourself. I don't think his quote about hiring motivated people needs any further clarification.
This somewhat interesting and at the same time bland, 1971 Ford Torino is for sale with an asking price of $5995. Sheesh. These days, even the cost of entry for a cheap car that needs a lot of work is expensive. And we're talking a Ford Torino here, it's not even a Mustang. Let's start this exercise saying you get this thing for $5000. Feeling good about your negotiating skills?
Let's pop the hood. Tough to eyeball what that is in there but judging by the size of the block and those huge valve covers, that could be a "351". Or started life as such. That rusted, old, after market air cleaner, MSD ignition and other miscellaneous after market "go fast" parts tell me this car was "hot rodded" years ago. I'd restore this engine back to factory specs with a comprehensive rebuild. Figure $3500.
The body appears to be in good shape. The paint seems fresh. Someone saved you at least another $3000 in body work. Hope you like the color. These b-t-s rims have to go. Nice set of factory fresh NOS Ford rims will set you back a solid $2,000. That's probably including tires too. These tires are relatively cheap compared with today's low profile, super high performance monsters. How much we up to already?
These interior door panels are clean. You'll save around $500 not having to replace these. Just as well since these would be impossible to find. If you're curious, that says, "Brougham".
Things get interesting in here. The 1970 and 1971 Ford Torino is not exactly a "catalog car" like a Corvette, Camaro, Firebird and many other GM cars so period correct parts, particularly interior parts, will be hard to find. A good upholstery guy will run you for at least $2000 to repad and reskin these seats. And then they're not going to be "factory correct" either. Matters to me, might not matter to you. How much we out now?
Get rid of this. Don't argue. Just do it. $300 for a NOS (new old stock) steering wheel. Hope to god the wiring works for the horn. If not, add at least another 200 to rewire.
More evidence this car has been beaten to death. This shifter is after market since with bench seats the transmission shifter would have been on the steering column. If this car had a factory, floor mounted transmission shifter, the front seats would've been buckets and the shifter would've been housed in a console. If you can't do the work yourself, converting this car back to a column shift would set you back at least $2000. And what is with these mats? Look at all those wires hanging out of the dash too. You sure you want to do this? Fresh carpets will run you $750 installed.
Not only is this after market tach blocking your view of the speed-o-meter, it looks to me like it's not even going to work right. This car is not running, obviously. Or perhaps the engine seized at 7200 rpm? Yank all this cheap speed shop junk and rewire the whole car. Harnesses and labor are going to run $2500.
Saving grace is the body on this car looks good. Let's hope the frame is solid. This car is an Iowa car so you can't be too sure. We haven't discussed brakes, steering or suspension but judging by everything else, let's throw down at least another $3000.
We've crossed the $20,000 mark and we're still not done. If this car has air conditioning, it probably needs rebuilding at at least $2,500. And, sorry...I left out a transmission rebuild and the rear end too. At least another $2,500 right there.
My crude math skills have us coming in at around $27,000 all in to make this Ford Torino everything it could be. Compared to what new or gently used cars go for these days that might seem like money well spent but only if you're going to use this car as a daily driver. Which is a cool, but...with gas at $3.50 a gallon and that freshly rebuilt 351 getting maybe 11 mpg, I hope your commute is a short one.
In the end, if you must have a this car or any car and you can't find one in better shape, carefully consider your return on investment. Unless you've got money to burn this car makes absolutely no sense. While it's tough to determine what this car would go for if it was in prime condition, it is safe to say that it wouldn't be selling for anywhere near 27 grand. At best, honestly, half that. At worst, a third. And at about $9,000, this car might make sense.
Remember, don't try to motivate people; hire motivated people.
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