I recently purchased a 1969 Chevrolet Camaro restomod. This process was a long and often times frustrating one. I conducted a ton of research and spent a lot of time picking everyone’s brain. I spent more time traveling to classic car dealerships, car shows, and researching than anyone reading this would probably believe. This is A Complete Guide to Buying A Restomod – A Personal Journey.
The end result? Well, I learned a ton during this process and am over the moon with the results. So, I want to share what I learned/experienced and created a complete guide to buying a restomod – a personal journey, if you will, in hopes it may aid someone along in their process of buying a restomod.
What is a Restomod?
Restomods, in some form or another, have long been part of car culture and so has the question, what is a restomod? Like much of the auto industry, restomods have matured over the years. Instead of cobbling different original parts together, restomods take the restoration concept a step further by integrating after-market parts that simply weren’t available previously.
Harnessing this technology and modifying a beloved car so that it met my goals for speed, performance and safety made the end result in something truly special to behold and appreciate. So, if you’re thinking about buying a restomod, here is a complete guide to buying a restomod.
How Will You Use The Restomod?
This is the cornerstone of a decision to purchase a restomod. Are you wanting to take it on the car show circuit and secure some coveted prizes? Do you want a weekend driver to explore the local area? Do you want to modify it, own it for a bit and then sell it to recoup a profit?
My goals were mixed. Living in Michigan, I wanted to drive it at least 4-6 months out of the year as my everyday driver. However, I also want to attend car shows with it, for a few reasons. One is that I simply love classic car restomods and generally anyone who likes them. Another goal was to spend more time with my stepdad. We have long bonded over classic cars. And, I thought it would be a lot of fun to go to these shows together (he has a 46 dodge pickup).
Another Goal?
The last goal would be to ultimately sell the vehicle for more than I had into it. As a small business owner and entrepreneur at heart, I will likely get bored with the car at some point. So, if purchased correctly, I think it’s possible to own it, drive and enjoy it, and then sell it for more than it cost me. Time will tell on this one, and the jury is out. Most people, I’ve learned, lose a LOT of money on classic cars – even restomods.
A Complete Guide to Buying A Restomod – A Personal Journey – Where Did I Purchase The Restomod?
Next, in this complete guide to buying a restomod comes a difficult choice that I struggled with. How do you go about purchasing the restomod of your dreams? This is a much more complicated question than it appears at face value, so let’s examine the options;
Purchase a project vehicle
The best way to purchase a restomod is to purchase a used classic car that is a project vehicle. Specifically, what I mean by that is to find a project classic car for $8-15k. Then, you can restore and modify it the way you want. No sacrifices, no compromising, and no settling. It may take a while to build it the way you want but the end will certainly justify the means. Moreover, you can space out the cost to build it. You can wait a few years or as long as you deem appropriate.
The main reason I think this is the best approach is that I have seen so many people buy a restomod, which already costs quite a bit, and then they modify it. The total amount they spend is oftentimes more than what it would have cost for them to just do it themselves and do it right the first time.
The Journey
When starting my journey to buying a restomod, I was open to buying a 60’s Mustang or a first-generation Camaro. I was online looking for cars every day of the week. I had more useless conversations with people than I care to share. What did I find? Well, a bunch of stuff.
Facebook marketplace, online classifieds like Autotrader.com, and many other online options surprisingly had a lot of project vehicles. Some of the vehicles were close to where I live and others were across the entire country. Most people wanted too much for them and the time and cost it would take to go out and scour the country for one was discouraging.
Purchase a used restomod
Buying a used restomod seemed like a great approach. There are a plethora of used restomods around the country. The people selling them can be grouped as follows:
Auction Sites. Barret Jackson, Mecum, and a few other national brands sell restomods in an auction format. Sometimes they sell for less than a private seller and the open market. Other times, multiple bidders fall in love with a vehicle and compete to drive the price above the market.
I have been to these auctions and frankly, they intimidate me a bit. First of all, I am not wealthy enough to go toe to toe with just anyone to buy what I want. And, who knows what can happen in the heat of the moment, right? In all seriousness, I don’t think I’d bid a crazy amount to win but, just like many of you, I have pride so I ruled this option out, and quickly.
