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Unread 08-12-2013, 07:42 PM   #31
kovic
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Quote:
Originally Posted by Matt1981CJ7 View Post
I'm torn on this one....

On one hand, I like the fact that a 17 yr old is motivated to work on an old CJ. It should be a good experience, and he will learn a ton.

On the other hand, dumping every spare dime into a 30-year old rust bucket is probably one of the worse financial moves he could make. Cheap and reliable transportation was what I needed at his age, not a money-pit. If he were my son, and he was dead set on owning a CJ, I'd urge him to save for one that was already built to his liking.

Just one ol' farts opinion.

Matt
I agree with this completely, I have learned so much by owning my CJ. But I also regret getting it, at that point in my life (age 17 or 18). Dont get me wrong I love that jeep. Its just now that life is catching up with me I look back and see what a bad move it was. If I wouldn't have bought it then, with all the money I would have saved I could have bought 2 or 3 restored/solid jeeps right now. All the money I put into it was just to keep it alive, not the fun stuff to make is rust proof etc.

kov

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Unread 08-12-2013, 08:47 PM   #32
larock
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Had my 83 for about 6 months and put about $2000
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Unread 08-12-2013, 09:18 PM   #33
Msmall
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Have had my cj for a month, paid 7800 and have already spent over 2k and still don't have a top. Learned quick that keeping them running gets in the way of "upgrading" them.

When you replace drum brakes with drum brakes its hard to say its an "investment"

I'd suggest you track down some nice wheels and tired that are used but in good condition before spending $1500 on wheels and tires.

I have a list just like you and am not really on a budget, but it still needs to make sense.

Every $100 I spend on the cj is a $100 less I can spend on my harley

Before you spend big bucks on lift and wheels make sure you electrical and mechanical is in tip top shape
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Unread 08-12-2013, 10:00 PM   #34
GOJOman
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I'm a total novice on the jeep front. I have a thread running where people are helping me to learn and track down the right jeep to buy.

I'm not new to life decision making, though. My wife and I started with zippo 32 years ago and now we have 3 great kids thru college with no debt, and our last one headed into college soon. The house is paid off -- and at age 54 it's finally time to buy myself this toy and hopefully turn it into a hobby.

I guess my point is that people your age should SAVE YOUR MONEY and AVOID SILLY DEBT whenever possible. If you were my son, i would counsel you to focus on building your educational and financial foundations. I don't know what your personal situation is, but I hope you're not considering taking on college loans while pissing away money on a jeep.

Work, learn and invest now. Play later. ... sez the old guy who still doesn't have a jeep. :-)
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Unread 08-12-2013, 10:03 PM   #35
Neuner-9R
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Quote:
Originally Posted by Matt1981CJ7

On the other hand, dumping every spare dime into a 30-year old rust bucket is probably one of the worse financial moves he could make. Cheap and reliable transportation was what I needed at his age, not a money-pit. If he were my son, and he was dead set on owning a CJ, I'd urge him to save for one that was already built to his liking.

Just one ol' farts opinion.

Matt
X2!

All hobbies are expensive. Just pick only one if you can. I spent 4 years of my time on a high definition 110" home theater with over 2000 watts and 7.1 surround, theater seats on risers, large custom wet bar, lounge area, and full bath. Somewhere around $20-30k. Forced to sell, took huge hit in recession and only enjoyed it a couple of nights. Now what do I have to show for it? Next house? $40-50k in improvements (investments) gone.

Always dreamed of a CJ and now I can at least take it with me. The money and time I spend on it I get to enjoy until I want it to stop. Only $5k so far, runs and looks great and is my DD except for rainy days (no top and not planning on one).
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Unread 08-12-2013, 10:24 PM   #36
Msmall
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I understand the guys saying save your money....

But the reality is, tomorrow is guaranteed for none of us. If you find enjoyment in toying with a jeep and can afford it without major sacrifice then do it, and do it early and often. But to enjoy these things and afford them, that means working hard.

This is coming from a 29 year old with more "life experience" than most. The reason I'm a recent jeep owner is because I've had recent hardships that have made me realize that if I wait the time may not come. I've always wanted a cj and thought like many "I'll get one when I'm older"

The point that needs to be made is that these things cost a good amount of money to maintain. Whatever you think they cost, double it!

