Vision Too Big For Bank Account????

[ccracin]

I was talking to a board member last night and we started discussing the fact the we are seeing more and more unfinished projects showing up for sale. What's the deal? I understand the economy is bad and all, but I'm looking at this in a different light. Alot of these projects were started way before any of this happened. Some were already stalled before the bust.

My question is: Is it better to have a finished 40-70K car that you can drive and enjoy or an unfinished 150K+ car that you have to sell because you are 40-70K in and can't see the end of the tunnel?

Is this a product of poor planning up front, lack of knowledge in what it takes to get to a particular level of build, or was there a reasonable budget in the beginning and then things went south after spending many hours looking at build threads saying I want that or I need to get rid of this to get that or something else?

We are victims of my last scenario. We changed from a Big Block we had to an LS mostly due to my time on this site. LOL Is it going to be cool, hell yeah. Is it going to be alot more money, Hell yeah! I find myself now trying to treat our project more like I treat my projects at work. What is needed, what is wanted, what's the budget? I don't want to have a 50K pile of parts that I have to sell for 30 2 years from now.

I just thought I would throw this out and get some input. Maybe people starting builds or progressing along will be able to gain or keep some focus as they move forward.

Remeber, You can't have 1000hp TT taste on a 350hp Q-jet budget!

What's everyone think?

[Vegas69]

I've noticed the same thing lately. All kinds of projects not even half done with a boat load of quality parts. The fact of the matter is they will need to take a hurting of at least half to off load the project.

These projects take a long time to plan and execute. They Always cost more than you think. They are also the first to go in any hardship. This site is horrible for the check book. If I knew then what I know now, I probably wouldn't of built this car. I have to be honest. I have way to much money tied up in it. I'm my own worst enemy. Remind me to never build a custom house.

[ccracin]

Originally Posted by Vegas69

Remind me to never build a custom house.

Todd,

Absolutely! It's because of that my Camaro is still stock!

[96z28ss]

This board is such a bad influence. My project changed a bit thats for sure.
It will take me longer to finish, but Im not going to give up, I'm driving this damn car.

[ccracin]

Originally Posted by 96z28ss

This board is such a bad influence. My project changed a bit thats for sure.
It will take me longer to finish, but Im not going to give up, I'm driving this damn car.

I agree and disagree. This site has definitely cost us more money, but I don't think the project would be as nice as it is going to be with out this site. I think you just have to be diligent in managing your budget. Some may even have to develop a budget to start with. I've talked to several people that just strt building with no idea where they are going!

[camaro2nv]

Originally Posted by ccracin

I was talking to a board member last night and we started discussing the fact the we are seeing more and more unfinished projects showing up for sale. What's the deal? I understand the economy is bad and all, but I'm looking at this in a different light. Alot of these projects were started way before any of this happened. Some were already stalled before the bust.

My question is: Is it better to have a finished 40-70K car that you can drive and enjoy or an unfinished 150K+ car that you have to sell because you are 40-70K in and can't see the end of the tunnel?

Is this a product of poor planning up front, lack of knowledge in what it takes to get to a particular level of build, or was there a reasonable budget in the beginning and then things went south after spending many hours looking at build threads saying I want that or I need to get rid of this to get that or something else?

We are victims of my last scenario. We changed from a Big Block we had to an LS mostly due to my time on this site. LOL Is it going to be cool, hell yeah. Is it going to be alot more money, Hell yeah! I find myself now trying to treat our project more like I treat my projects at work. What is needed, what is wanted, what's the budget? I don't want to have a 50K pile of parts that I have to sell for 30 2 years from now.

I just thought I would throw this out and get some input. Maybe people starting builds or progressing along will be able to gain or keep some focus as they move forward.

Remeber, You can't have 1000hp TT taste on a 350hp Q-jet budget!

What's everyone think?

Im one of "those" But Im selling for health reasons. In a year or two I could finish it but I just hate to have it sit. I bought parts for the time were in. In a couple years who knows what new parts will be out. Then what are my parts worth?
I look at it like this. I dont have to sell it. If I dont Ill finish it later. But Im giving someone else a chance to build a car with top of the line parts for thousands off!

[XLexusTech]

Perhaps its because the price of finished projects is down driving folks to cut bait and look to pick up a nice car cheap

[XcYZ]

I also think a big part of it is time. It takes a long time to finish a huge project and I think a lot of people get burnt out on spending money over a period of years and never getting to enjoy it.

I've seen the exact same thing in the restoration side of the hobby, too.

[Stuart Adams]

The situation is multifactorial. First it takes twice as long to build. Within that time things come up and life can change, especially if its 2-4 years as most are. With those normal life changes over a 2-4 year period, money situations possibly change, creating whole new set of reality. Secondly, the project ALWAYS costs 2-3X more than you think. No matter what level of build it is. You combine a triple expense with a double time period and given the chances of life changes, cars get sold early, projects get put on the back burner, etc.

Love the PT cars. None better for me.

[J2SpeedandCustom]

Scott hit the nail on the head. The majority of projects get to that stage where the owner starts to justify the amount of money spent and the amount needed to be spent. Then you look at what you "could" buy with that money, and the doubt starts to creep in.

I tell all of our customer this, "How many times are you going to build (insert car make/model here)? Everyone always says "once". I say, "So then take your time enjoy the process and do what you want within your means." If it takes 10 yrs, then it takes 10 yrs. In the end you will have the car of your dreams and all those memories to look back on.

Some of the projects I see end up costing "double" when a clear plan isn't followed. I call that "scope creep". And this site is great at doing that. I see stuff on here all the time, that makes me drool! In my mind this is the NUMBER 1 thing to a successful project - staying on plan.