Vintage Mustang Forums banner

1 - 20 of 26 Posts

·
Premium Member
Joined
·
5,242 Posts
Discussion Starter #1
After drooling over the many pics and links to the cars owned by the VMF crowd, I'm amased at the quality and condition of what's out there. This got me to wondering just how much the average Mustanger is spending in the course of a year on his project/baby. I know I'd love to be lavishing 5 digits on mine, but family, home and life just don't allow for it, so how does everybody else do it?
So, getting to the point, if its not too personal a question, just how much are you guys (and gals) spending a year? And please average it out over the time you've had it. In other words, if this year you've spent $10,000 because you've dropped a crate motor in it and had it painted, but last year only bought floor mats and a gas cap, you've averaged $5,000 a year in the last two years. This budget does not include the cost of the car, either. If you have a yearly budget for that, too, then go for it and list it seperately!
 

·
Administrator
Joined
·
19,493 Posts
I'm supposed to keep track? Yikes!!! ::
 

·
Registered
Joined
·
1,033 Posts
Maybe a better question is how in the heck do you guys get SWMBO to go along with your spending?

That's the secret to their success. I think we can all find the money. It's just how do we get it out of her hands?
 

·
Gone but never forgetten
Joined
·
25,239 Posts
Last count on my '66, which was several years ago, I had $21k into it, including the $500 I paid for it, and I'm sure that was several thousand $ ago (I got freaked out and have never looked again ::). I've had it for 7 years, so I guess we can say I have $3k a year on it.

My anual budget on my sportsroof is $0. Not exactly true, but it sure seems like it, since there's very little car money left over after working on the other 3 daily driver Mustangs, and maintenance on the 4-Runner and the boat each year!
 
K

·
Guest
Joined
·
0 Posts
I doubt if many put a budget together. I promise myself one upgrade each spring with small items thrown in during winter. Next spring...aluminum rad. ::
 

·
Registered
Joined
·
26 Posts
Well, I think I've spent about 1,300 this year so far, but thats probably low for the board seeing as I'm a college kid with a valet job sometimes (and no wife). When I did have a girlfriend I kind of felt that there was a competition for my attention. If I had more I would give it more.
 

·
Registered
Joined
·
7,978 Posts
Round figures:

Insurance during the summers $350 (currently).

Upgrades $50 to $400 annually.

Gasoline (summers) about 2,000 miles worth.

Taxes, fees, registration, etc. $100 annually.

Last year I spent $6,000 on repairs/restoration - but I've owned the car for about 26 or 27 years now.

In the late 1980s I spent a fair bit on the engine, maybe $2,000 back then, the equivalent of about $4,000 now-a-days.

A new top in the late 70s ($500 back then) - needs to be done again.

I put new seat covers on it in the mid 1980s - I don't know how much they were.

Various repairs over the years would come out of the $50 to $400 annually.

This summer I'm doing a front disc brake upgrade in lieu of driving/insuring it (still insured for storage/comprehensive though).

John Harvey
 

·
Registered
Joined
·
480 Posts
Well see, Im 21, and in college. Therefore most of the budget is determined by my car enthusiast father who actualy LIKES paying for parts for my car(thank god for cool fathers). Anyway, i just managed to land a 4 hour a week job that ill be getting $80 a week for. Sooo.. probably $79.86 of that will be going towards new car parts.
 

·
Registered
Joined
·
1,963 Posts
We bought our kids' '65 fb in November 2001 for $2500 and between April 2002, when the project really got underway, and last May, when I pronounced it road-worty, we put in another $15,000, easily. But other than rims and tires there are no further expenditures in view. So you could say we averaged $5,000 per year, which would be misleading since the money all got spent in 25 months. Or you could say we averaged $7,500 per, which would be misleading because no more real expenses are going to be happening for the next five years.

How did I get my wife's cooperation? I think after 24 years together she's given up trying to hector me about every little expense. We both are frugal at heart and we've got the money (sorta), so we just kind of lurch along without any discussion or friction.

