Projects How do you fund your project cars?

Only have one off topic car, but i have been attending nostalgia events. I suppose i'll give up drinking and gambling and take a little overtime to buy and build my next HAMB worthy car. I'm fortunate enough to make a good wage as a union sprinklerfitter (fire) for the last 16 years and counting.

 

I tell this to a few people and most of those don't believe me. Most parts I need I put on a credit card, my wife gets the bill and pays it. It's a good system if it works, but most guys don't seem to be able to make it work.

 

I`ve pulled more than a few seats out of cars. I thought the record would stand at 12 dollars in change(Camaro). Then I did a Corvette, found 23 dollars in change. My boy that was 7 at the time got to keep it. Over 3 dollars in pennies.

 

in decades gone by in the circle track game for me it was OPM(other peoples money), whenever it was available. As far as project cars my personal policy was always spend money ONLY after family and financial obligations were taken car of. Hot rod crap can and has come and gone, family is forever. Being out of the car game now has freed up way more cash and way more time.

 

Hello,

We were looking around for another car to replace one of our current daily drivers. One had about 35k miles and leaked oil, while sputtering every morning. The other had 70k miles and ran great with little to do but put in gas and go wherever. So, one was headed out and we needed another daily driver.

Since it was my wife’s Corvair that was on its way out, we looked at convertibles and small two door coupes. We did not even think about hot rods until I mentioned a woody. A neighbor had an old beat up woody that stayed outside in all sorts of weather, but it ran well and got him to the surf spots daily.

So we thought it would be cool to have a woody. Being at the beach, going surfing daily/weekly and cruising all over So Cal, it just fit the scene. My wife was the money manager and did save a ton of money to go on a month vacation to the U.S. Virgin Islands a couple years earlier. Her cost cutting and savings did not harm our social lives, it just meant one less dinner or 2 less lunches out at a restaurant. We already had our meager clothes for our beach lifestyle, so no new suits or fancy dresses. Besides, no weddings or funeral to attend for the future.

The money started with the sale of the Corvair to my wife’s uncle for $100. It was worth a lot more. But, he was down on his health and business, so she sold it at a tremendous discount. We even put off the cash transfer until he could get back on his feet. A good thing leads to those who wait… and she was good at saving anything to our meager bank account. I was good at saving everything, but, not to the hoarder’s level. Luckily, we had a small garage most of our lives and that was a deterrent.

Over the next several months, my wife had somehow saved enough for a small sporty coupe or an old woody we knew of in the OC. She liked the small sporty coupe and I liked the woody, except that it had a Flathead and now I wanted more horsepower. So, she began to like the photographs I was taking of old hot rods and custom motorcycles and thought the next car should be a part of our own business. Our tax guy said that any car or truck used as a business write off and is tied into the business would be a great savings for us.

Now, we still did our own thing daily, the business was rolling, I had some new photo equipment and the car search was continuing. The longer we waited, the more money my wife saved, so it was a win, win. Our old El Camino now had 80k miles of no problem or repairs, driving all over California and Baja Mexico. It even had enough power to go to the high altitude mountain driving cruises and vacations to friend’s locations.

Jnaki

When I found an ad for a woody, I was still reluctant about another Flathead motor. But, this one was advertised as a 3 speed stick and a SBC with a 4 barrel. Now, that was going to be perfect for us. I already had drawn a door advertisement that was going to be silk screened on to an aluminum plate. Then I was going to attach them to the driver’s door panel and one on the passenger door panel. We were rolling, the cash was in our bank account, thanks to my wife’s expert savings program.

But, as all good things come about, we did not get the woody that was located in San Diego. My wife loved the yellow paint and I liked the pristine wood surfaces. The SBC power was going to be the icing on the cake. The owner was an absolute a$$%@#& and would not take our check, although we had a certified letter from our bank to verify the amount in our account. It was Saturday and banks were not open back then on the weekends.

We were saddened, but within a couple of weeks of looking at several brand new sporty cars, I found another ad for a 1940 Ford Sedan Delivery. It was located about 10-15 miles from our location and they took our personal check after verifying the certified letter from the bank. The local branch was just around the corner. So, now we were proud owners of a 327 powered, ill handling and driving Sedan Delivery. I knew it was going to be a project, but the base was there and it just needed some work.

Actually, it needed a lot of work. We made the repairs and when it was all finished, it did not need anything except for a replacement hood latch that I broke in a hasty move. For the next 5 years, it ran great, we had tons of fun going all over So Cal and it was very private in the driving location and definitely in the back cave.

