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

Discussion in 'The Hokey Ass Message Board' started by FatfenderJ, Nov 14, 2010.

  1. ...yes on somethings nice to look back then look at cost then to now,and dont tell the ball amd chain!!!
     
  2. cowboy1
    Joined: Feb 14, 2008
    Posts: 914

    cowboy1
    Member
    from Austin TX

    I do on most purchased but ,not on every single nut & bolt or rattle can paint etc.
     
  3. cowboy1
    Joined: Feb 14, 2008
    Posts: 914

    cowboy1
    Member
    from Austin TX

    I do this also!
     
  4. 19Fordy
    Joined: May 17, 2003
    Posts: 6,924

    19Fordy
    Member

    YES. They helped me get insurance coverage when car was being built.
     
  5. 5window
    Joined: Jan 29, 2005
    Posts: 7,609

    5window
    Member

    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.
     
  6. rixrex
    Joined: Jun 25, 2006
    Posts: 1,433

    rixrex
    Member

    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..
     
  7. Wolfman1
    Joined: Jul 8, 2010
    Posts: 265

    Wolfman1
    Member

    I keep all the receipts in a drawer in the garage and never add them up.
     
  8. FityFive
    Joined: Aug 9, 2010
    Posts: 306

    FityFive
    Member

    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.
     
  9. Oldsmobucket
    Joined: Dec 11, 2005
    Posts: 330

    Oldsmobucket
    Member

    no way just keep part numbers
     
  10. flatoutflyin
    Joined: Jun 16, 2010
    Posts: 385

    flatoutflyin
    Member

    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.
     
  11. oldman2
    Joined: Sep 9, 2010
    Posts: 2,373

    oldman2
    Member

    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.
     
  12. Local104
    Joined: Apr 1, 2010
    Posts: 40

    Local104
    Member
    from norte ca

    me too
     
  13. S.F.
    Joined: Oct 19, 2006
    Posts: 2,894

    S.F.
    Member

    I guestimate...and mostly ignore the fact that Ive spent a shit load.
     
  14. curiousgeorge
    Joined: Nov 11, 2010
    Posts: 4

    curiousgeorge
    Member

    lesson learned. Next truck is done. They can pay for it. Iam into it for 35000.00 and its only worth 18000.00
     
  15. dwaynerz
    Joined: Nov 16, 2006
    Posts: 235

    dwaynerz
    Member

    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.
     
  16. Toptinman
    Joined: Dec 26, 2005
    Posts: 477

    Toptinman
    Member

    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."
     
  17. phukinartie
    Joined: Oct 8, 2008
    Posts: 965

    phukinartie
    Member

    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!
     
  18. You have a budget? I mean, keep track?...:D 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...).
     
  19. CH3NO2JAY
    Joined: Feb 28, 2008
    Posts: 244

    CH3NO2JAY
    Member
    from Chicago

    I personally have a 3 ring binder with dividers and folders to keep receipts, notes, pics, etc etc etc...
     
  20. sololobo
    Joined: Aug 23, 2006
    Posts: 8,133

    sololobo
    Member

    I am not that brave! What I don't know won't hurt me! ~Sololobo~
     
  21. 39 tow
    Joined: Feb 19, 2009
    Posts: 15

    39 tow
    Member
    from Utah

    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.:D
    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.:cool:
     
  22. Sam Navarro
    Joined: Jul 16, 2009
    Posts: 758

    Sam Navarro
    Member

    Not no but HELL NO! That would be CRAZY!!!!!!!!!
     
  23. burnout2614
    Joined: Sep 21, 2009
    Posts: 612

    burnout2614
    Member

    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
     
  24. Mr48chev
    Joined: Dec 28, 2007
    Posts: 27,533

    Mr48chev
    ALLIANCE MEMBER

    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.
     
  25. denis4x4
    Joined: Apr 23, 2005
    Posts: 3,552

    denis4x4
    ALLIANCE MEMBER
    from Colorado

    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!
     
  26. LOW LID DUDE
    Joined: Aug 16, 2007
    Posts: 1,222

    LOW LID DUDE
    Member
    from Colorado

    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.
     
  27. LOWDUG37
    Joined: Jan 31, 2007
    Posts: 863

    LOWDUG37
    Member

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

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