Costs - arrrrgh!

Most of us try to produce a budget for our builds. Some of us bury our heads in the sand and don't bother! Even where we do a budget, many of us hope that we can keep the cost below what we expect. Our view is that the unexpected will not happen or that we can save as we go on. The reality is a lot different! I had budgeted £40k with a £5k contingency, so £45k.

My costs, when I added them up, were a real eye opener and I had done a budget and tried to stick to it! So here are my final costs for the Cobra, with a Euro chassis, an uprated LS6 engine, a Tremec Magnum gearbox, AP brakes, the IVA test, registration, transportation etc. I have included the build and first year's road insurance, car tax, fixings etc down to the pound. Gulp!

• Body, fixings and trim £15,451
• Chassis and brakes £18,332
• Engine and ancillaries £7,763
• Transmission, bell housing, clutch etc £3,534
• Tyres and wheels £3,406
• Hood and fixings etc £1,700 (added later)
• Transportation, final checks, IVA test, registration, insurance etc £3,478

• TOTAL £53,664

So why had I got it so wrong?  First I hadn't allowed for the IVA and on road costs. I hadn't allowed for AP brakes and the bigger discs associated with these. The engine cost more than I planned, mainly around the ancillaries and immobiliser. I added a few items to the body that I had not planned such as gas struts. And finally GD increased their prices on a number of items that I had not allowed for.

So a cautionary tale, allow a decent contingency say 15% on top of your budget, unless you don't care about costs! You don't need to show your better half the budget, but you should know what you are letting yourself in for - even if you are spreading the cost over a few years.