Well once you get the plastic trim stripped off you'll probably find about 80% more rust.
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The Mk1 skirts and front spoilers hide a massive amount of potential rust traps.
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To give you an idea my Mk1 was a 98k 2 owner FSH car and just had 2 small bubbles of rust on the arches and 2 small holes in the sills.
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When I stripped it I discovered the sills were gone in about 3 other places, the rear arches were shot including the lower rear section.
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Both front wings had 2" missing from the lower arch
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(hidden by the trim), the A post had holes in it and both the front and rear bumper irons were disolved.
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I took 8 months of weekend welding and fabrication to sort it all out.
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When stripping the front end most of the 10mm captive nuts and brackets sheared off.
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I spent 3 weeks fabricating new brackets and drilling out/re-tapping nuts.
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Then there was the
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£1500 respray.
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.
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.
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.
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.
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.
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.and then i put a GZE engine in it.
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If you do it yourself i'd budget
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£500 for panels, metal and fittings.
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If you pay a garage then you are on minimum
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£40 per hour.
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You won't make any money out of it but you will get a solid fun car and learn a lot along the way!