Paying for parts/projects

[bigboi328]

I was wondering how everyone is paying for the parts on their truck. I want to put a diesel conversion that comes with everything and trans for $4500 and bags from airride for $2300... and not including some other things.. I will be at $11,000. I would like to do everything all at once, but don't know if I want to do a personal loan at 12% interest

[mrtoni]

I know it’s all over here he spectrum but I wonder too. Some guys are bringing home new projects all the time. I’m not an extravagant spender and make 120k per year minus 20k child support but I can’t afford a project that will end up costing me 15 grand in paint alone

[LT1 Burb]

I buy and sell anything I can to make money to fund a project. I have zero dollars from my paycheck in my truck, it all came piece meal one sale at a time.

[Clyde65]

I buywhat I have $ for and when I have all
Parts/funds for that part, I get it done even if I am paying someone else. Then the cycle starts over for the next improvement.

[bigboi328]

My problem is I want the diesel set up so bad, but for $4500 is something I just don't have cash for right now

[pimpston65]

i buy parts every time i get paid. i sell a few extra parts here and there, i also eat roman noodles to save for parts.

[Pinchecharlie]

Those guys up top have it right. You gotta roll one into another. You ever see that show where they started with2k and a couple years later did some exotic for 80k? Takes some discipline and luck and risk. My buisness plan is buy high and sell low so dont listen to me but after awhile you can at least buy or trade and not forwver be waiting on money better spent on a real investments. Buying "broken dreams" is a good way but i got no heart for that.i traded a restored 36 knucklehead and a 59 corvette (project car) for my house ! Could you buy a wreck or older diesel for the swap? There's a build on here where the guy dies that. Maybe just do Schrader valve rear end for starts. I bought all my acuair stuff and bags on a mini truck forum classified for a lot less than new. I dunno ? Sucks though I hear you. Some guys tool boxes are worth more than my truck for sure.

[Railroader]

Project on trucks are like everything else. It's not the "needs" that can we can get carried away with but it's the "wants". I always put the a time rule on pondering how bad I really really Want it.

With a personal loan at the figures quoted, looking at around $250 monthly payment for 5 years, for payback of $15,000. Again, how bad is the "want"?

I'm retired and pay as I go. That's just me

[Macdaddy1]

My rule is never ever take a loan out for toys. I am a professor at the local college and mow lawns 3 days a week for my extra money and sometimes paint houses in the summers.

[Cooper197]

I only allow money made on cars to pay for my truck. I have access to the local dealer auction and flip cars from there when the right deals come through. I take what I make on those, make the payment on my daily driver and insurance for all cars, then whatever is left can go to paying for old car projects. Money from my real job (Real Estate) is strictly prohibited from being spent on project cars.

[oldtrux]

Originally Posted by pimpston65

i buy parts every time i get paid. i sell a few extra parts here and there, i also eat roman noddles to save for parts.

too funny!!!
hey,i love ramen noodles lol

[PGSigns]

I have done side work for the last 35 years to support my hobbies. My pay check has been for the household stuff with a small piece going into my Christmas savings account every pay day. Never know when you need to buy your truck something for Christmas. I have done welding, machine work, mechanical repairs and signs on the side. No way could I have supported all the racing I did with out the side work. I always paid as I went. If it took a few years that was fine.
Jimmy

[nsb29]

I make these AC adapter manifolds to help support my habit oh and by the way my habit needs support LOL

[bigboi328]

Man everyone is so right. I really screwed up. I did the same thing as a lot of you and don't touch the main money and the side work supported my guns. Now I'm pretty good with my guns and will not sell them.... you know ( 2a and MURICA ) but I'll talk with the wife and see if I can teach down at the union school for some extra money... the reason for the loan.... we went from zero kids to a adopted 5yrd nephew and money is tight right now... so my savings was blown in court fees..

[flashed]

I carry no debt ,drive older beaters that I pay cash for , I have 1 rental property that is paid for ,and I do side work plus I buy , sell and trade on these old trucks .

[Popcorn W]

I'm like everyone else here who gave advise.
I flip cars, restore cars and sell them, sell parts, etc.
It all goes into a separate bank account so I can keep track of it (well, actually so the wife can see it) and I have never used household money.
Forget the loan. Get to work and earn some fun-money, then you can play, not before.

[Clyde65]

Originally Posted by bigboi328

Man everyone is so right. I really screwed up. I did the same thing as a lot of you and don't touch the main money and the side work supported my guns. Now I'm pretty good with my guns and will not sell them.... you know ( 2a and MURICA ) but I'll talk with the wife and see if I can teach down at the union school for some extra money... the reason for the loan.... we went from zero kids to a adopted 5yrd nephew and money is tight right now... so my savings was blown in court fees..

God bless you for adopting your nephew! I have two adopted and love them as much as my birth child.

[Robert Haas]

Honestly, if it is "disposable" I spend it on what makes me happy. My bills are paid, my retirement is paid into, and my mortgages are getting paid off. so if building a truck or adding to the shop makes me happy,... then that is what I do. Afterall when it is all over and I can not get out and play with my tools and make stuff, what was life about in the first place?

Justifying my choices to a person that is on the outside of my skin is a waste of energy.

People spend fortunes on travel, but when they get home, besides some pictures and memories what the heck did their hard earned money leave them?

My shop, my builds, and my tools are all hard tangible things that will make for a nice asset to my heirs.

[jayoldschool]

Originally Posted by bigboi328

My problem is I want the diesel set up so bad, but for $4500 is something I just don't have cash for right now

Wanting something and affording something are two completely different things. DO NOT put mods on a loan (especially at a RIDICULOUS 12% rate). Get your truck running and driving safely and reliably, then start SAVING for mods.

[66chevy43]

Originally Posted by pimpston65

i buy parts every time i get paid. i sell a few extra parts here and there, i also eat roman noddles to save for parts.

Eat ramen noodels LMAO

I buy parts one at a time, takes years to finish. I'm five years into mine and still saving for my next part! LOL Maybe i need to eat some RAMEN NOODLES like Pimpston65!

[pimpston65]

Originally Posted by 66chevy43

Eat ramen noodels LMAO

I buy parts one at a time, takes years to finish. I'm five years into mine and still saving for my next part! LOL Maybe i need to eat some RAMEN NOODLES like Pimpston65!

they are tasty.

[bigboi328]

The wife won't go for noodles, but where are the people looking to buy a kidney or testicul. Didn't someone sell one for 30k

[oem4me]

Buy something for a dollar, sell it for a dollar and a half. Easy. No need to fear spending money, fear being stupid. Same principal applies with bigger numbers. Just don't put in what you can't get back out, OR don't need to get back out. After all, we only get one go-round here, might as well make it interesting!

[shp4man]

My strategy was to find a truck that was the all too typical ugly, run down, cheaply repaired with bailing wire pile of crap that the PO couldn't patch up any more due to lack of mechanical skill.
Then test the basics- engine compression, condition of the tranny, rear axle and front end.
Then if it tests OK, buy it cheap, keep it stock, and repair the things that make it go down the road first. A little bit at a time.
I have about $5K total in my truck now, and I wouldn't be afraid of driving it across the country.

Edit: And maybe eat some Ramen along the way.

[aerotruk63]

My truck has been a project since 1986. Patience or work harder and smarter.