Build cost

#21

[quote=“jtower” post=62618][quote=“Steve D” post=62577][quote=“King Tut” post=62546]The n00bs need to know. I know it cost way more to get racing then I ever thought it would.[/quote]Finally a good excuse to use that “Report to Moderator” button.

You’re about make me waste a few hours AGAIN pondering “How much of OPM would I need to buy to be a silent partner and not give the IRS grounds to rape me when I pass all my racing expenses through as ‘promotional expenditures’?” It sure would be nice to use pre-tax dollars to do this stuff…[/quote]
it sure is :slight_smile:
http://cerient.net/photos/spec_e30/jan27/iphone_pics/img_0124.jpg.html[/quote]I would pay a lot of money to hear you argue how that is a legitimate business expense. Not as much as the IRS fines, mind you, but a lot of money nonetheless. :wink:

#22

[quote=“Steve D” post=62630][quote=“jtower” post=62618][quote=“Steve D” post=62577][quote=“King Tut” post=62546]The n00bs need to know. I know it cost way more to get racing then I ever thought it would.[/quote]Finally a good excuse to use that “Report to Moderator” button.

You’re about make me waste a few hours AGAIN pondering “How much of OPM would I need to buy to be a silent partner and not give the IRS grounds to rape me when I pass all my racing expenses through as ‘promotional expenditures’?” It sure would be nice to use pre-tax dollars to do this stuff…[/quote]
it sure is :slight_smile:
http://cerient.net/photos/spec_e30/jan27/iphone_pics/img_0124.jpg.html[/quote]I would pay a lot of money to hear you argue how that is a legitimate business expense. Not as much as the IRS fines, mind you, but a lot of money nonetheless. ;)[/quote]
the same way dupont or budweiser or dewalt or any other motorsports sponsor does - advertising. i never said i funneled every single race expense through my business, far from it. but cerient does have a marketing budget which is put to good use, just as web performance and opennms do. you know how many people see my car each year? hundreds. literally hundreds.

#23

Once my build is complete, within the next 30 days, I will post my build cost. As of right now, I am probably going to be right at the 10K mark, maybe a tick below.

#24

Well when I started my build, it was supposed to be a quick “budget build”… Two years later I am just finishing up the car, am about $12k in and all I have left is wheels and tires!!! All labor was done myself. Lets get racing! First day out with the car is this weekend, Im just doing an autoX to break it in and shake it down. Hopefully anything that is going to fail is going to fail during the autoX instead of on an expensive track weekend.

The build ended up being a complete tear down to the shell. Def more than is necessary but wanted to make sure it was done right.

#25

Funny how my build is virtually identical to yours.

#26

I haven’t tracked my expenses. I don’t care to know. I think I’ve done it relatively economically. To start, I got a good deal on a high mileage E30 with some cosmetic damage, but hardly any rust. I lucked out there as such perfect SpecE30 candidates seem to be harder and harder to come by. Then, almost every part of the build has been done with my own labor. I already knew how to work on cars, but I’ve since taught myself the arts of body repair and welding. What I haven’t been able to do myself, like the cage, I begged around till I found an awesome deal. Some expensive safety components (seats and harnesses) I already had on hand from my old E30 M3 track car. I knew for many years that I wanted to build a SpecE30 so I kept my eye out for sales on parts and perused classifieds. Got a great deal on used wheels and swaybars that way.

The downside to this approach is that it has already taken a very long time and I’m still not done. That is partially my own fault because I’m way too picky (read: anal) and I can’t leave good enough alone. I started out thinking I’d do the minimum to get the car built. And there it sits as a rolling shell almost 2 and half years later. Granted there has been a lot of upheaval in my personal life over that period of time, however I never thought it would take me this long to go racing.

It will be done soon, and with the possible exception of the engine, it’s going to be done right and exactly how I want it the first time.

#27

As Ranger sez: Burn that list!

Never add up what you spend. If you have to ask, you can’t afford it. You will spend WAYYYYY more than you will ever admit. No buddy builds a competitive car for 10k. Even if you do it all yourself. You will spend at least 20. Anybody who tells you different is delusional. Plus if you run the whole season, you will spend close to 1k per weekend, if nothing goes wrong. The only guys who will be honest about costs are the guys who have quit. There is a reason they quit, may be they’ll tell you. If the field is deep, you will spend 50% to 100% more to get up front. Guys who have shops are still spending that much, they just don’t add up their time.

Yes Spec E30 is about the cheapest group you can join to do actual racing, but if it is a big group you will spend a lot more to get and stay up front.

It is like remodeling your house, it always cost more. There are a few rare people who can keep their cost at a specific budget. May be you are one of those rare people. Otherwise just remember this is called RACING. Think Horses. Think Boats. Think KIDS. Think Wives. They all cost us more than we expect or will admit.

Have Fun. Keep it Real. Never discuss costs. Just keep building and eventually you will be out there and learning and getting faster and eventually you will decide how much you choose to spend and where you are happy on the grid.

Best and cheapest approach is buy a complete car from someone who is actually racing but is quitting. Devinneys car was an absolute steal, don’t know if his car is available, but truly that is the cheapest way to do it!

#28

Best. Advice. Ever.

Thanks for the kind words. The market for tub-up builds simply isn’t there in Spec E30 yet. After a few weeks of pondering, my wife encouraged me to keep the car. Not coincidentally, she had an absolute blast driving it in DE3 at Road Atlanta a couple weeks ago.

It looks like I’ll try to run a full season of SM this year (since I’m the Southeast Attendance Award Leader so far) so 2013 will be the year of “go where it is fun”. I want to race the SE30 at VIR. I’d love to get up to Watkins Glen to try something new and historic.

Even when I look at what I’ve spent each year over the past few years (i.e. more than my salary the first year out of graduate school :pinch: ), I can say it was absolutely worth it if for no other reason than getting to know - and battle on track with - some truly great folks.

#29

Hopefully you can make it up to the October Watkins Glen event. Always a great time.
I will be at the July VIR event too so I will finally have my chance.

#30

I am right around $8,500 total. However, I have not touched the engine, transmission, or rear end.

We shall see what that gets me in a couple of weeks.