|Restoring a Dodge M37.
Some creative accounting may be necessary to preserve your marriage.
|Taking on a total restoration project can be a very good deal or a very bad deal depending upon how you account for your time and expenses. Take my M37 for example. I bought the truck for $2,600, spent another $600 to get it to New Jersey (from Minnesota), and $274 to transfer the title and get insurance. Now, do I count the transportation and paperwork as part of the vehicle cost or don't I?|
|It is a given that when you restore a vehicle from scratch, you inevitably spend more money on the restoration that the vehicle will ever be worth. The cost of the M37 plus out-of-pocket expenses for vehicle parts and services came to more than $12,000. Add in the cost of labor (myself and friends) at minimum rates, and the amount I had in it was $18,000 plus, far more than anyone would pay for it, even if it were the best M37 on the planet (which I like to think it was).|
|Here, for your edification, is what restoring my M37 cost over the two years it took me to do the job.|
Don't get me wrong. I'm not saying that restoring a vehicle isn't worth every penny, every skinned knuckle, every broken stud, and every argument with the wife. It is. But if you want to justify the time and expense, be prepared to do a little creative accounting.
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