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'81 K5, "BlaZeus"- How to NOT build the ultimate budget K5; 3 & 4 link build

Greg72 said:
I don't follow Dave Ramsey, but I'm pretty sure he would advise anyone in the 4x4 hobby to stop building trucks completely.... :)
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Naww, he's not an investment advisor. He's basically telling people to not be dumb with debt. Really simple stuff. To those following him, I'd advise that you treat his curriculum as a starting point, an introductory course. Once you get good at low-debt living, then you graduate to the next level. Take those dollars and start building investment equity while you're young. There's no reason you can't retire at a crazy young age if you set your priorities up and stick to them.
 
Greg72 said:
No offense, but I think you are too personally involved with this project to be objective about its value.

We all love our trucks and think they are awesome, but how many of them EVER sell for a number like $10,000?? Almost none of them....even the ones that are fully-sorted with loads of desirable componentry.

This project has been a great education for you, and you've made a lot of mistakes and hopefully learned some valuable lessons about thinking-ahead and planning things out more deliberately. But the end result is a kind of hodge-podge of tubing, patches, and fixes with some pretty serious compromises as a result.

Enjoy it for what it is, but it would be a mistake to think of it as a $10,000 "insurance policy" against future financial problems.

I don't follow Dave Ramsey, but I'm pretty sure he would advise anyone in the 4x4 hobby to stop building trucks completely.... :)


-G
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Deuling said:
I agree with Greg.

Do not treat it as an investment. Even if you get it to be worth 10k, you will probably have 20k+ into it, and that doesn't seem very logical.
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jekquistk5 said:
K5's that aren't as chopped up are worth 10k. You have a lot of good parts, but you need a special buyer. Hell most built pre runners with way better parts are going for 10k.
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campfire said:
This is a good plan. Getting rid of the debt will pay dividends for the rest of your life. Even if you don't part with the truck, you don't hafta sink money into it any more if the jeep is ready to go. You can come back to the blazer in a couple years (or sell it and buy another one if you ever want it again). Might just find that you like the jeep enough you never bother with another K5. Or life might change and you might decide that you want something else (like how having a carseat means that I am now a huge fan of 4 door vehicles, K5s just aren't great in that department). So I would only keep the K5 if you are continuing to want the fab experience (this is a good investment, IMO). But I wouldn't sink many dollars into it, you already have a good rig. And when you get tired of fab work, sell the pieces and move on to something else, smarter and wiser for the experience.

One thing I wanna repeat, built vehicles are never an investment (unless you're custom building it for someone else). Nobody else will have your exact priorities, so they won't be willing to pay as much as you did. And people generally don't trust amateur craftsmanship (for good reason), so the further you get from stock, the more hesitant the average buyer will be when it comes time to hand over money. Expect to lose value on every vehicle you touch, new or old (unless you are like me and buy $350 vehicles, but that's more of a sweat-equity gig).

As for an insurance policy, vehicles are terrible, even when their value is accurately assessed. It's really hard to liquidate those funds, you hafta find the perfect buyer, and that takes time. It's not like pulling money out of the bank, or even the stock market.

Focus on getting good at life, you can build the perfect truck later, when you have more financial peace. I cannot overstate how great it is to have zero payments, positive net worth, and growing equity at a young age. It makes future decisions soooooo much easier to have finances straight.
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If I did sell it, I would make sure I get a 75 or older :rolleyes::thumb:
Thank you for all the wise words of wisdom! I really do appreciate them as I am just trying to figure this life/money relationship out, and Dave Ramsey's is definitely a step in the right direction and has opened my eyes to the reality.

I apologize. I must've misspoke as I do not think of Vehicles as a good financial investment or insurance policy against financial emergencies. I mean that's car hobby 101. It is a good investment into my skills and the dreams and passions that I have in life, but you all are right, that does not mean that it is a good investment for someone else's enjoyment. The only reason why I said 10k, it was more of an arbitrary number. I have no idea how much money I have in this truck and I obviously don't care to know because the amount of time, blood, sweat and tears is priceless and cannot be bought or paid for, and it is that, that I treat as an investment into my soul, and that's a price I'll pay every time.

