How do you guys Finance your restore project

[maldo]

How do you guys finance your rides.
I see so many nice rides so many new projects going on.
I just don’t mean an engine swap here or there but high tech full off frame off jobs... where do you guys find the time and extra money …..

[Boyd]

Just my 2 cents, but here's how I see it -

A small portion have worked hard enough in life to simply be able to afford a "no cost spared" build. This group usually catches some flak, but to be honest, I would go this route if I could afford it. It's usually the rich guys that spend $100k + to have a car built, but couldn't tell the difference between a blow-off valve and a valve cover breather that really piss people off though.

Some have had the good fortune of working with sponsors (hard to get their attention now days and some require lengthy commitments in regards to showing the vehicle).

I'm sure some are using plastic money. I personally frown on this method, but with the price of some of these cars - they can easily finish a car, sell it for more than they have in it, and start another project.

I would guess that some cashed out their home equity. (I only say this because there seemed to be many more "high-level" builds before the housing market crashed.)

And not that I include myself in the "high-dollar" build category (I'm actually in the "low budget" category), but some do it the way I am - a small monthly budget and lots of personal labor. Those in this group also usually sell off parts they don't need, and also may trade some of their skills to have things done on their car. It takes longer to build the car, but it's paid for as you go.

Then there are the really enterprising individuals who use a combination of all the above to get a car done.

And the really lucky ones just get a job with a Pro Touring friendly magazine and have aftermarket companies throw stuff at them in exchange for mentions in the mag.

[ITLBTU]

They have a ton of money when they start... and a couple hundred when the finish!

[CHRIS67]

Home equity loan. You can write off the interest come tax time.

[Jarcaines]

So far I have about $600 in my budget, so don't ask me....

I plan on spreading my project over a long enough period of time that it doesn't hurt my wallet to much. I am just now starting to do a tiny bit of work on my car. I also plan on doing some freelance design work on the side and use that money for my project.

Money is probably my biggest hold back on doing exactly what I want to do all at once, but I just can't make it a financial priority over our house, my wife, and the kid on his way, it's a hobby and I plan on doing it for a long time.

[maldo]

I have always been a firm believer of pay as you go and I have never used credit cards (if I do not have the cash to start with). I have always been thirfty with my money and finding parts for good prices but man these days I find everything high (well if you want to do it right) I am looking at thousandsa of dollars for each section of the car no matter which way you slice it (brakes. interior , suspension etc)
(Give you and example for a good front suspension set up is going to be a min of $1000. Then you move on to the brakes anther $1000.00 and this is just for the basic upgrades… ok 2 grand there and you have not even gotten it to the rear brakes etc ….. (I am including all the small stuff like brake lines etc I am not reusing stuff that is 30 years old) so all said in done you are looking at about 3 -6 grand just to put brakes and suspension and ok rims and tires. and this is just for parts and no problems....

So if you think about it you can spend upward of 50 k in a blink of an eye…… if you want a decent running/riding ride with cold a/c etc that can hold it owne with the new mustangs camaro vetts etc….. and that you can cruise the car secne without getting laughed at ..... on top of that i am a preformance guy so i want power that knocks your socks off....... i am not a type of guy to spend money to rebuld something with makeing it better.... lol


I guess its hitting me when I sat down and really thought about where I want to be with this car and what my time and money will bring me and to tell you the truth I am really thinking about just buying a new car and start from there….

I mean you can pick up a LS based with a 6speed 98-02 f-body with high mileage etc for peanuts throw 15k into it and still be a head of the game (then in most cases you remove all of the body work involved to bring the car back to new) I guess I am pulling my hair out about this because I have just bee used to driving the new stuff … just love the old body and the way it looks compared to the new stuff I just wish sometime I could past my older camaro body panels on a new car. I guess I am at the cross roads of what to do and been in this position before (I have had 2nd gen f-bodys sold them for a 3rd gen then sold that for a 4 gen camaro so know I am back to a 2 gen ….. Scratching my head on how I have come full circle and back to where I have started lol yeah I am nutzzzzzz lol but the older I get the les and less time I have it sucksssss got to balance life and home/family needs rrrrrrrr

[Mr.VENGEANCE]

Im a career janitor.. for guys who love spaghetti.

they pay alot for how much they want cleaned..

