Keeping Motivated?

Sarge103 · Aug 9, 2012

Well I guess this is kind of a vent and post at the same time, I have been saving up for a year for a fox body and had a good amount saved to buy pretty decent one judging by the market on them. Well a family emergency came up and I had to spend money on part of a medical bill that my insurance company didn’t cover. So I’m back to square one and will mostly likely wont have enough money for a fox until next spring. I was just wondering how long did some of you guys have to wait before you had enough cash for your own fox and what did you do to stay motivated? I was really pumped to go out looking for one this past spring but family comes first. I make good money but the allotted money I put into the stang account is only about 300/month so it’s a slow process. Just seeing how some of you guys with life’s priorities maintain the focus of saving up the $$$ for the fox you want.

boostfrk · Aug 9, 2012

Took me 7 years to finally convince my wife on the 3rd car/project car idea. Needless to say, waiting was the smart way to do it. We're way ahead on our 401(k)'s, IRA's and savings now because of it.

At the end of the day very few of us will ever earn enough money where we can just drop the cash on a car without having to think twice about it; at some point you just have to do it. The key is to be able to do it and not have the purchase leave you up **** creek if something comes up immediately afterwards, like medical bills.

Having to take the time to save up for the car will make you appreciate it more as well once you finally do get it. You'll know you worked for it.

Onefine88 · Aug 9, 2012

I was fortunate to be in my early 20's when the Fox cars were new. I bought my '88vert "new" as our family car and my wifes daily driver at the time. Thankfully we kept it when we needed a more practical vehicle back in the day and bought something else. Its been our "backup car" ever since.
But, I always wanted a Saleen.
Of course like you and most people, there is life, a house to buy, a daughter to raise, save for retirement, ect, ect, ect, ect.
So,, long story short it took me until '04 to save enough disposable cash and get the "thumbs up" from the wife to finally purchase my '89 SSC.

Hang in there, stay the course, and the opportunity will present itself sooner or later.

Sarge103 · Aug 9, 2012

boostfrk said:
Took me 7 years to finally convince my wife on the 3rd car/project car idea. Needless to say, waiting was the smart way to do it. We're way ahead on our 401(k)'s, IRA's and savings now because of it.

At the end of the day very few of us will ever earn enough money where we can just drop the cash on a car without having to think twice about it; at some point you just have to do it. The key is to be able to do it and not have the purchase leave you up **** creek if something comes up immediately afterwards, like medical bills.

Having to take the time to save up for the car will make you appreciate it more as well once you finally do get it. You'll know you worked for it.

I def agree that when i finally have the money i will be able to buy the car without any financial worries since i set aside the money specifically for a fox project, with an emergency fund already in place.

Sarge103 · Aug 9, 2012

89SSC18 said:
I was fortunate to be in my early 20's when the Fox cars were new. I bought my '88vert "new" as our family car and my wifes daily driver at the time. Thankfully we kept it when we needed something more practical back in the day and bought something else. Its been our "backup car" ever since.
But, I always wanted a Saleen.
Of course like you and most people, there is life, a house to buy, a daughter to raise, save for retirement, ect, ect, ect, ect.
So,, long story short it took me until '04 to save enough disposable cash "and get the "thumbs up" from the wife to finally purchase my '89 SSC.

Hang in there, the time will present itself sooner or later.

Im hanging in there... I had an idea i think if i write down a detailed plan/goal for the project and research how to reach that goal it will keep me motivated and i will be ahead of the game when i purchase the fox.

StreetsideStig · Aug 9, 2012

For me it's just remembering that driving an awesome car is part of my identity. It's the art and beauty of the thing. Yes, I have to eat, I have to pay the bills, but there's something missing.

Sarge103 · Aug 9, 2012

StreetsideStig said:
For me it's just remembering that driving an awesome car is part of my identity. It's the art and beauty of the thing. Yes, I have to eat, I have to pay the bills, but there's something missing.

Totally agree

RangerJoe · Aug 9, 2012

11 years. I almost bought a 92 coupe, aod car, when I was 15, fixing to turn 16. It had just been repainted, pretty quality job, and was stock except for Flowmasters. Guy wanted $6k for it (1999), but agreed on $5k. I had $1500 saved from my summer job, and got approved for the rest through a co-signed loan. Then the insurance cost knocked me on my rear. They wanted $200 a month for full coverage on a 16 year old with a Stang, so I got a ranger instead.

I always kept up with them though. I had friends and family that had them, I read the magazines and I went to races. College came, student loans came, I got married and we bought a house. I paid off all my student loans and I paid off my wife's new Acura two years early. Finally, nothing but a house payment. I thought, here I am, this it, I'll finally buy one. Then the baby talk started. But, my wife being the good woman she is, told me that she wanted me to buy a Mustang first, and have it paid for. We saved hard for about 6 months. The entire time I searched. Then I finally found it, 4 hours away. So with cash in hand I went and bought her. Month and a half later, we were pregnant.

