ausmini
https://www.ausmini.com/forums/

Cost Query
https://www.ausmini.com/forums/viewtopic.php?f=2&t=86875		 Page 1 of 1
Author:  miscg [ Thu Aug 14, 2014 5:38 pm ]
Post subject:  Cost Query
Hi just wanted to get a rough idea of what everyone is spending on their minis. I am slowly restoring mine and of course the costs are adding up. Where do u draw the line and if I'm spending the $$$ I'm starting to feel maybe a cooper S would have been a future choice, due to resale value in the later years. Mine is a 1971 mini k, the last of the round nose.
Author:  jpodge [ Thu Aug 14, 2014 6:07 pm ]
Post subject:  Re: Cost Query
There's not really a definitive answer to a question like this. Normally the projects will be slow so there's never really massively huge lump sums of money going in to it at any given time. Whilst restoring any car is never a particularly cheap thing to do, mini's are definitely on the cheaper end of the spectrum. However, I'm not entirely sure how well the perfectly restored minis sell. Whilst an immaculate cooper s may be over the 30 grand mark for a variety of reasons, it is often hard to sell as most people who are into minis will opt to restore it themselves or have it as a project. At the end of the day, when selling a car, it's only worth what people are willing to spend at the time. Who knows though? All this migh change in the future.
Author:  peterb [ Thu Aug 14, 2014 6:16 pm ]
Post subject:  Re: Cost Query
What I do is finish it off completely and add up all the costs, if it totals $9,999, then I decide not to go over $10,000.
Author:  womble99 [ Thu Aug 14, 2014 6:38 pm ]
Post subject:  Re: Cost Query
I think you should spend as much as you think the missus won't notice 8)
Author:  Mick [ Thu Aug 14, 2014 7:13 pm ]
Post subject:  Re: Cost Query
The cost for parts is for the most part nearly the same for a Cooper S as it is for a 1100. This excludes the big items, like a bloc for example, but does include things like bearings, paint, brake pads, valves. The price only differs by a few dollars from small bore to big bore. Aren't minis great? :lol: We are very lucky in that respect.

The best way to save money is to do the work yourself. It can all be done with very few exceptions with hand tools and a bit of leverage at times. If you are paying to put a 70 dollar water pump on, then there will be 90 dollars in labour for the hour it takes to put it on. This is where the costs of keeping a mini are halved.

I think the K and Deluxe prices are quite good, and will get better. They're still great cars, and can be fitted with all the trappings of a Cooper S and still look standard more or less. I think they will remain a good investment as solid cars with great histories. I think spending money on keeping the car neat, clean and reliable is good money well spent.
Author:  69k1100 [ Thu Aug 14, 2014 7:24 pm ]
Post subject:  Re: Cost Query
Don't forget the K's are a super deluxe of sorts. We were the first to get the 1100cc motor in a mini, wind up windows, the coveted quarter vent windows, rear opening windows, including the remote shift and the first four speed syncro gearbox. Wrapped in what was essentially a mk1 shell.

Compared to UK minis they are rare and unique with all the good stuff as standard. Don't blow too much but don't fret about value either, plenty of people want them you just have to wait for the dollar value to reflect this.
Author:  Mick [ Thu Aug 14, 2014 7:27 pm ]
Post subject:  Re: Cost Query
69k1100 wrote:
Don't forget the K's are a super deluxe of sorts. We were the first to get the 1100cc motor in a mini, wind up windows, the coveted quarter vent windows, rear opening windows, including the remote shift and the first four speed syncro gearbox. Wrapped in what was essentially a mk1 shell.



The Ozzie Deluxe also had the wind up windows as well. But the 1100 is still a good thing.
Author:  WasabiPimpNinja [ Fri Aug 15, 2014 2:32 pm ]
Post subject:  Re: Cost Query
I think if you're looking to restore a car purely based on final resale value, a lot of the time it is not cost effective. I think I've only made money on maybe 2 cars out the dozen or so I've built (not all Minis). I recently finished restoring a 72 Clubman. Nothing special about it apart from the fact that I had it and I wanted to build something. Once all was said and done it currently sits insured and valued for half of what it cost to restore.

For me, it's not a problem. I love the car, it was built for my wedding so it holds a special place for me and my wife. Also I built it with my Dad over 2 years and that's quality time that both him and myself enjoyed. The majority of work was done by me and my Dad. We outsourced the things we weren't 100% confident with like interior and panel and paint which took up probably 50% of the budget. For me it was the hundreds of little things that eventually add up, like nuts/bolts/washers/bushes/clips/trim. Also a couple of style and mechanical changes were made mid way through the build which drove costs up too.