The Private Sellers
Private Sellers. I spoke with less than a hundred, but WAY more than 25 private sellers. And all I can say about this option is wow, there is a lot of emotion when dealing with a private seller of a restomod. They make sure to tell you how much they have into it and expect you to pay what they have into it with complete disregard for the market.
These private sellers have very strong opinions and sometimes that is in complete disregard for what basic research implies is correct. Some of the private sellers did all of the work themselves. Some of their friends helped build the restomod. Or, in other cases, world-class shops built the car for them. Regardless, it’s difficult to buy from a private seller. If you must, check out this article.
Dealerships
- Classic Car Dealerships. Classic car dealerships are not all created equal. The most reputable ones, I came to learn, had a brick-and-mortar operation as well as a very mature online presence. In fact, the multiple dealerships I spoke with, in excess of 10, as I am a thorough dude, all went about their business in a pretty straightforward and similar manner.
Classic Car dealerships all reported that 95%+ of their sales were online. Many of their clients were repeat buyers so trust was established and relationships were strong and long-term. People love buying and selling restomods so these dealerships, even in downturns of the economy, seem to survive and thrive. Though, I wasn’t in love with buying something sight unseen despite how confident they were in that approach.
A few differences were that some dealerships own their entire inventory and others only did consignment. What does this mean? Well, owning your own inventory means they either built the cars themselves to sell. Or, when someone traded a car in they resold it as their own. Whereas consignment meant they sold a car for the owner and collected a fee or commission on the sale.
The biggest difference, and what I respected the most, is the dealer who owned all of their inventory. This is rare and, in doing so, they provided a limited warranty. Basically, the concept is they have mechanics on staff, they’ve sorted through every car in their inventory, they fixed whatever they found (without having to get an owner to fix it on consignment) and they stand by the car with a limited warranty. - Online Classic Car Dealerships. Wow, everyone is selling classic car restomods online nowadays. However, right away I learned that if a dealership is only a virtual one then they aren’t really aren’t a dealership. They are more like online classified despite what they call themselves. Moreover, many of these so-called online dealerships were actually selling consignment cars from around the country. Cars they have never seen.
To my surprise, I would actually know more about the cars than they would when I called to ask them questions. I have no idea how these dealerships stay open but there are so many of them I guess it must work for some people. They participate in an online listing consortium and there is nothing wrong or illegal about it. Quite the contrary actually, it is just not my thing. I expect a salesman to know what they are selling, to have seen the vehicle, inspected it, sorted it out, etc… - Flippers. The most common way I came across what I call flippers is on eBay Motors. First of all, there are a ton of restomods online on this auction site. I spent more time on eBay than anywhere else in my search. I actually found the car of my dreams (1969 Camaro restomod) using eBay and won an auction which meant I put down a substantial deposit. The owner said he was selling it because his wife couldn’t handle it. Apparently, the car was too complicated to drive and too powerful. And, that they had had the vehicle for a few years.
Something about this bothered me, as it was automatic. Moreover, while it was a restomod, it had an LS engine in it and it wasn’t cammed up or anything so what exactly was hard to handle? The modifications were amazing and it should have been quite easy to drive. Realistically speaking, it was a modern car in nearly every way (engine, suspension, brakes, transmission, interior, wheels, tires, etc…). After doing some research, I learned he purchased the vehicle from Barrett Jackson and was trying to make about $10,000 profit off it – or flip it. Fair enough, nothing wrong with paying a finders fee and I would have been happy to do so. I was still buying it right after all.
However, since he lied to me about how long he owned the car, and why he was selling it, how could I trust that the car was actually in good condition? Did he buy it and realize there were major problems and wanted to pass those on to me? Probably not and I am not one to be paranoid but, I decided to pass. He lied and I couldn’t quite get over it when the truth would have been so easy and understandable.
A Complete Guide to Buying A Restomod – A Personal Journey – Purchase a professionally built restomod
What is a restomod again? A restomod is a classic car that has been restored and modified. Well, that seems easy enough, right? However, if you have done any research on restomods you will quickly learn there is an unlimited amount of modifications that can be made to a car. Not to mention, the type and quality of restoration performed on it mean everything and will vary dramatically from shop to shop.