Now, I have a beautiful daughter, a great wife and my Mustang. It took 11 years to get here, and that makes it all the more enjoyable. Family always comes first!

Joe

Sarge103 · Aug 9, 2012

RangerJoe said:
11 years. I almost bought a 92 coupe, aod car, when I was 15, fixing to turn 16. It had just been repainted, pretty quality job, and was stock except for Flowmasters. Guy wanted $6k for it (1999), but agreed on $5k. I had $1500 saved from my summer job, and got approved for the rest through a co-signed loan. Then the insurance cost knocked me on my rear. They wanted $200 a month for full coverage on a 16 year old with a Stang, so I got a ranger instead.

I always kept up with them though. I had friends and family that had them, I read the magazines and I went to races. College came, student loans came, I got married and we bought a house. I paid off all my student loans and I paid off my wife's new Acura two years early. Finally, nothing but a house payment. I thought, here I am, this it, I'll finally buy one. Then the baby talk started. But, my wife being the good woman she is, told me that she wanted me to buy a Mustang first, and have it paid for. We saved hard for about 6 months. The entire time I searched. Then I finally found it, 4 hours away. So with cash in hand I went and bought her. Month and a half later, we were pregnant.

Now, I have a beautiful daughter, a great wife and my Mustang. It took 11 years to get here, and that makes it all the more enjoyable. Family always comes first!

Joe

Well hell that makes waiting til next spring (9months) not seem that bad at all

91TwighlightGT · Aug 9, 2012

I was able to buy my GT when I was a senior in High School. I saved about half of what I needed, then it took me a summers worth of work to be able to pay it off back then. I didn't really have a lot of bills at the time, so that was pretty easy.

My 93 LX project only cost me $750 up front, but it is rough. I will still have a fair amount in it when I am done, but the nice thing about projects like this is that you can spread the cost out over time.

The one thing I have learned from these forums is don't jump in too early. It is depressing to see all of the half finished projects and 5+ year builds that slowly grind along due to lack of funds. In most cases, it seems that the biggest hurdle is realizing the total cost of the build up front. Most people underestimate the amount of money that it will take to get their project off the ground, and then lose their interest as the years go by.

So, my recommendations...

Start by laying out the goals of your project. A nice cruiser, a fast streetcar, or a race car.

Have a figure in mind that you want to spend on your car up front. Find out what cars are in that range so you can estimate the amount of work needed.

Figure out the costs of the parts and pieces that you will be using for your build. Don't forget regular maintenance items (ball joints, steering racks, etc.) because they will become part of your build, whether you like it or not!

If the build is going to be extensive (engine swap, paint, etc.) add 20 percent to the cost for the unforseen.

Hang in there, these things will be around for a while. If you are patient and consistent about saving, you will get there eventually.

Sarge103 · Aug 9, 2012

Well my goal is def in the street/strip category I'm more for function than form. Its purpose is going to be straight line performance. So it's going to be a loose suspension with the most cost effective combo to reach low 11's. I'm pretty meticulous so I know it's going to take some time to get the car right where I want it.

jadigen · Aug 9, 2012

hang in there man.. the wait will make it that much better when you get one.

88LX5.Oh · Aug 9, 2012

I spotted an '89 GT on the side of the road. Couple days later I went and looked at it. I instantly fell in love with fox body Mustangs. I told my dad he needed to look at it with me and he did. Right in front of the owner, he called it a POS and said he wouldn't even give $300 for the car (owner was asking $950). My dreams were crushed. The owner then showed us this "'88 parts car" that he had out back. Ended up being in 15 times better shape ('89 had the wiring under the dash ripped out and lookin' like an afro and the front end was crushed in a little from a wreck. plus it was an auto) The '88 had a straight body, never been wrecked, completely stock engine, T5, and no rust. The next day I bought this "parts car" for $700. It sat for 6 years before I came along, the night I bought it, I put a battery in it and started it. It barely ran lol. That was over a year ago. I've had to put thousands of dollars in it and I've done all the labor, so it gets VERY expensive. Is it worth it? I don't know yet, still haven't driven the car much. I drove it to the exhaust shop and then back (car was still speed density then so it was a disaster).

Many times I've wanted to just give up all together and cut my losses. But the next day I'll think "I can't get rid of this thing". But, once you actually buy one, that'll be all the motivation you need. Just hang in there, you'll get your car.

Sarge103 · Aug 10, 2012

I really appreciate all the motivation and encouragement ill just keep plugging away and rebuilding the stang account and come april/may ill have a fox of my own.

CarMichael Angelo · Aug 10, 2012

I was gonna try and answer this last night on my iphone, but that proved to be a waste of time. ( stupid, tiny buttons,...stupid, tiny screen).

