You are being very smart. If you are patient and have cash in hand, deals come up all the time on cars and half finished projects. No one EVER gets out of a car what they invested, so you can save a bunch of money with the right buy. The economy and this gas situation is sure to bring lots of these to the marketplace.

Now that you have that out of the way, it is time to start figuring out what you REALLY want in a car. An old car is only ok unless it really turns your crank.....it has to be one that you really really really want. I have had a bunch of old cars over the years, and had some that didn't do a darned thing for me. I just bought them on impulse and because they were old cars. I bet everyone on this forum has done that too.

Some people are roadster people, some like coupes, some sedans, some like fat fendered cars from the '40's, etc. Most rodders will tell you there is that one car that they have yet to own that is still in the back of their mind. Mine is a '32 Ford like you pictured, but too rich for my blood. (Unless I donated blood every day for the next 10 years ) So I compromise and build cars that are within my budget and skill level.

You have a little time to figure out what car you really want, and also to start putting the cash away so that when one comes up you will be the first guy there with money in hand. Good luck.

Don