Restoration
Let’s start with restoration. Generally speaking, there are two types of restoration as follows:
- Frame On – The restorer will redo the body, paint, motor, interior, and trunk. In most cases, only the parts that need attention will be replaced.
- Frame Off – The restorer will take the entire body off the car and examine the frame and all parts will be re-conditioned – or replaced – and repainted. A frame-off restoration is fairly easy to tell as most parts will be freshly painted or powder coated.
Not all body shops are created equal. So, if you are trying to buy a restomod it makes a difference in what body shop did the work.
Modifications
Now, let’s tackle the other part of a restomod, the modifications. The amount and quality of modifications to a restomod border on infinity. There are just an enormous amount of options in the marketplace. Just a decision like which LS engine should I look for in a 1969 Camaro probably caused me to spend 40 hours researching it. Let alone, the suspension, brakes, chassis, electronics, the list goes on.
So, the easiest way to address this is just to let the experts do what they do and buy a professionally built restomod, right? That’s definitely what I thought going into it. However, I aggressively spent the better part of two months exploring this option. What I learned is as follows:
- A professionally built restomod is usually passed along from shop to shop until it’s a finished product. For example, some shops only do bodywork, and then they forward the restomod to a fabrication specialist, who then forwards it to an engine shop, who then forwards it to a painter, etc…
Nothing wrong with this but it’s kind of a cobbled-up process and you’re not sure whom to speak with about anything. Moreover, in many cases, these providers are out of state so how does someone take care of an interior issue when they live two states away? Whom do you hold accountable? - The other, most obvious way to buy a restomod, is just to buy one from one of the country’s high-end shops. You know the kind, the ones you see build the cars for auctions and in SEMA, Autorama, etc… This definitely is a great way to go about it and these cars are readily available, often for a fraction of the cost to build. Regrettably, my budget in no way shape, or form would allow for this option. I had champagne taste and a beer budget.
A Complete Guide to Buying A Restomod – A Personal Journey – How did I purchase it?
So, did I follow my own instructions outlined in this complete guide to buying a restomod? Short answer, no. I bought a used 1969 Chevrolet Camaro restomod from a classic car dealership with a large national brick-and-mortar operation and a strong online presence. Worse yet, it was a consignment vehicle! However, I choose it because it could be acquired for less than 50% of what the owner had into it. And, equally, as important, I couldn’t find a project car and build it as good as this one for less money.
Another consideration is this, even with an unlimited budget (which I didn’t have) he put everything in it I would have wanted. What does it mean, “everything I wanted?” Well, I love the LS7 engine and the Tremec Magnum 6-speed manual transmission. And, I love Detroit speed products and everything else he put in it. So, all of the parts were ideal and it was done correctly. The exterior color was good though I plan on changing that. The paintwork is small show worthy but not elite so it will get me through this summer and then I will repaint it and gap it correctly.
A Complete Guide to Buying A Restomod – A Personal Journey Cont’d
Not surprisingly, the company that previously built the car did outsource a few components (the interior mostly). I will tune the Camaro after we make a few modifications. It has a Mast Motorsports LS7 427 SS engine in it and it’s cammed up and puts out about 650 horsepower. And, I am going to add an aftermarket audio system, backup camera, GPS, and a new console. In addition, there is an old flow master exhaust which would be crazy to drive down the highway. So, I am having a Magnaflow exhaust installed and they are cutting in dual-tip exhaust pipes.
Why didn’t I take my own advice?
Ultimately, I didn’t take my own advice included in the guide to buying a restomod. Clearly, I claim the best route to take is to buy a project car and then restore and modify it. However, I don’t regret the decision, and here are my reasons as follows (perhaps you can relate):
- Instant Gratification. Frankly, I lacked the patience to continue conducting the search. I had spent so much time on it that the search was beginning to feel like a part-time job. Moreover, the endless enthusiasm I initially had was starting to wane.
- Life is Short. I couldn’t wait 12-18 months to see the project through. I’ve worked hard my whole life and I didn’t want to wait. Why put off a fun summer for one 18-24 months in advance (do restomod projects really finish on time or within budget)?