When I did ring Shannons after it was registered, I spoke to the insurance guy about market values, agreed values and I told him what I wanted to insure it for and what it cost. He was not surprised at all in the difference between the values and said a lot of people ring up trying to insure their cars for what they spent on them, not what they are worth. So I guess in that respect the cost/value thing is an issue, but I know I could buy a comparable Mini, quality wise not sentimental wise, for what it's insured for and that's enough for me.

Building cars is an experience. Whether it's a Mini, a GTHO, a Monaro or a motorbike, it's the build I enjoy. Sure it gets stressful and sometimes money is tight and there's quite often a lot of arguing (I even had several arguments with myself late at night in the shed), but if you really want something you'll make it work.

I guess it all comes back to one question. Can you afford to "lose" the money or is the money worth the experience? If the answer is yes, go nuts. If the answer is no, then you might have to reconsider or adjust your game plan.

Cheers,
Keels
Author:  timmy201 [ Fri Aug 15, 2014 2:59 pm ]
Post subject:  Re: Cost Query
I was lucky enough to inherit mine from family, which makes it irreplaceable.

Like most people, I can't afford $5-10,000 for a new engine. But I can afford to get a cheap engine that needs a rebuild, pull it apart myself, buy a rebuild kit in a few months time, take the block for a rebore a few months later, and buy little bits and pieces as I go along...

If you can plan ahead your vision and stick to it, you'll save a lot of money changing your mind!
Author:  drjbeam [ Fri Aug 15, 2014 3:34 pm ]
Post subject:  Re: Cost Query
after 4 years of just fixing what ever broke i spent about $5000 on mine and replaced every thing that needed replacing

Thats new suspension parts,new brakes parts ,new cooling system ,wheel bearings ,clutch ,all rubber mounts under neath ,engine mounts ,all ignition parts ,oil seals and other things

If i was to sell it id be asking 10-11 grand with reciepts
Author:  frednutz&co [ Fri Aug 15, 2014 6:22 pm ]
Post subject:  Re: Cost Query
I have a 65 panelvan bought as part of a package 2 cars and the van .
van sat for 2 years then I started rebuilt motor new wheels tyres
disk brakes new seats and bits and pieces .usual stuff :)
all up about $10,000
and has still to be painted
have cut rust replaced seats
but it is my long term project
because I had another one and sold it :(:(
won't be selling this one

also bought another one as a daily driver my daughters have one each
and building one for the one who must be obeyed
(she started it came with one ):):)
as an investment ?? there are better things as an enjoyable experience nothing better
(although some times you need you head read :):))
Author:  MINImal effort [ Fri Aug 15, 2014 8:12 pm ]
Post subject:  Re: Cost Query
One the guys in our club spent lots on a resto of a standard Clubman and sold it a few years later for what seemed low for what he spent...

His philosophy was :
Car was nothing special, so could do up to his own his ideas without ruining it's heritage and have a like new car.
He spent less than on a new Commodore.
Sold it for more than the same age Commodore had depreciated over the period he had it.
He had way more fun than if he'd bought a Commodore ...
Author:  Mick [ Fri Aug 15, 2014 9:01 pm ]
Post subject:  Re: Cost Query
MINImal effort wrote:
One the guys in our club spent lots on a resto of a standard Clubman and sold it a few years later for what seemed low for what he spent...

His philosophy was :
Car was nothing special, so could do up to his own his ideas without ruining it's heritage and have a like new car.
He spent less than on a new Commodore.
Sold it for more than the same age Commodore had depreciated over the period he had it.
He had way more fun than if he'd bought a Commodore ...



I know an ex-serviceman with that philosophy. He bought an E Type when the cost was somewhat comparable to a up spec commodore. Now they're worth a mint. He also has a Stag from a similar decision a few years later.
Author:  Mr Orange [ Sat Aug 16, 2014 9:38 am ]
Post subject:  Re: Cost Query
I stopped adding things up about a year ago, but would be guessing $6k in bodywork, $5k on engine and fittings, $2k on gauges and interior, plus about $3k on wheels and suspension. This on a fairly unremarkable Clubman van that admittedly only cost $2k five years back.

Having said that, the resale value is irrelevant if you never sell it, plus I dropped a similar a,ount on my last nee car over three years just in depreciation. And a Mini is a hell of a lot cheaper than anything else. My Valiant budget is at least twice that (though will have about eight times the horsepower).
Page 1 of 1 All times are UTC + 10 hours
Powered by phpBB® Forum Software © phpBB Group
http://www.phpbb.com/