The savings was just perfect and was actually burning a hole in our pockets, knowing it was saved to buy another hot rod project or daily driver. If one thinks about savings, it does not take much to budget out some things to save. I watched my dad put his spare cash over several years into a large bottle. Mostly, loose coins, but some bills made it into the container, too.

He always had coins, but he never liked it to jingle as he walked. This way he emptied his pockets every day. He had saved enough to buy his next car for cash. We were not that extravagant, but it gave us the impetus to save what we could. Besides, what little amount of coins we had, fit nicely into a small Levis coin pocket and a small purse for my wife.

So within a year, our arsenal had three vehicles for our daily driving pleasure and weekend cruises up and down the coast. A 65 El Camino, a 1940 Ford Sedan Delivery and a new Harley sportster to keep up with the newly created portion of our photo portfolio.

For the next several long months, our coins disappeared and our savings were becoming depleted as the repair/replace thing for the "newish" sedan delivery was taking place. The prize was going up and the bank account was going lower, despite the meager savings plan.

 

Being half Scots I'm considered cheap. I call it thrifty.

My last position before retirement was for the state. There is a part of the compensation called longevity pay, instead of pay raises. After 5 years at top of grade the first step was $1500, or $900 give or take after taxes. Second step was $2500, $1600 or so after taxes. So for the last 16 years I cashed that check and put it in my pocket to pay for hobby stuff.

Going back to that first sentence, I still have the last 2 years of the deadwood bonus, as it was nicknamed, in the wallet.

Okay so I'm cheap...

 

Another scenario
Pick up a beater from the scrap yard. $600
Sell the hard to find wheels it came with $200
Sell the scrap you removed from it back to the scrap yard. $150.
Sell some of the not needed mechanical pieces. $100
Trade a free part you had for the front suspension. A friend donates a rear axle. Another friend has a buildable th350 $0
You pick up a running engine for $75. (Thanks LS swap people)
You trade some ugly wheels you had for some better looking wheels that have the correct offsets.
Bought a 1/4 sheet of 1/4 to box the frame where the front and rear mount. $75
So now I have a roller that’s mocked up for around $300.
Still a lot more to do, but not bad so far.

 

I’m all in! I’m a teacher and about 10 years till I can retire. I’d love to learn more!

 

I’ve alway got something for sale. Car money usually doesn’t come from our household budget. If I can’t pay outright, I don’t buy.

 

Bought my first old vehicle with money I earned picking tomatoes at 13 years old. Always try to have a side hustle, buy things right and find the right person to sell it to. Oh yeah always worked full time and farmed at night and weekends, some years mother nature can be quite generous.

 

I usually say "This is it, no more project cars". That's like a magnet...

Oh you said fund.....I thought you said find.

 

they fund me....oh...ooops... i fund them....er...find them ..find me...im confused....

 

Retired contract killer......really easy to pick up jobs on the side these days. PM me with your problem...will maintain the strictest confidentiality.

 

Ironically hundreds of you guys have funded my cars/projects over the years!

Seriously though I have been so blessed to have my business be successful for a very long time. Couple that with the fact that I never had children (except for the furry ones of course).Also my ex wives when they were with me all liked/loved cars, so even way back there was never an issue about me having one or two extra cars. Now of course since the house & shop are paid off & I don't have many bills.....That number has grown by leaps & bounds. I may have a problem!

God Bless
Bill
https://www.jalopyjournal.com/forum...ar-transport-hauling-open-or-enclosed.614419/

 

I tell my wife that I am building them for her….

 

Children play a big role in this hobby for many. Op stated he has 6 children that will limit any car projects for most. In the way back machine I asked my Girlfriend/ wife do you want a big family? So we decided early on that we wanted Kids and cars, we balanced things out so the family always had what they needed and WE always had the cars we wanted. For us it was always a juggling act, sometimes our cup was empty sometimes our cup over flowing.. Realized that when I wanted something for a car she would say she wanted something for the house etc. She got... I got... a simple balancing act worked for us.

 

I didn't marry an engineer, I was one. I was lucky and ended up working in the telecommunications industry just after the Carterphone Decision, which opened up some great opportunities for engineers who were willing to move around the country a bit for the lucrative positions. I saved and invested, and now don't worry too much about what I spend on toys. My wife has instilled thriftiness in me though, so that tempers my expenditures somewhat.

 

I've been fortunate enough to have good friends and we all had different talents so we would work on a friends car to do what they couldn't, we would only get money from each other to cover material an parts. This way we all got our rides done on the cheap an I now have a ton of good memories.

