Hot Rods Do you keep track of how much money you spend on your Hot Rod

...yes on somethings nice to look back then look at cost then to now,and dont tell the ball amd chain!!!

 

I do on most purchased but ,not on every single nut & bolt or rattle can paint etc.

 

I do this also!

 

YES. They helped me get insurance coverage when car was being built.

 

I keep a pretty good record. Not gas and oil or filters,but all the parts and hardware get logged in. Guess I just like to keep a running total. My wife doesn't care-hotrod money comes from a different source than household spending and retirement.

 

cars and trucks that I am flipping to finance my projects, Yes I watch very closely..my 48 Cadillac, 64 Riviera, and 34 Pickup I just have a rough idea. its OK just as long as I achieve the look and feel that I'm after..never check gas mileage..

 

I keep all the receipts in a drawer in the garage and never add them up.

 

I am married to an accountant so, when I started on my 1955 F100 I agreed to turn all receipts into her. She was a great sport during the 2 year build and it is nice to look back through her spreadsheets at pricing/part numbers.

 

no way just keep part numbers

 

I save receipts, as well as photographing parts I find at swap meets, cl, etc. I try to take a picture of the part, and packaging if possible. If it's a car I plan to sell, I keep a running total. Otherwise, it's just a good idea to have demonstrable data for insurance evaluation, and in case of a loss. If you've spent a ton of money, and countless hours, and aren't rich enough to be self-insuring, why not have a good chance at being compensated properly in the event of a loss? Last summer a kid tapped the rear of my buddy's '60 Vette. He had labor and parts receipts, and was able to make his case, justify what he was asking for, and got a tremendous settlement.

 

I keep record of 95% of everything on a spreadsheet in the computer.
Part numbers, where purchased, and cost. If every need to replace anything I know where, number, etc. I also do some work for friends on their cars and keep track of what I do and the cost to them, keeps us both on our toes. People say I'm nuts, but got the habit from being in the service, and from my regular job.

 

me too

 

I guestimate...and mostly ignore the fact that Ive spent a shit load.

 

lesson learned. Next truck is done. They can pay for it. Iam into it for 35000.00 and its only worth 18000.00

 

agreed with only keeping parts numbers. if you want to keep track of the cost thats fine. however, dont expect to get every nickle out of it when selling. seems nobody ever gets out what they have invested unless its a super rare/desireable car, so it seems a huge waste of time to me. thats just my opinion, and we all know what opinions are like.

 

I overheard this once while at a car show when a young kid asked this old man standing by his car how much money he had spent on his car. The old man's replay was:" These things are a lot like a woman. If you kept up with what you spent on one, you wouldn't have one."

 

In a word yes..This is how i justify it though,for every mile I drive the car it pays me back a dollar I was 12,500 in the build of my 46 Merc .Now I have 35.000 miles on it now
taking the kids and wife to shows and dinners and plain old drives to get lost...
Do the math!

 

You have a budget? I mean, keep track?... Me, I don't want to know. It'd just depress me...

My advice from experience? Keep your receipts in a BIG file folder. Then, NEVER EVER add them up or look at 'em again. Just pass the folder on to the next owner (if you ever sell it, that is...).

 

I personally have a 3 ring binder with dividers and folders to keep receipts, notes, pics, etc etc etc...

 

I am not that brave! What I don't know won't hurt me! ~Sololobo~

 

Here is my take on it. I have built several cars in my life, do I keep ALL the receipts? I would have to agree that I don't.
Although if I didn't have this hobby I would need a really good psychiatrist one that would charge me um, lets say $60.00 an hour to listen to me bitch about how bad my life was and how I hated living.
Now if I added up all the hours I have spent in the Garage and counted them at $60.00 an hour for "therapy" I would have spent a hell of a lot of money making someone else rich and I would still be pissed off and angry all the time.
I am in this hobby for the love of working and creating, that is worth every penny I put into any project that comes into my garage.
Resale never enters my mind during a project, I do it for me, the way I want it done, to the level of expectation I want. When it comes time to sell I know they are getting a hell of a deal and most the time so do they but in the end it is all Therapy.

 

Not no but HELL NO! That would be CRAZY!!!!!!!!!

 

I fix motorcycles to support my car habit. I keep tight records on the bikes but a bit loose on the cars. I waste labor on the cars but not the bikes. I will wait months for a super deal on a relatively minor car part! I am a sick boy but I agree with 39 tow about therapy!! peace

 

I keep a build book (3 ring binder with page protectors) on each project. I try to keep all the receipts in it but have never added them up on anything.

These have helped me walk two projects through state inspections to get title and registration on them and eliminate the blank spots as to where major components come from.

On the T bucket a photo copy of the engine doner's title and the paperwork from when I drug the doner's hulk across the scale at the scrap yard eliminated any question of where the engine and trans came from.
The steel yard receipt took care of the frame and so on.

I've been married for 41 years to the same woman and she doesn't much care what I spend on my cars, trucks or boats as long as the bills are paid first and she gets to go somewhere fun in one of them when it is up and running.

 

I have mixed emotions on this one as I have earned income doing tech features for magazines using my cars. Obviously, by declaring every dime of income, I have the opportunity to deduct certain expenses. I used to keep exact expenses, but the statute of limitations has run out! I no longer keep any records on builds, projects or travel expenses related to cars. Get into wooden Chris-Crafts and you'll appreciate how cheap it is to be a traditional hot rodder!

 

After I die my wife will sell my cars and tools real cheep because I told her over the years I got all this stuff for almost nothing,LOL. If she only knew! My latest project a 27 T coupe, my buds have donated tons of parts to.How do you put a price on that? Money sucks because I never have enough to buy hot rod parts I want,LOL.

 

Yes I do,besides I don't have a wife and I like to drink.