Sure sounds great Joe but most people don't have 20k lying around to throw at something that will spend more time in the garage than being enjoyed on the road. I spent what I could afford wish I had 20k I'd have a lot nicer car. But I do have a nice driver that I can tinker with and make my own.
I completely understand, however, that is my point. You will spend the 20k either way, little here and there over 5-10 years while working on a project. Most will give up and sell for less than half what they have into it, others will keep on going and end up putting more into the car than it will ever be worth.
On the flip side, take a loan for 15-20k and buy something already done because there will always be stuff to do and tinker with and enjoy the hobby. I could never figure out why people will go buy a brand new car for 20, 30, 40, 50k and think nothing of it for a vehicle that will be worth less than half 2 years later. But they can't imagine taking a loan for 15k and buying a nice 79 Bandit TranAm for example and having a ton of fun with it and have it increase in value over the next several years.
The exception is this is the folks who have the knowledge to do the work themselves, shop/garage, extra room, tons of time and cash to follow through on a resto. That is my opinion for someone wanting to get into this hobby as in this person's situation. Simply an opinion/suggestion.
A perfect example is a friend of mine from Buffalo, NY. He has owned and COMPLETELY restored a 79 bandit car over the last 15 years. The car is simply gorgeous. Probably had 20k into it. He just sold it two months ago for 12k to a guy in NJ. I'd rather be the guy in NJ making a $150/mo payment on a loan for this car than the guy in Buffalo who litterally cries over his loss daily. I'll post a pic of the car later when we get back. You guys will not beleive this car!