[rob07002]

How do you get a $100k car budget?


Start with $250K.......I know, I'll leave in disgrace!

[maldo]

So far I have about $600 in my budget, so don't ask me....

I plan on spreading my project over a long enough period of time that it doesn't hurt my wallet to much. I am just now starting to do a tiny bit of work on my car. I also plan on doing some freelance design work on the side and use that money for my project.

Money is probably my biggest hold back on doing exactly what I want to do all at once, but I just can't make it a financial priority over our house, my wife, and the kid on his way, it's a hobby and I plan on doing it for a long time.

I hear you loud and clear ..... and i have step away from the car seen and sell my car for just that reason (i need a balance) . but, it kills me when i see a nice big cammed car pass me on the highway .... and when i would find myself trying to race him in my jeep grand cherokee i know i got a problem lol lol

But then again i want to enjoy my car before i get old becasue i dont want to turn out like most old farts i see with a 250k camaro driving 30mph around town just to go to the local car show .... what a waste ...... i just like feel like going up to slapt some sense into them...becasue you cant take the dam thing with you so y not use it .....

[Damn True]

Exactly what kind of sense are you going to slap into a guy who can afford a $250k car?

[maldo]

How do you get a $100k car budget?


Start with $250K.......I know, I'll leave in disgrace!

?????

[1badchevelle]

I would say you need to start with a very understanding wife and build from their.

[JWilson]

Cash... and cash only. If I don't have the discretionary money, the car gets nothing. And most of the time, the car gets nothing. I do keep it roadworthy, so as not to lose interest, and handle small projects most of the time, to save up money and time (long weekends, holidays) for bigger projects.

[gearheads78]

save save save cash only that is all

[cluxford]

I consider myself a very ordinary kinda guy...wife, kid and house in the burbs...

I have worked 16+ hour days for the past 16 years.

I am building a 68 Camaro that will cost in excess of $200K when it is done.

Like everyone above says...CFO (aka Wife) aproval first....then...cash and cash only. I saved my butt off for 16 years to afford this, I have a budget and sticking to it. I might have missed out on a lotta fun along the way as I was saving, but I am 36 and will have an show quality 800Hp Camaro and will drive it...and way faster than 30mph.

Like all things in life, nothing is for free....work hard, play hard !!!

PS - what is a blow off valve ??? (just kidding...I know my car backwards)

[Motown 454]

Pay as I go . My kids are gone so Mama let me keep everything over the bills and living expence. Luckally I worked a lot of over time the last 4 years . I wouldn't have done it if Mama didn't agree because she works as hard as I do for what we have.
My wife is no help at reighning me in when I saw my motor for sale I was 3,000 short. We went to the bank to cash our checks and go to dinner . She went in and when she came out she through two envelpoes to me, one was our checks the other was thirty $100 dollar bills . She said get your engine. I'm pretty sure she's a keeper.

[thedugan]

Hey there are allot of people that have a ton of money and they like nice cars. Good for them.
There are some who don't so they need a budget or go in debt building it.

[maldo]

Exactly what kind of sense are you going to slap into a guy who can afford a $250k car?

lol not much

[maldo]

Pay as I go . My kids are gone so Mama let me keep everything over the bills and living expence. Luckally I worked a lot of over time the last 4 years . I wouldn't have done it if Mama didn't agree because she works as hard as I do for what we have.
My wife is no help at reighning me in when I saw my motor for sale I was 3,000 short. We went to the bank to cash our checks and go to dinner . She went in and when she came out she through two envelpoes to me, one was our checks the other was thirty $100 dollar bills . She said get your engine. I'm pretty sure she's a keeper.

know that a wife .... mine has no idea whats under the hood or would not understand why i want to drive a 25 year old car lol
but she is a keeper

[69TAPoser]

Same as Wayne...I pay as I go. Unlike Wayne, I keep my receipts hidden from my wife.

Just kidding...sort of. My wife chooses not to know what I spend on the car, but when she wants to buy something or go shopping I am not aloud to give her any chit!

I spend a LOT more than she does!

Phil