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Estimates

We find it difficult to give exact estimates for the extensive repair or restoration of an old car. As the car is disassembled often new and unforeseen problems are uncovered that cause the scope of the project to change. Ever evolving customer requests for additional work, change the cost as well. We do carefully evaluate each project and establish some general guideline of cost. It is always subject to change for the reasons stated above.

Financial Accounting

"The ethical handling of money and accounting makes for a stable business and gives the client confidence and peace of mind." -Jack Farland

Classic Restoration considers the proper handling of customer funds and informative billing as important as the quality of the restoration. We have a highly refined system of handling and protecting customer payments.

You may have heard horror stories of people paying a shop to work on their car, the work did not get done and the money was gone. Big loss for everyone. I went to look at a project in December of ‘08 that was abandoned by the shop and the money was all gone. All the man could do was remove the car and pay someone else to finish it.

At Classic Restoration we created a system that gives our customers confidence and keeps them informed.

We have three main checking accounts, the Main Account which is used to receive all income. The Special Advance Payment Account, this account holds all advance payments made by customers. No funds are removed from this account until a valid work order is presented, this verifies the work has been done or a part purchased. Only then is money moved from the Advance Payment Account. The third account is the Bill Payment Account. All company bills, salaries, and parts are paid from this account. This system ensures that customer funds are not mixed with other accounts and it forces the shop to always deliver the service BEFORE the customer funds are debited. A detailed spreadsheet is used to keep a running total of the funds for each customer with money on account. Should a project take less time than the customer allowed for, we always have the correct amount in the Pre-Payment account to issue them an immediate repayment. Our customers feel relaxed and confident that their funds are well managed and protected.

Shop Rate, Billing and Payment Policy

"Money is the energy that propels a project to completion, like gas in a tank." -Jack Farland

Our hourly rate is $85 per hour.

The rate is the same for: mechanical repair, fabrication, body work, paint and detail. With many mechanical shops charging $120 per hour we offer an excellent value.

Once the project is evaluated and a general agreement is reached regarding the scope of the project, we request the customer put two or more weeks labor and parts expense on account. We then work off that money and send out a detailed billing every two weeks. The bills you will receive show work done day by day and all parts and materials purchased. We also include an account balance with each bill.

We stop work when the customer account is close to zero. To keep a project moving we request the customer keep adequate funds on account.

In the event funding for a project is interrupted the work will stop and the project will be put in storage. Interest on any unpaid balance and storage fees will be billed to the project. Customers with up to date accounts receive the full attention of the shop and faster completion.