Hot Rods Ever add up your receipts?

It's cold and no heat in the garage so I was wondering where do I stand $$$$$ wise.
Summit $ 2,214.47
Speedway $ 2,071.07
All others $ 7,878.28
Total $ 12,163.82
Started the project 5- ??- 2013
Just need to finish the gas peddle linkage and bleed the brakes then take it round the block.
Not reedy for state inspection but close.

 

I've pretty much decided that a receipt is made to put away and NEVER look at it again.

 

Unless the part goes bad.
-Pat

 

i keep all the receipts in a file folder , but hardly ever look at them or add them up....i learned my lesson when i added them up on my `28 Tudor many years ago

 

Actually, on the flipside i have a list of things to buy, with dollar signs atatched. Thrashing in the garage and driveway, on side-jobs, to just get my Olds Rocket engine, back together. I'm a bit OCD, so I do keep all the receipts, in a folder that I put together for the entire car project.
JT

 

I never wanted to know.
After I sold a Ford I once owned I GUESSED that I had about $30,000 in it.
The next owner totaled up all the receipts I passed onto him and later informed me it was closer to $40,000.
Not a very good feeling.

 

I record every penny spent on a car, and at its sale, I usually manage to break even. It costs money to go fishing, bowling, and hunting goose. If I don't goose myself too badly on a car, I'm ahead.

 

I keep a file folder on every car I build. It contains all receipts for parts along with the instruction sheets or books that come with parts or kits. I also take lots of pictures before and during the build for reference when putting something back together and forget where the parts fit. After the build I burn the pics to a CD and keep it with the folder.
When I sell or trade the car I have all of the build info for the new owner and I can prove certain things were done, it does increase the value or make it easier to sell. Most of my past builds took about three years but as I grew older it takes a little longer. Sometimes you change direction in the middle of a build and it stretches the completion time so start with a plan and try to stick to it. It also helps to have more than one project so when you get burned out on one the other offers a break.

Just my opinion.

 

I reread the thread and figured out you were asking about receipts...I kept almost ever receipt over a 9 year period of building the wagon in one drawer of a filing cabinet.

I looked at the 7 folders full of receipts in that drawer and decided I didn't want to know how much I spent building that car. HRP

 

I took the woodie to a garage Monday.I made a bad mistake when I said"Fix whatever you find wrong w/it.I don't give a S*** what it is,fix it".
I'm ashamed to tell you how much the receipt is for.. But I got what I asked for,a great running rod.

 

I keep a folder on each car I build and never add them up. I'm afraid to see the total and it doesn't make any difference if you are happy with the finished product. I do most of my own work and if I figure my labor at $.10 an hour they all cost more than they are worth but what else can I waste my money on that I enjoy.

 

I have a folder from the previous owner of my coupe. I haven't added everything up yet, but I'm guessing in excess of $40,000. On top of that I've spent a few hundred on parts that needed to be replaced. (Locking door & rumble seat handles, inside mirror etc.) Considering what the previous owner put into building this car, I think I got a pretty good buy at $25,000.

 

Take your receipts and stash them in a safe place where your wife can't find them. Never look at them again unless you have a warrantee claim on a part. Never add them up. Nothing could be more irrelevant and demoralizing than adding receipts.

 

I keep all the ones from major purchases,but I would be afraid to add up all the receipts,I'd probably get mad at myself!!!I have had my Comet for 47 year now,been through a lot of changes in that time!! ROY.

 

I try to keep all receipts but I often buy parts for more than one project at a time which makes it difficult to keep track of individual costs. I do put the receipts in the binder I keep for each my cars but I do not keep an accurate total. When I work on friends cars I have to keep track of costs though . I enjoy spending their money much more than spending mine.

 

I would prefer not to know. If I can afford it at the time, the total cost is irrelevant. Obviously when you want to sell it it would be handy I guess.

 

One thing overlooked about receipts. Keep them all in case you ever get a visit from the tax man when you sell the car you might need them. I sure wish I could make a profit with my cars but that never seems to be the case.

Charlie Stephens

 

I try not to, it would keep me from spending what I do on these cars. My wife added up one time what it cost me to build a motor for my old drag car and when I realized what that cost me........... I do not drag race any more LOL

 

Keep them all for various reasons and always add up the total-It always cost more than I anticipate. Have built a few 40's (about 1 a year) and each one costs considerably more than the last due to price increases. Keep a running log in an old bank register with lots of pics in progress.

 

I agree. I once "glanced" at mine for the '40 when it was almost complete. I'll never do that again!

 

I try to keep receipts for part numbers, source and date of purchase/installation information.
Never totaled them up though.

 

I have all of them for my coupe but never want to add them because I know I spent way more than planned. I do use them for reference though.

 

I keep all my receipts. My wife will add them up at the end of the project. Its easier to put a price on the car when you know what you have in it. I've done this my last 3 cars, sometimes its funny to see how far off my estimates are.

 

Spot-on brother! Most guys don't realize that their lack of a plan or some sort of organized attack shows up in the finished product...and it is usually very clear in their "build style".

 

Have them all in a big file folder as well, don't plan to add them up. I have a general idea, though. I started with a $200 car and though to myself, "Well this won't be too bad." I think that purchase was one of the cheapest.

 

Agree with Jibs-do it in a similar way.

 

Only if I want to get sick...

 

I usually just go down to the basement and find what I need.

 

I try to keep the receipts, or at least a ledger, with description and part numbers and sources. I had to replace the torque convertor in my 47 a couple of months ago, and used the part number off of the original receipt to order the replacement.

 

A friend suggested I keep a financial and photo record of a build I did twenty years back. I got so depressed at the amount of money I had spent I stopped doing it.