Coming from another side, there will most likely always be some other emergency that will eat your savings stash before you get enough stockpiled to buy a decent car. (life happens).
Common consensus seems to be somewhere north of 5k, if you want to be able to "buy and drive" the car you purchase, and I think settling for a project car for less, typically ends up w/ the thing never getting done, taking up space in the garage.
There are several creative financing alternatives out there to allow you to realize your dream w/o it eating up your budget. I see you are a service member, and I would think that broadens things even more.

A hobby car can be one of several things, and it wont take alot of searching here to differentiate between the choices you have.
#1. you can save 300 a month for 2 years, and provided nobody needs braces,..gets sick,..moves,....loses their job,..needs to pay their tuition,... or dies,.....in 2014,...you'll have 7200.00 saved and have a damn nice car that somebody else has put a ton of money in before you.
#2 You can take what you currently have and buy somebodies bailed out on project, and continue to funnel your 300.00 monthly into it to build it the way you want,...accepting that you may have to drive a "less than stellar" car until you get it the way you want.
#3 you negotiate a loan using your house as collateral (it's called a HELOC). and get what you want tommorrow, and use the 300.00 you are currently "saving" as your payment,..take the interest on the laon as a deduction on your taxes, and take any additional monies and buy that new dishwasher at the same time.

Sarge103 · Aug 10, 2012

madmike1157 said:
I was gonna try and answer this last night on my iphone, but that proved to be a waste of time. ( stupid, tiny buttons,...stupid, tiny screen).

Coming from another side, there will most likely always be some other emergency that will eat your savings stash before you get enough stockpiled to buy a decent car. (life happens).
Common consensus seems to be somewhere north of 5k, if you want to be able to "buy and drive" the car you purchase, and I think settling for a project car for less, typically ends up w/ the thing never getting done, taking up space in the garage.
There are several creative financing alternatives out there to allow you to realize your dream w/o it eating up your budget. I see you are a service member, and I would think that broadens things even more.

A hobby car can be one of several things, and it wont take alot of searching here to differentiate between the choices you have.
#1. you can save 300 a month for 2 years, and provided nobody needs braces,..gets sick,..moves,....loses their job,..needs to pay their tuition,... or dies,.....in 2014,...you'll have 7200.00 saved and have a damn nice car that somebody else has put a ton of money in before you.
#2 You can take what you currently have and buy somebodies bailed out on project, and continue to funnel your 300.00 monthly into it to build it the way you want,...accepting that you may have to drive a "less than stellar" car until you get it the way you want.
#3 you negotiate a loan using your house as collateral (it's called a HELOC). and get what you want tommorrow, and use the 300.00 you are currently "saving" as your payment,..take the interest on the laon as a deduction on your taxes, and take any additional monies and buy that new dishwasher at the same time.

hmmmm interesting i will have to look into that.... i save a minimum of 300.00 a month... twice a year i get an extra paycheck which adds another 2k to my overall amount along with tax return should equal a lil more than 5k by spring.

RangerJoe · Aug 10, 2012

Sarge103 said:
hmmmm interesting i will have to look into that.... i save a minimum of 300.00 a month... twice a year i get an extra paycheck which adds another 2k to my overall amount along with tax return should equal a lil more than 5k by spring.

LOL, we think alike! I need a built tranny: I figure I can put back $50-$100 a month, Christmas will probably net me $200 more, the two extra checks a year I figure are worth $200 a piece, and then another $200 or $300 I can wiggle from income taxes...I should, hopefully, have a tranny by end of 2014.

We will see.

Joe

Mustang5L5 · Aug 10, 2012

Mine was the first car I ever owned. I bought it at 16. I'm 31 now.

I remember working my butt off from 14-16 to save up for it. Of course, when you are 14, you have no expenses so 100% of my income went to saving for the Fox

Sarge103 · Aug 11, 2012

Mustang5L5 said:
Mine was the first car I ever owned. I bought it at 16. I'm 31 now.

I remember working my butt off from 14-16 to save up for it. Of course, when you are 14, you have no expenses so 100% of my income went to saving for the Fox

I'm 31 now but I'm sure when I finally have the cash and buy the fox I'll feel like I'm 16 :o)

Keeping Motivated?

Sarge103

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boostfrk

Onefine88

Previously 89SSC18

Sarge103

Member

Sarge103

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StreetsideStig

Active Member

Sarge103

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RangerJoe

I leave the horn on while driving

Sarge103

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91TwighlightGT

Sarge103

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jadigen

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88LX5.Oh

Sarge103

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CarMichael Angelo

my rearend will smell so minty fresh,

Sarge103

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RangerJoe

I leave the horn on while driving

Mustang5L5

That is…until I whipped out my Bissell

Sarge103

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Keeping Motivated?

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