How much money do you put into a car?

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Palmetto

Palmetto

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How much money is too much when you are building or restoring a car?
I think of all the time and money that you can put into these cars. I learned long ago that you have to look at these cars as a labor of love, vs a money-making proposition. I know of a guy locally that dumped thousands of dollars into a Duster 340 Drag car and he can't sell it for even close to what he has put into it. It has been for sale for over a year now and no one would buy that car at his price. He has come down 5k, but his price is still up at the moon. I feel for him, but I think he used poor judgement. His car was an original 340 car, but he made it into a drag car, cut it up with roll bars added etc.

Some thoughts... I guess if I had a original 340 car I would restore it to stock because of it's historical and collector value and the fact that it would keep it's value and likely increase as time goes on. Even if you put lots of miles on it and came close to wearing it out.

If you buy a clone car, you have no future appreciation like an original 340. It shouldn't go for what an original restored car should regardless of how nice it is. It will only drop down in value as you drive it, whereas the original 340 would maintain the value and increase over time.

If you put a car together like I am doing, I try to keep the expenses to a minimum while still creating the car that I want. This car was originally a slant 6 and I got it with orig motor and tranny long gone. So it has no collectable status other than the fact it is what it is. I will never get a large amount of money in resale regardless of what I do to it. I keep expenses to somewhat a minimum because of that, but I will enjoy it. The fact that it does not have the collectable status allows me great freedom to do what I want with it. I plan on having lots of fun with it. :D

Have any of you guys spent too much? or spent a ton on a car and felt justified doing so with no regrets?
 
I build it the way I want it to be for my enjoyment the money part is not a real concern as long as i have the car the way I want it.
Got tired of keeping track of how much I spend as we all know when you think it's done you think of something else you would like to change. As for the cash like they say you can't take ot with you.
 
My Dart was a slant auto and the restored value was not much.

Since I put the 340 4 speed custom interior pearl paint cloth top made a nice custom and worth more than a restored original. Did have several people interested when 1st done, but like you said, drive it and value goes down.

I have too much money in my car, but it was what I wanted and not to flip and make a profit.

So it all depends on what you want. If it is to make money, get something else, like a PIZZA OVEN, hell papa John sold his Z to start his business, now has it back, with a clone and huge estate

Cars for most of us are money pits, but we love them.

A boat is a hole in the water you throw money in, but people line up every day and throw more money in the hole and LOVE IT. 2 happiest days of boat ownership, day you buy it, day you sell it!
 
To be real honest about the matter, I can sum it up into 4 words.

DON'T KNOW, DON'T CARE!

Cause if I did keep track of how much my happiness my hobby costs, it might make me unhappy. It could be worse. I could be giving my money away at a bar with dancing girls, drugs and gambling.
 
ddettloff said:
I build it the way I want it to be for my enjoyment the money part is not a real concern as long as i have the car the way I want it.
Got tired of keeping track of how much I spend as we all know when you think it's done you think of something else you would like to change. As for the cash like they say you can't take ot with you.
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Thank you,it's good to see someone else with this philosophy !!! Just like Burger King,HAVE IT YOUR WAY !! I'm a die hard slant 6 guy,and I can't tell you how many times people would ask me WHY I would waste my money on a /6,''CAUSE THAT'S WHAT I WANT !!
 
My wife put it in perspective...if you buy a new car for $30k-$40k and keep it for a bunch of years, you probably trade it in for ~$10k...so if you put, say, $20k into a project car you bought for $5k, it'll be worth $10k+? You're still money ahead. I love my wife!!!
 
I try not to get too upside down on any of my projects. I don't think I could ever spend over $25K on any of them. I don't mind doing nearly everything myself, that way I'm only spending money on parts. I've never cared about matching numbers stuff (added waste of money, IMO, and "ties your hands" on doing any serious mods) and nearly all my cars started life as slant 6's.

Maybe if I was richer I could consider it......
 
I don't really worry about totalling it up.... I put in to them what I need to put into them to be a decent looking driver that will last...and then throw some want to stuff at them....
 
I built it how I wanted it, it was expensive and I have no regrets. Would be lucky to recoup 25% on a sale I'd guess, but its never going to be up forsale so it doesn't really matter. I would never do a resto of this caliber again, unless I win the lottery that is.
 
it took me 9 yrs, A lay off at work, loosing my house and several girl friends and well over 30k to get my car to this point and i wouldn't trade for anything.