7
 

·
Registered
Joined
·
1,538 Posts
My spending on my car this year has been non stop. I got my fastback in Dec 2003. Purchase price was $5000.00. Since then I have spent money on three sets of wheels and ending with some 17 x 8 Troques thrust. I also have done a 4spd to 5spd swap. Replace my whole suspension. I have spent about $7000.00 this year. I also purchased a 96 Cobra for daily driver when I sold my 91 LX coupe. I sold the coupe to keep from spending money in two directions. I guess you can say my car budget needs to slow down a bit... I have decided the fastback gets the best, it is a retirement present to myself...
 

·
Registered
Joined
·
3,897 Posts
Purchase: Freebie, nothin, notta...(I wonder who had the last laugh...!)

Restoration
Year 1 $1000.00
Year 2 $2000.00
Year 3 $3000.00
Year 4 $4000.00

So far I will have over 10k stuck into the car since the beginning of the resto. I'm one of the odd balls and roughly keep track of the restoration costs......

Future
Year 5 $5000.00????? I hope not!!
 

·
Registered
Joined
·
1,614 Posts
Once...and only once I kept track of restoration costs. That was on the '55 Harley in my pic. After seeing that total $ I swore I would NEVER do it again :D It's only money after all ::
Dave
 

·
Registered
Joined
·
620 Posts
Hummmm.. Well the 68 Fastback GT I got 18 years ago for a cool 1500.00 in the past 18 years I put about 2500.00 into it as it sits today. The 69 Mach 1 and the Convertable I just picked up this year.MAch cost me 8500.00 and the 68 Vert I picked up for a measly 1500.00 which I was at the right place at the right time for that one. Put about 1200.00 in the vert for the new hood,LF QTR Panel and the front end grill & Molding, New radiator and hood latch. The 69 Mach I have put about 1400.00 into it for interior panels,Getting it mechanically sound and finding all the parts to get the A/C going on it again as it came with everything missing on it as well as all the front chrome.

So I figure with out the purchase prices this year I spend about roughly $3000.00 a year on the newest ones. HAving 2 young kids daughter 5 and Son 1 Takes a big chunk out of the budget now and hopefully the SWMBO will be back to work soonI hope. She has had a 3 year vacation now. ::
But still cheaper then 2 kids in day care.
 

·
Registered
Joined
·
721 Posts
After the mortgage and bills there's not a lot left for the pony. Every summer there's insurance, gasoline and occasional maintenance (headlights, spark plugs). If it's not a bad year I may invest in a few small improvements (Pertronix II last year, clutch fan this year).

I'm not complaining, though! Parts are cheap, labour is shade-tree, and the fun is WELL worth every penny! "Cheaper than golf" I always say.
 

·
Registered
Joined
·
3,595 Posts
Just a note to those who haven't figured out how to do the Mustang thing yet. Justification is easy when it's your driver, and if you've owned it long enough. Lets take a more comprehensive look at the costs:

I paid $700 for the car 26 years ago. Since then, I've probably put around $7000 in it (SWAG). In this time, it has appreciated at least as much as what I have in it. So, not counting insurance, net cost to drive my favorite car is $0, nada, zilch, it's free! :: ::

Okay, take it a step further. During those 26 years, if I didn't have the Mustang to drive I would have probably bought a new car every 6-7 years, at a cost of $6000 (back then), to over $20,000 (more recently). Just figure 4 new cars at an average of $13,000, for a total of $52,000. Subtract about 30% from that cost due to trade-in value of those new cars (that I didn't have to buy), so I saved somewhere in the neighborhood of $36,000 by driving the Mustang.

Now I ask you, how could I justify NOT driving the old Ford? The numbers above make it a no-brainer to keep it in good shape. And no, my wife doesn't give me any grief when I say I need to do work on the car. She's got a calculator too! ::
 
1 - 20 of 26 Posts
Top