Mike, people can create a Bugatti Royale from scratch, so anything is
"salvageable".
A bigger issue is whether this car is in line with your objectives and
expectations.
It's tough to say based on one picture, so please take this with a pinch of
salt.
That car looks like it will need at least a new sill (rocker panel),
probably the sill strengthener (middle sill), and possibly the inner. If it
looks like that on one side, the other side will probably need the same
treatment. How about the driver and passenger floors, and the A post panels
where they joint the floors? And the floor of the trunk? And the front
underside of the bonnet?
I don't see seats, an interior, a dash and instruments, dash top, top or top
frame. Nor bonnet latches, nor bumpers. I do see rust coming through near
the bottom of the rear quarter panel. Does it have a title?
So, it'll probably need a lot of parts, and welding. How much time will your
friends want to devote to your project, or will they be teaching you so that
you can do it yourself?
Here is a link to a Mk II Spit that someone spent a fair amount of time and
money on restoring. <http://vancouver.en.craigslist.ca/car/749418882.html>
Note that he is asking less than he spent. (NFI etc)
Go to a supplier's web site and check out the prices of the rocker panels
(and floors etc), and interiors, carpets, tops. They add up very quickly.
Conventional wisdom is to buy the best car you can afford, and work on
improving it. However, if your objective is to learn a bunch of new skills,
then you will need practice, and might want to take on a bigger project.
As an early car, it would be nice for someone to save it. As to whether it
is worth $300 or $800, it doesn't really matter. It will take a LOT more
than the difference to get this car looking pristine. The experience of
taking a car from this state, to pristine, might be priceless in some
enthusiast's eyes. If that is you, carry on! If you are on a very tight
budget, look for a less rusty and more complete car.
Nick Moseley
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