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I never had any thoughts or intentions as to what the buggy's future value may be. I was just wanting to build a cruiser for the wife and I to enjoy and to hang with our friends, who are also Mopar fanatics.. I used to try and keep track of the money being spent. but eventually gave up on that.. If I really take the time to consider value, for a good while I was still in the green, as far as making money if I had to sell her... now.. probably not.. She was just a /6 grocery getter with no real frills,.. wasnt a 340 car or a big block Dart.. and though she has a small block and she looks pretty now, I know it'll never bring 340 car money.. If I had to guess, I probably have a little over $10 grand in the car.. (I got the car for $350.. running lol).. What do I realistically think I can get for her if I had to sell.. $7500-$9,000 ... and Im not even sure of that.. but im fine with that.. the experiences I have had in the past 9 years with the car, restoring her, spending time with friends, and the cruises my wife and I have enjoyed are more than worth every penny I have spent, and continue to spend... Thats how I see it anyways..
 
64DartGTinAZ said:
My wife put it in perspective...if you buy a new car for $30k-$40k and keep it for a bunch of years, you probably trade it in for ~$10k...so if you put, say, $20k into a project car you bought for $5k, it'll be worth $10k+? You're still money ahead. I love my wife!!!
Click to expand...

That's what i always thought! Why pay a ton for newer cars when you like classics better and if you sell it in 10 to 20 years you'll still get more than the newer one ever would
 
I try to be frugal, I do everything myself, sometimes you have to spend coin to get a better product, something costs a certain amount that you can't avoid, and let's not forget the do-overs and the unforeseen.

As far as totals, it is what it is, I think I'll be somewhere in the 10k range on mine. I quit keeping count it just adds stress to something that can be a PITA.

64GT is right, the people who made these cars are dead, or pretty close to the door, like a cheap Merlot from the 70's, they will only increase in value over time. :D
 
labor of love not of money....i have about 7k in the wagon about maybe 3-4k in the aspen dont think ill even get that back but it dont bother me im having fun ,learning,and just plain have stuff to do thats not like others said bad choices drugs,bars,strippers.
 
Its a hobby, I have many.
I swap, trade and sell to finace them.
I don't spend family money to support them,
they support themselves through my ingenuity
and hustle.
Some may never get done, but thats all right.
I've met and enjoyed more things and people because of
my hobbies than I ever have in my work.
I find if you go into something to make money its a j-o-b
and that robs some of the joy from it.
I usually make decent money when I sell, but it just goes
into my next project or tools/equipment to do the next project.
I'm not tied to any one brand or thing, I find joy everywhere.
I've pissed away a small fortune on hobbies:cheers:
 
Well said several times....the only thing I can add is: 1, It will vary widely from person to person - labor of love wise and financially wise, and 2, as long as you can take care of all your responsibilities (loans, mortgages, necessities, the future) first, the sky’s the limit
 
I really love to work on cars. It is great to be able to see and enjoy the fruits of my labors. So I kinda think of it as buying happiness. :D Can't put a price on that.
 
Definitely a labor of love for me. I've not invested as much as most of you have in your A-bodies, but I've probably got about $5k (including labor) in Lucy. Most of the mechanical work I do myself, though I haven't the time or space to do much with body work. If I take out for cost of body work (including the 2 accidents I've been in, 1 was covered by insurance), I think the total I have in the car is only about $1500.
 
well i have been doing the jeep thing for to long but this is what the jeepers say, " Just Empty Every Pocket" but it more of love than any thing else. or should i say the money does not matter just as long as you are happy
 
think of it this way. If youre in it for the money. Youre already at a loss for getting into A bodies.
That aside, would you rather pay 60k on a brand new sports car and have a comfy ride that any joe with 60k could buy? Or do you wanna spend 30k on a car that noone has. you made it. and could even perform better than a car off the showroom floor? A car you know every inch from and can drive down the road knowing everyones staring and something you built and/or your design?
I know which one id choose.
 
Most people would say I spent way too much buying my car and way too much on it afterwards. But the ONLY regret I have was not spending some of my money more wisely. I was too anxious to get it done (and I'm still a long way from that). Hold out for the right price on the parts you need. Take the time to do it right.

Find clever ways to fund your project. Skip a few meals out, buy a part with what you saved. Give up smoking (man what could can buy with those savings). If your family exchanges birthday or Christmas gifts, ask them to go in together on something you need or want.

And if on occasion you have to pay stupid money like $300+ for a sport mirror, it doesn't hurt quite so much.

Have fun!
 
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