Farland Financial Matters

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

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 the security of customer payments.

Chances are, you've heard horror stories of people paying a shop to work on their car. Then, the work doesn't get done and the money is gone. It's a big loss for everyone. The only recourse is to reclaim the car and take it elsewhere. 

At Farland Classic Restoration, we've 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 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 Special Advance Account to issue them an immediate repayment.

Our customers feel relaxed and confident that their funds are well managed and protected.

Financial Rates, Billing and Payment

Our hourly rate is $95 per hour for body, metal, and paint work. Mechanical and electrical repairs are billed at $135 per hour.

Once the project is evaluated and a general agreement is reached regarding the scope of the project, we request the customer put funds on account for parts and labor. We send out a detailed billing every two weeks and continue the project as long as money remains on the account. 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. Photos are taken weekly of your restoration's work and then posted on our website where you can view its progress.

To keep a project progressing, we request the customer keep adequate funds on account. We stop work when the customer's funds approach zero. 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. 

Financial Rates, Billing and Payment
<small>Project</small> Estimates
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Project Estimates

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Like most concours-level shops, we find it difficult or impossible to give exact estimates for repair or restoration of a vintage car. As the car is disassembled, unforeseen problems may be uncovered that cause the scope of the project to change. Customer requests for additional work can change the cost as well. We carefully evaluate each project and establish some general guideline of cost.

Start YOUR PROJECT In Our Award Winning Shop.