Unfortunately the popular TV "reality" shows make many believe our hobby is a lucrative business in disguise, making thousands of dollars for a week or two's work bolting on some new parts. That there are buyers with pockets full of cash just standing in line waiting for the next one to roll out the door, and there are no labor or overhead costs, it's all profits.
As the saying goes if it really was that easy everybody would be doing it! Funny, I don't see a hot rod shop on every corner around where I live, or a rich hotrod builder.

 

when someone asks about getting your money back or making a profit you can compare it to buying a new car, how much do you think you'll get for it when you sell it? i have a friend with a nice boat. it would cost ~$3,000 to dock it at the local favorite lake. he keeps it at home. last summer he spent money to have it prepped, took it to the lake 2x, had it back in the shop, then into paid storage. my golf friends tell me their cc memberships amount to $100 per week whether they play golf or not. i drive my truck, enjoy working on it, don't care if i spend some money on it and it will be worth something when i'm done. 8 months a year, i can look out and see it in the driveway. OH, and forgot to mention, i get to hang out with and learn from all the FTE folks.

 

Mine are definitely worth more BEFORE I start working on them!

 

Mine are usually worth a bit more after because I don't recall ever buying anything that runs. Then the obsession, I mean hobby begins.

 

If you're building a car or truck to make money, you're doing it all wrong. Unless you get lucky and find a real rich sucker. They're NOT born every day though, contrary to popular belief.

 

This has been the subject of a lot of conversations with friends lately. We've seen quite a few cars lately that considering all that had been done to them you couldn't duplicate the effort for anywhere near the price they were asking.

Even though my build has been done on the cheap, it has still cost more than I would have ever thought. Just adding up all the nuts, bolts, washers and small hardware has cost far more than I would have guessed. Those small purchases can eventually build up to much bigger numbers than you would think.

But....I still enjoy the build stages, and I "will" know for sure what lurks under the paint and in the drive line.

 

Something I learned from a finanicial analyst. When you buy a new car you can expect to spend about $20,000 YMMV. You made a down payment and the car drops 20% of the sale price the minute it leaves the lot. You don't actually own the car, the finance company does. Since "they" own the car "they" tell you what kind and how much insurance is needed to cover "their" property. In addition, if it gets totated the insurance will rarely cover the cost of replacement. You could also end up making payments for a vehicle you do not own and cannot drive.

On the other hand, You can go out and buy a decent looking car for about $2,000. Spend another $2,000 having someone else make it dependable. Then insure the maximum pl/pd. The difference between the miminute and maximum pl/pd is very small. Save the difference in insurance payments between the "new" car and your purchase, and within 2 years you will have enought to buy another car. If your car gets totaled, sell it to the tow truck driver, go out and buy another one. (I have done this twice)

Thrown into the mix the fact the the average maintenance cost for cars is about $1500/year and our "hobby" starts to make some kind of economic sense.

If you keep and drive the truck for 10 years, the $15,000 investment is a write off.

Lastly, having exactly what you want and being able to improve or repair it yourself.

Priceless