Instead of spending $ 50,000 on a new vehicle , how much money can you save by just restoring your old vehicle?

why more don't do that? as I think you can make a 25 year old vehicle nearly like new by spending $ 10,000? vs. $ 50,000? am I right? which things need to focus on and why?
Update: which kinds of things? I mean once you have the basics repaired, restored, what else is there really?
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