- Investment. My total, all-in costs, with this vehicle, are going to give me the ability to accomplish all of my goals. Now, I ended up spending about 6 months researching this vehicle. But, it was still less than waiting the 12-18 months I was quoted to build it. And, again, we know it probably would have been 18-24 months anyway. And, the final product will be an even better investment grade vehicle and the future looks bright for elite restomods like this one.
Financing Options
I finally knew what I wanted to purchase and plan on paying for it with some money out of my family’s nest egg. I had permission from my spouse, and we could afford to buy a vehicle using personal funds. However, as the dealers told me, interest rates were extremely low, and there were some very powerful loan terms for restomods that I hadn’t even considered.
I ended up financing the vehicle with Woodside Credit and you can read more about that experience by clicking here. Not everyone can buy a restomod without financing. I may be older than a lot of buyers so I have saved good and well for such a purchase. Regardless, financing is an important consideration which is why its included in the guide to buying a restomod
Insurance Considerations
Now that I had purchased the restomod, and determined how to pay for it, it needed to be insured. I will go through the details of that process in a future post and link this article. Suffice it to say, buying insurance for a restomod is considerably different than buying insurance for a more conventional vehicle. This is true even if the relative cost of the vehicles is the same.
After interviewing five insurance companies, I ended up going with Haggerty insurance. They specialize in classic car insurance and had the very best program. Haggerty insurance is well known throughout the country. Moreover, they are a Northern Michigan company, which is where I am from and currently live. Haggerty is just an outstanding member of the Traverse City community and treats its employees well.
Storage Considerations
Winter storage is an issue living in the Midwest so I included it in the guide to buying a restomod. Keep in mind, that I have owned classic cars and other high-performance type cars that can’t be driven year-round. So storage is a concept I am knowledgeable about. In fact, you can read an article with some great winterizing tips I wrote about that focuses on winterizing classic car restomods by clicking here.
I own a small business and a few pole barns so storage really wasn’t much of personal consideration. However, the cost to store a restomod can be more than what people may anticipate. Other considerations include heated vs cold storage, access to the storage, and if you will run the vehicle while it’s being stored. Again, the article about winterizing goes in-depth on the subject. However, storage should be considered before you buy a restomod.
Transportation Considerations
Transportation considerations come in two different forms. Where you buy the restomod, and the time of year you buy it, are important considerations. In addition, you’ll need to determine if you want to drive it to and from the shows.
I bought the restomod in the winter and it was approximately 20 hours away from where I lived. Buying it in the winter was strategic on my part as most sellers don’t want to carry the costs through the winter. Moreover, the likelihood of selling in the winter isn’t as strong as in the spring and especially in the summer. So, I was able to negotiate a fair price. However, I had to figure out a way to get the vehicle home as I couldn’t drive it back in the winter.
Goals
As previously mentioned, one of my goals in purchasing the vehicle was to spend time with my stepfather. And, that includes going to car shows. Admittedly, I don’t necessarily like the idea of a car is a “trailer queen.” Though, I am considering using a trailer to transport the vehicle. The reason is that some of the shows are out of town. And, surprisingly not always in the best parts of Michigan – Hello Woodward Cruise and other shows in Detroit!
Suffice it to say, transportation is still a work in progress personally but is still something you want to consider. I will write about this in the future and link this article to it.
Local Service Considerations
The last consideration in this guide to buying a restomod is an important one. As I am not a mechanic, and a pretty busy small busy owner and parent, I was concerned about who can help me maintain the vehicle. Believe it or not, I actually leverage the help of a company three hours away from where I live. Why, aren’t there any good shops in Northern Michigan? Well, yes, I assume there are but I haven’t actually worked with any of them.
I work with Elite Restomods out of Boyne City, Michigan. They have been in business for more than 15 years. They have an impeccable track record and a lot of respect in the classic car industry. ESPECIALLY when it comes to restomods. In fact, when I spoke to private sellers and dealerships alike, their names came up quite a bit.
Knowing I can trust and rely on All Speed Customs gave me the confidence to buy an investment-grade restomod. Taking the time to make sure you have a local resource is an important consideration. Unless you can do the work yourself I suppose.
Parting Thoughts
I truly hope this guide to buying a restomod, and my personal journey along the way are helpful. Admittedly, I wasn’t 100% comfortable sharing all that I did but decided to throw caution to the wind with the hope you find it useful.