 

Dont drink anymore so have extra cash all time...not big money...enough to buy cheapo deals when they come around...found this one..upstate N.Y. they are still out there....same owner since 76 , wa s stored indoors till last fall...The gentleman drove it in high school then parked it....should run if its not siezed...needs a gas tank and mice chewed up the wiring...i hate those mieces to pieces. ,,,,,,,,,,,,,,, they fund me....oh...ooops... i fund them....er...find them ..find me...im confused....

 

Like most of you, I do side jobs. Just up till recently I've cut back to bench work only.
Age and my body demands it!
I'll do engine, trans, differential builds. As long as the owners pull them or pay a third party to R&R the component. I also do some fab and welding jobs for the local farmers..
I also started pulling a $100 a week out of my paycheck each week. Since being diagnosed with A.S. my side Hussle has nearly died.

 

I am like some of you on a fixed income from disability. When I was working I always had money for my next project. Now it's different and this thread really hit home. It has become a problem now and I enjoy everyone's different approach. I do side jobs like panel beating when I am able to. Welding is another skill I have that makes a little money. But my best has come from flipping cars. Buy cheap do some repairs etc. And sell high. The last 3 cars have been winners while 2 I have barely broke even. It's all in the market and picking the under valued gem. Here is the down side. It robs me of time and energy from my real project. But it keeps the wife off my back spending money we don't have. LOL!

 

I Buy And Sell Other Project Cars And Parts To Build Mine..Win Win..

 

I date rich widows.... Just don't tell my wife....lol

 

I've had projects all my life since before I could even drive. And once I got married, I had a mess of kids too, so money was also tight here. All the kids are gone now, and I've been retired over 11 years now, so money is actually a lot easier to come by now.
Back when I was working I took whatever OT I got and used that for my car projects. As an electrician I also collected and sold scrap copper, and that all went to cars too. I never paid for any car parts by taking money out of the bank, or using a credit card, unless the bill was going to get paid off when it came.
It always meant that my cars were budget builds, and often a conglomeration of used wrecking yard, or local purchased parts. But I found that to be part of the enjoyment, and even with more income and less kids, I still like building on a budget, and continue that way. Old habits are tough to break.

 

Over the years I have had to sell cars to fund other projects, I never borrowed money to build a car and if I used a credit card to order part's I made sure I could pay the bill in full when the statement came due. HRP

 

I will do burnouts, wheelie's for beer ,food, or money.

 

I've been spending way too much money lately trying to repair my son's OT ride (22-y.o. Asian SUV) and I'm still unable to afford it, but I use a little money left over each month and whatever I can earn as a substitute teacher to move my project of 48 years ('29AA w/351W & AOD) forward incrementally. The son's car will have to wait - he's driving my 26-year-old Explorer (500K+ miles) at Med School a couple of hours away - because I want to get the hotrod engine assembled and the AOD transmission rebuilt by fall. That means his car sits in the garage, barely drivable but to my substitute side hustle, while I try to accumulate enough $$$ to get the hotrod drivable. Meanwhile, the bills get paid, we don't go hungry and the wife and I are retired, healthy and happy. I call that a win.

 

I work a little overtime most days and save my money. I used to do side jobs at home, but found it wasn't worth it. People seemed to think I owed them every future repair on their junk after that. Aside from that, we live pretty frugally on a single income. Meals are cooked at home and the mortgage is our only debt.

Devin

 

Usually by selling the last one! I had a pretty good run of finishing a car and enjoying it for a little while, then selling it. I'd use a lot of that money to buy the next project and a bunch of its parts. I don't think I've ever actually made anything from doing it that way, but I enjoy the build more than having the car (usually). The last round saw us relocate, and we made a good buck off of the selling/buying of houses so my share was put into a project I was gifted that I will not be able (or want) to sell. I sold off a T roadster project I had and started an O/T project but that didn't last. Eventually I was back to almost square one. But by then my daily was paid off, and both I and my wife had started making decent money. We don't have kids either...so it's pretty easy for me to buy stuff when I need it. Every now and then I am able to buy and resell some parts or other things to make a few extra bucks. I like to keep an eye on estate sales for good deals but haven't had much luck there lately.

 

My custom shift knob hobby/business pays for my old car addiction. I fudge a little bit by not keeping track of what I spend on any materials that I need to buy. So basically I put the gross amount from my sales into my car slush fund. I rationalize by thinking I'm doubling my money.