I just feel like I have built something unique and yes, I know, the average Joe wouldn't pay $1000 for this rig, so I have no expectations. But, what I do know is I live in a town with lots of Latinos that, we all know, love hodge podge , patchwork vehicle art masterpieces;):rotfl: and also the redneck capital of California, Bakersfield, is just 2 hours inland and if you know about bako, these guys are redneck royalty with all their oil field money and anything that is big, loud, and can survive the zombie apocalypse, they gotta have their hands on:haha::waytogo:
 
BlaZeus said:
If I did sell it, I would make sure I get a 75 or older :rolleyes::thumb:
Thank you for all the wise words of wisdom! I really do appreciate them as I am just trying to figure this life/money relationship out, and Dave Ramsey's is definitely a step in the right direction and has opened my eyes to the reality.

I apologize. I must've misspoke as I do not think of Vehicles as a good financial investment or insurance policy against financial emergencies. I mean that's car hobby 101. It is a good investment into my skills and the dreams and passions that I have in life, but you all are right, that does not mean that it is a good investment for someone else's enjoyment. The only reason why I said 10k, it was more of an arbitrary number. I have no idea how much money I have in this truck and I obviously don't care to know because the amount of time, blood, sweat and tears is priceless and cannot be bought or paid for, and it is that, that I treat as an investment into my soul, and that's a price I'll pay every time.

I just feel like I have built something unique and yes, I know, the average Joe wouldn't pay $1000 for this rig, so I have no expectations. But, what I do know is I live in a town with lots of Latinos that, we all know, love hodge podge , patchwork vehicle art masterpieces;):rotfl: and also the redneck capital of California, Bakersfield, is just 2 hours inland and if you know about bako, these guys are redneck royalty with all their oil field money and anything that is big, loud, and can survive the zombie apocalypse, they gotta have their hands on:haha::waytogo:
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Cool. Keep taking steps, and you'll arrive at a really cool place (of YOUR choosing). :thumb:

I think the reason we jumped on you is that once you assign a numerical value to your truck, it's really not about the hobby anymore. I can tell you roughly how much money I have into my K10, and I could even take a guess at what its market value is. But I sure didn't set out saying "I'm gonna build a $10k truck even if it costs me $20k." I set out wanting to improve my sheet metal/bodywork skills. They were at near zero, they're now a little above zero (still not good by any stretch of imagination). I'm proud of the results, despite the many imperfections. I did that. That's the importance of this project. And the kinda silly thing is that I don't even have real use for a pickup truck, so the truck has done a lot of sitting since I ran out of projects for it. But the experience I carry with me as I move on to bigger and better things. :D


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I'm a little late with this reply... No dave Ramsey isn't a fun sponge. As @campfire mentioned already his main goal is to show you how to live and actually have fun without having to finance stuff. He even promotes having fun with your money and being able to have nice things but to be smart in doing so. In one of his vids he mentioned telling his kids that he will match whatever they save up for a vehicle and they did but it was way more than he expected. He still did his part and got the vehicle that they wanted rather than telling them they didn't really need it and to buy something cheaper. When we took the class I was not for it at all but after the first class I changed my mind. The biggest problem I have with it is letting go of things and sticking to what really works.
 
snore..... griiiiind..... bzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz.. driiiiiiiiiiiiiiiiiiiiiiiiiiiiiiil...


grind................................


...
 
ryoken said:
snore..... griiiiind..... bzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz.. driiiiiiiiiiiiiiiiiiiiiiiiiiiiiiil...


grind................................


...
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I kinda feel like this is a prompt from Pokemon and I just woke up a Snorlax or something....
 
Yeah, the way girls dress these days, you can never tell just by looking. Saw a picture of what appeared to be a smoking hot 20 something, then read the caption, it was a 14 year old kid!
 
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