I am resurrecting a previous challenge car build that started for 2009 but was never finished. The problem is all the info I had from car purchases and parts sales is gone from a laptop hard drive crash 2 years ago.
The summary is as follows.
Fiat parts. Running car bought for $500. Sold off well more than that with the top, seats, engine, transmission, and wheels but are limited to claiming only the $500 purchase price. Effectively we netted a cost of $0 for this car and it's remaining parts
Ford ranger purchased for $800. We sold off about $600 in parts keeping only the motor, transmission, driveshaft, ECU, battery, and a few odds and ends including some sheet metal we used as body patches on our rusty fiat. Being this is the 2016 challenge we would only be able to credit $508 of the &600 or so in sold parts to stay under $1008.
Would the GRM community allow us to start our calculations for the build from that starting point without trying to reconstruct purchase records from sellers and buyers? Or starting over with another vehicle (or vehicles).
In short we would be asking to start with these parts at a total spent of $292 ($1300 for the cars minus $1008 in sold parts)
What does GRM say?
Well, some pics would help determine 'fair market value', but as far as a rusty fiat body and crappy old ranger parts go, I think $292 is pretty close to 'fair market value'.
Pics were mostly lost too. There is still a picture in "my garage" section of the site showing the fiat in disassembly. Hopefully I can find more as they were good times and worth remembering!
i lost some receipts and didn't get a few from sellers. i didn't fudge anything or FMV anything, i know what paid so i put it in my spreadsheet as such, noted where it came from, and didn't provide receipts. i doubt anyone would protest my used drag tires for $100 from craigslist, and most of the rest of the stuff was home depot or lowes sourced so i looked up the current pricing online and put it in the budget at that. i didn't feel like looking up my fuel pump receipt in my stuff from 4 years ago and i remembered paying $99 for it so i listed it as that. of course by this time it's been used for 4 years and i could probably have FMV'ed it at 1/4-1/2 of what it was new but that's not "spirit of the event" for me. i included receipts for everything i had including major stuff(car, parts car, sale of parts car) but it's not like i was going to ask for a receipt at a garage sale for 50 cents worth of reflectors and i didn't keep my home depot receipt from 15 years ago when they put fence brackets on clearance for a quarter and i bought the whole lot for automotive use.
Yea I think I had like 4 things in my budget that I marked as receipt lost.
