So I'm putting this question out to get some input on pursuing a restoration effort.
I inherited a 1986 Vanden Plas that needs a lot of work. The brakes are frozen, the fuel tanks need to be flushed, it had trouble starting but we replaced the starter and ignition. The front needs to be redone as it's very loose. It has some electrical questions. At least one of the floor pans has a rust hole through it so there's body panel work to be done. Some body work needs to be done to repair minor accident damage over the years, the rear bumper needs to be replaced, the seats are ripped, and the wood dash trim is peeling up.
I can do some of the work but not a lot that requires putting it up on a lift. I've had some work done, flushed one fuel tank and the ignition so that it could be started.
I'm looking at, from a local independent Jaguar shop, about $2000 for all four brakes being rebuilt/replaced. If the shop did the work it would be about $6000 to get it in decent mechanical condition. That's a lot, for both pieces.
So my question is, should I dump the car and the $1500 I've put into it so far or get the brake work done and then use it as my project car for automotive and autobody night classes at the local technical high school?
I'm going back and forth and I know that I could find one in decent condition for around $4000 +/-. Cars are always a depreciating asset and more of something to enjoy restoring and using, not factoring in cost as much.
Anyway, thanks for the thoughts.

 

I think that you have answered your own question.

You would restore it because you wanted to and would gain pleasure from the process.

The mechanical aspect is the easy part, decent used parts are readily available, but it is the structural and body work that can easily be your money pit.

My XJ40 is mechanically 99% but the rust means that it will never run again. Just not worth it.

 

Yeah. If I do move forward that body work and hacking out the rust will be my sweat-equity in the project.

 

Why, i am not going to question what all the car needs, but if it simply needs new calipers installed on all 4 corners, I would say to look on e-bay and find some rebuild kits. They can be had for cheap (see WD Express 544 26019 381 Front Brake Caliper Kit | eBay for the front kit, a similar kit can be had for the rear). That would be a lot cheaper than getting a shop to do it for you. Rebuilding the caliper is pretty straight forward. I think once you get the caliper off of the car, getting it freed up enough to rebuild it shouldn't be all that hard.

As for restoring the project, like was mentioned, you have kinda answered your own question. So, ask yourself if you are restoring it because you want a car with lots of class to it and don't mind spending some money/time to get it back to running or is the car not worth what you see having to put into it.

 

Thanks for the input. The brakes include needing to replace the calipers, pads, hoses, fluid, and rotor - all for the front and the rear. I'm probably not remembering everything. Certainly a chunk of that is the labor, +/- some, though I would be getting the work done at parts plus 10% and labor. The brakes are completely frozen. As soon as you free them, and then put pressure on the pedal, they lock down and won't release.
I don't have a lift, only a New England driveway, to work on that kind of a job. Once I have it rolling I could do more of the work over at the local technical high school during evening automotive classes.
The brake work also allows for bad bolts or broken bolts and cleaning up the E-brake.
The car sat outside most of its life, living in the US Northeast with salt on the roads in the Winter. So there will be rust. It has been sitting outside for the last 5 years or so.
What you point out is all good info and given a healthier place to start probably what I would do. I understand, though that on the rear brakes it can be a real challenge to get at some of the bolts to release them.
Granted, I'm more familiar with other work and working on my jeep and truck than a Jaguar....
Still mulling.