Avoid "Basket Cases" like the plague...

I talk to a lot of people that buy cars they think are a deal, and realize too late that their just money pits. Often they end up selling the car unfinished, at big financial loss. I don't care what it is-nothing is worth restoring from a basket case. Nothing. Because if it's a Hemi 'Cuda or a Boss 302 missing the Hemi or "Boss" engine and other major parts it's a bottomless money pit. 1st off-where are you going to find a Correct, complete, 1969 or 1970 vintage Boss 302 engine for sale, at any price? Chances are you won't. You could build  your own "Boss" using Edelbrock or Trick Flow heads and intake, but that's still not correct is it?  The same for the Hemi-where are you going to find a complete, running or at least rebuildable 426 Hemi engine with 1970 or 71 date codes, for sale, at any price? You could buy a Mopar Performance crate Hemi-but that's still not correct and numbers-matching is it?  Even if by some miracle you located a correct engine and all the other parts you needed to finish the car-I guarantee by the time it's done your dollar investment will be MORE than what you would have had to spend on a complete, correct already restored car!!  I've told this story before but it's worth re-visiting. A guy I know wanted a '70's Firebird for a hot rod. He looked at one that was $500. It was a straight body but that's it. I mean this was an engineless, transmissionless, radiatorless, gas tankless, interiorless hulk. We looked at another one that was $2,500. The body was straight, the paint was oxidized and it needed the front seats recovered, and the vinyl top needed to be removed or replaced. But it started right up,had good oil pressure, didn't smoke,ran good, the transmission shifted smoothly, the brakes were good, the suspension seemed tight. I told him to buy it. He starts talking about the $500 one being a better deal. UGH! "No, this one is the better deal". I said. I pointed out that by the time he chased down an engine and tranny, gas tank and radiator, brackets and hoses, and all the interior parts and trim pieces necessary to get the other one in drivable, registerable condition-which this one already was-he'd have a lot more than $2,500 invested. He came to his senses and agreed that even though the price was 5 times more than the other one, it was the better deal. All he'd need to make the car really nice is some paint and upholstery work, and if he wanted more power-there's tons of speed equipment available for a Pontiac V8. He was going to be way ahead of the game by just starting with a better car. This is not an isolated example. Another guy wanted a "Bullitt / Dukes of Hazzard" 68-70 Charger. He bought an engineless, transmissionless one for $600. He towed it home and when he put it up on a lift-he discovered it had major rust damage-it not only needed new fenders and 1/4 panels and a trunk floor-the floorboards in the interior were practically gone. The guy from the body shop said-it would be so costly to fix that he'd be better off just getting another car. He did find another car-with a running 383, a straight body and good interior, that only needed a trunk floor for $4,000. I told him to buy it. Again-even though the price was nearly 7 times higher-it was a much better deal. Beware of cars missing things besides the engine and tranny. Say you find a not-running 409 Impala or a '64 GTO for a screaming price. The owner says he'll "throw in" a date correct engine. Great! except this "engine" turns out to be a block and heads. An engine is much more than block and heads. Where are you going to find the alternator brackets,power steering pump brackets,belt pulleys, oil pan,timing cover, valve covers,water pump,distributor, fuel pump,exhaust manfolds, intake manifold, etc-for a 1964 409 Chevy or 389 Pontiac? Yes, all that stuff is available through the aftermarket, but you'll have to chase it down or mail-order it or order it online, and it adds up-expenses you didn't plan on. I know a guy who bought a '63 Gran Prix. He didn't like the "Slim Jim" hydro matic trans. They won't shift above about half-throttle. And no one makes a shift kit or valve body for them. He decides to "drop" in a TH400. He can even use the stock shifter in the console-it has the same number of detents-he just has to remember that reverse is now low. Except now he's perplexed-there's no place to mount the starter! Huh? That's right- Pontiacs up until 1963 had the starter mounted on the bellhousing. 1964 and later models had the starter mounted on the engine block! Since the TH400 was introduced in 1965-the bellhousing had no place to mount the starter. Luckily for him-1963 blocks had the pad machined on the block to mount the starter in anticipation of the changeover. All he had to do was have the pad drilled and tapped, and he could use the '64 and later starter, and modern TH400 trans. However-if the car had been a '62 or older model-he'd have been really screwed-the older blocks don't have the machined pad. He'd either have to keep the crappy trans, or get a later model engine to be compatible with the modern trans. The point I'm making is go ahead and restore anything you want-but there has to be something there to restore!  A couple of good examples-a guy bought a '77 T/A that was missing the T-Top panels. He had a hell of a time chasing those down. Because some '76-77 models had Hurst T-Tops, and some '77-78 models had Fisher T-Tops, and their different. And there's no list of VIN numbers or production dates or anything to help you narrow it down. He finally did find some that fit, but it was a bitch and took literally months of searching. Another guy wanted to restore a '64 Cadillac Convertible like Phillip Micheal Thomas drove on "Miami Vice". Except the top was missing. Not just the canvas-all of it-the frame, the folding pieces that hold it up, the electric motor. He had a hell of a time chasing that stuff down. Like I said in an earlier post-if it was a '68 Chevelle-no problem. But a '64 Caddy-sorry Charlie. Just remember that anything missing major components is not a "deal". I know a guy that was restoring a '68 Ford F100 stepside. They may be available now-I don't know-but back in the '80's he could not find replacement rear fenders anywhere, new or used. He finally bought Chevy stepside fenders and re-worked them and welded them to the Ford bed. It actually looked really good-better I think than the stock Ford fenders-but it was a TON of work. Like I said in the previous post be careful to not bite off more than you can chew. Mastermind