And to gojo man...if student loans are done correctly (like mine) it actually makes more financial sense to finance college rather than pay in full. My interest rate is 1.9% and I've put money into an Ira that has a much larger yield rather than aggressively paying the loan off. Hence I've actaully decreased overall tuition cost. I'll never pay those loans off early. Not even if I won the loto...just wouldn't make sense.
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Unread 08-12-2013, 10:34 PM   #37
kovic
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Quote:
Originally Posted by GOJOman View Post
it's finally time to buy myself this toy and hopefully turn it into a hobby.
You will be the jeeps toy, and it will make you a hobby

kov
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Unread 08-12-2013, 10:41 PM   #38
Msmall
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Quote:
Originally Posted by kovic View Post
You will be the jeeps toy, and it will make you a hobby

kov
Haha...my cj's made me it's b$&@/ several times over the last month

Just remember, there's a reason you see cj's for sale for 5k with 15k worth of receipts. Not an investment, just like Harley's, you'll be happy to get 30 cents on the dollar back.
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Unread 08-13-2013, 12:23 AM   #39
Matt1981CJ7
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Quote:
Originally Posted by Msmall View Post
And to gojo man...if student loans are done correctly (like mine) it actually makes more financial sense to finance college rather than pay in full.
You are investing the money to get a higher return than the loans are costing you. That makes sense.

But that's not what gojo was talking about. He was talking about the average broke college student spending his disposable income (as if there is such a thing) trying to keep a CJ on the road, instead of saving/investing the money.

Most college kids I know need cheap and reliable transportation, not an expensive hobby.

Matt
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Unread 08-13-2013, 01:03 AM   #40
WSS
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Originally Posted by Matt1981CJ7 View Post
"Invested" is a really bad choice of words.

Matt
^^What he said^^

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Unread 08-13-2013, 01:14 AM   #41
Msmall
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Quote:
Originally Posted by Matt1981CJ7 View Post
You are investing the money to get a higher return than the loans are costing you. That makes sense.

But that's not what gojo was talking about. He was talking about the average broke college student spending his disposable income (as if there is such a thing) trying to keep a CJ on the road, instead of saving/investing the money.

Most college kids I know need cheap and reliable transportation, not an expensive hobby.

Matt
I no what he was talking a out. Point being if he wants to trade beer money for jeep money that just fine. If he can't afford rent because his jeep needed to be fixed that is a different story. I would say that most college kids don't think about their spending and my advise is think about it and understand the goals and limitations. Then make a decision.

The reality is the money's most likely going to be spent wether on a jeep, beer, frat dues, some girl. most college kids don't even make enough worth saving. If it starts causing debt, meaning you can't keep up with it, get out ASAP

Remember he got the car for free so he's already ahead.

I think all the advise is sound and I don't disagree, just offering another perspective.
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Unread 08-13-2013, 04:57 AM   #42
skizriz
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The first rule of CJ Spending Club, is we don't talk about CJ Spending Club.

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Unread 08-13-2013, 08:50 AM   #43
Sean_Cj7
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I'll answer I've had my jeep for about a year, & it was running for the first month before, problems happened, work began & it hasn't stop. I've got a CJ7 that I'm guessing every red neck in the TX panhandle has owned & Jerry rigged one thing or another, & now I'm in the middle of trying to make it right. Don't do to bad in the money department but I'm differently not a rich old man. So to answer your questions.

1. Paid 2500 for the jeep have spent approx 2500 - 3000 don't have a exact number, & still spending..
2. I put aside what I need or can
3. Yes build has been put on hold because I didn't have the funds to purchase the next part
4. Yes family things have been put on hold before so I could go on with the jeep not all the time but a few

The thing with a jeep is you have to love, a freind of mine told me Jeep stands for Just Empty Every Pocket, & there is some truth to it... Well good luck if you find your self around Amarillo give me a shout..
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Unread 08-13-2013, 09:10 AM   #44
Renegade82
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The first rule of CJ Spending Club, is we don't talk about CJ Spending Club.
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Unread 08-13-2013, 07:16 PM   #45
DanStew
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My first CJ5 years ago i probably had about 8K into it. The latest M38a1 I have purposly made a speadsheet to do it on the cheap and i have $2500 into mine and that is with a free jeep to start with. I spend alot of time bartering parts and stuff, and I did all my fab work so that saved a considerable cost.
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