How to afford a hot rod on a regular guy's income.

Like a good percentage of guys here, I never use my wages to fund my car stuff. I frequent swap meets all summer to find good deals and to sell my "stuff. My "stuff" generally consists of cheap parts I've bought last year and spend time on in the winter to prepare for sale at the summer swaps.
This morning I sent a X dollar 69 Porsche down the road for Y bucks after washing it and vacuuming it out, freeing up the stuck engine and making up a nice ad for craigslist. That's a 1000% profit and the $$$ will go to my current 34 ford project with a small percentage going toward new parts-purchases to sell at swap meets.
Oh, yeah...I hear the guys at coffee say things like "You're just lucky to find deals like that."
Nope, it ain't luck. It's constantly staying in touch with fellow car-guys and keeping my ears/eyes open for good deals.
Just bought a full set of rusty Cragar SS wheels and I have a plan to make them presentable without spending a lot [ok, 'ANY'] money..I expect to make 100-150 bucks profit that goes right into the 34-kitty.
A few months ago I did some mechanical and electrical work on my bodyman's customer's Jeep. He charged his customer for the work done and that amount was deducted from my 34 bodywork bill..and it wasn't the only time we arranged this kinda barter. I keep my body man't cars/trucks running and have for years. He does my bodywork.
Ya either gotta have money or be recourceful...or sit in you computer chair and dream of all the cool you're going to have "someday" when you win the lottery.
Hmmmm, that reminds me, I need to check my lottery numbers.

 

My evil plan to go to RN school helped. When I pass my boards(next month) I will get an 11 dollar an hour raise. They also offer 50% bonus to RNs to pick up shifts. I also still plan to valet cars, and I have some left over clients from when I had my own massage practice. I will have a neat-old-stuff account starting in jan.. I will pick up my Turnpike cruiser next sept or OCt(the guyis holding it for me)

 

The amount of money wasted on new cars is staggering.

The "stealerships" love it, the addon guys love it, the Stae/Fed Govts love it, your DMV loves it, the parts houses love it, the lease Co's love it,the insurers love it...everyones in on the scam.

Biggest waste of money Ive ever seen dont ask me how I know, been there, done that and even though I came out of it well due to proper lease arrangements, I won't go back there, unless Im royally flu$h. I DO love a nice DD just as much as the next guy.....but knowing what I know now? No thanx....

OTOH, if ya got the gold....live a little. Problem is there's too many 2 dime millionaires that want to look flash, buying late model cars that depreciate in value as soon as they come off the lot with money they dont have, and then have to pay over inflated premiums/parts/service charges etc....absolute rip off.


Not too bright folks.

Rat

 

Try living in this country - even 2nd hand cars can have you paying up to 15% -20% interest if you're not careful.

And my wifes DD is a '83 Olds Ciera, over here it's considered quite a cut above the other DDs.

But I've never bought a new car - and it's not just the interest rates, it's the depreciation.

A tidy '05 Ford that cost $33,000 or so will now sell for around $11,000.

Seems an easy way to get rid of a lot of hard-earned money.

 

The way to be able to afford a hot rod may be to stay away from the new car lots, but if everyone did that there wouldn't be any used 5 or 6 year old daily drivers to buy. I stand by my earlier post.

 

The O.P. sounds like either he, or the original advice dealer is a fan of Dave Ramsey.

If you're interested in getting out of debt the right way, let me know (I followed Ramsey's methodology, and now I owe no one).

I'm in sales - when I earn a bonus, I pay myself and I pay into my car fund. I pay cash for everything I buy, or for services I can't handle on my own. When I don't have money, I don't buy things.

I also budget for everything. Every car dollar has a pre-determined purpose: engine, transmission, gauges, whatever.