Build Costs

[first69]

I’ve been a member of the site for quite a while now and love watching and learning about all of the builds. The posts always offer a lot of information and provide motivation to work on my own project. My question involves the financial portion of car building. I watch all of the awesome builds on here, go to numerous car shows every year, subscribe to magazines, etc. and the one thing that I seem to have the hardest time understanding is how do people afford some of the cars I see. I am 40 years old, married, two kids, we have what I would consider an “average” or comfortable income, excellent credit and we are very responsible with our money but I couldn’t even come close to being able to afford some of the builds I see. I know this is a personal or private subject for most people but I would love to see any responses on how “most” people do it. Are they in crazy debt, credit cards, inheritances or just filthy rich??

[Ron in SoCal]

Just so you know, this question has been discussed a few times before.

Going into debt for a car like this is not the way IMHO. You gotta ask yourself, where are my priorities and do I have the disposable savings / income to make this a reality? If it was a boat or a plane, would I be able to swing it? No matter what your reality is, if the answer is no then scale back your project plans.

[DOOM]

I bought my car in 2005 and started putting money away and buying parts as I went along. I did't start the car until I had the money in place to do the car right. It took some time but it worked for me!

[sleepertime]

In my case this car has been a decades long dream to have this completed. When we built our house it was always a thought of how and when I would do work on the car. It has taken much longer to finally get started but we are getting near completion. My family has been blessed and favored to the point of being able to plan and afford the work and parts on a single income. We have sacrificed other things to be able to bring this creation to fruition.
My wife and I have been and are in agreement on the cost and completion of the car. We have committed to making it a priority in the area of finances.

[Blake Foster]

ALL the customers we have had that have built cars are SELF EMPLOYED, or have been and are now retired. you CAN'T build one of these cars in a reasonable amount of time if you are working for someone else.
I know there will be guys who say "I DID IT" and I am sure it can be done but like the previous post said it has been 10 years. Personally I would be WAY past it and on to 5 other things before I spent 10 years building a car.

Ron is the Exception to the Rule LOL but honestly he has been building that car for what 6 years and it just gives you too much time to change things and there for drives the cost UP, ASk Ron

[NOPANTS68]

Originally Posted by Blake Foster

ALL the customers we have had that have built cars are SELF EMPLOYED, or have been and are now retired. you CAN'T build one of these cars in a reasonable amount of time if you are working for someone else. I know there will be guys who say "I DID IT" and I am sure it can be done but like the previous post said it has been 10 years. Personally I would be WAY past it and on to 5 other things before I spent 10 years building a car.

Ron is the Exception to the Rule LOL but honestly he has been building that car for what 6 years and it just gives you too much time to change things and there for drives the cost UP, ASk Ron

What's a resonable amount of time? I built my car in three years working for someone else. It's nowhere near some of the things that the pros build, but for two fat kids in suburbia- it's not junk either.

[Vince@Meanstreets]

with in reason and results may vary.

If you can't afford it don't even try to start. You are either going to have the talent to build it on a budget but parts still cost money. So factor in what you cannot do yourself into $$.

Average joe next door "standard" built will still be an honest $50-60K. If you can't afford that, budget $30K and buy one done.

[Lous69]

Slightly off the point he raised but I would encourage the original poster to realize that it sounds like he is a very rich man in the most important ways.

There are people who can afford to spend lots and lots of money on hobbies but who are not lucky enough to have a nice family (like the one it sounds the original poster has been blessed with)

Everything is relative. The secret is to enjoy whatever we can afford, to its fullest, each and every day.

[Ron in SoCal]

^^ that was funny Blake!

Lou great point and post.

[Spiffav8]

IMO it's all about balance. Sure I'd love to have an over the top build, but that would put me in debt and take away from so many other things in my life that are important. If I took that route I wouldn't be happy and that would take the fun out of the car for me.

I put together a build sheet that had every cool and trick part on it that I wanted. Then I priced it all out. The total of all those "cool" items was shocking and that total didn't include the car, body work or paint. So I took a hard look at what I needed vs wanted. There are a few items that will really make a car and following some good advice I went ahead and add things that will connect me to the car and enhance my driving experience, but not break the bank.

I suggest you search around and get a solid idea of how much the type of car you want to build will cost you. Find a car that is solid and all there. If you're smart about it, you can sell off items that you won't be using and recoup some of the cars cost. If you buy a running car, you can drive and enjoy it while you save your money and stock pile parts. If you have everything before the tear down stage, your car will spend less time off the road. Not saying to be super cheap about the process, just smart.

In the end, build a car that fits what you will really do with it and don't let it rob happiness from other areas of your life.