Mono Budgets - How much do you spend per season?

[samier]

People talk about budgets in various forms of racing, so why not club racing? I am sure some are spending more than others and can afford trucks and motorhomes while others are limited to a trailer and a pop up marquee..

What are people spending per season? Has anyone bothered to cost up their racing activities for the year?[/

[tristancliffe]

We spend as little as possible to do the job properly to enable us to win. There are exceptions - the race truck is a bit of a luxury item really, but Dad has always wanted one having seen the ones people like Ray Rowan used - but most of the time we don't spend money if we don't have to.

Certain costs are 'fixed', assuming a whole season, a couple of sets of new tyres, and living in Norfolk with the truck we have (fuel costs).

Tyres - £1600 per season.
Entry Fees - £2000 per season
Membership - £170
Fuel (for racing) - £500 (although likely to increase as the cost of Shell V-Power skyrockets)
Fuel (for transport) - £2200 (although likely to increase as the cost of Shell V-Power skyrockets)

So already we (and anyone else that has to drive a similar amount to get to the races, and uses two new sets of Avon F3 tyres per year) are at £5870

Other costs vary and are hard to predict: Food (when we're hungry). Brake discs/pads (when they're worn out). Engine/Gearbox oil, brake/clutch fluid, rod-ends, grease, duct tape, electrical goodies, clutch plates, wheel bearings etc etc etc.

Some of the above are changed pretty regularly. Others are changed as and when at whatever the cost is to do it properly (which is ALWAYS cheaper than doing it on the cheap four or five times). Some things are changed because they might need to be changed, and it would be silly to not do it and risk a retirement whilst you've got the part off the car in front of you and it's already done two seasons of work.

So our budget (not including trucks/awnings/running repairs to either) is somewhere above £6000, and somewhere below £20000. But we don't have a lot of spare cash out of the wages my Dad and I (and my mum at times) get paid.

Could we do it cheaper? Probably. But our car would very quickly look like we were doing it cheaper, and our results would probably suffer markedly. Do we have the biggest budget in Monoposto? I very much doubt it. We probably spend about 40% of the biggest budgets, and I reckon there is a car in every class that has more money spent on it than ours. Although obviously we are in the 'lucky' position of being able to do the vast majority of work ourselves.

I doubt you'll get a straighter answer than that. Partly because I don't want to tell you how much money I spend on my hobby (much like I won't tell you many other personal facts), and partly because I don't really know because I don't actually have 'a budget'.

[andrewcliffe]

Gentlemen never discuss money...

[schomosport]

£3600 + fuel for the race car. Can't be bothered to try and separate out towing diesel from everyday running so I don't bother. That does about 8 rounds (mostly double headers) and a couple of tests. Not quite as simple as that since I started off with a bit of a reserve pot the sized of which ebbs and flows depending on how much I spend on maintaining the car and how much I can make on the side buying and selling on ebay!

Do absolutely as much spannering and manufacturing for myself as I can.

This is most definitely racing from the cheap seats but what the heck, its still 2 litre single seater racing and I'm certainly not complaining. Privileged more like.

[Russ]

Only add it all up, and I mean ALL of it up, if you have a very strong constitution.
It will almost certainly make for very sobering reading.

[samier]

If you can do the work yourself obvioulsy you save a fair chunk. I am limited some what this year, but got a few setup equipment and other important stuff to buy as well a new logger. See how far 8k gets me.

I dont want to think about what I spent last year including the car and a bunch of spares otherwise I would start thinking of what else I could have spent the money on!!lol

[Dave]

I am of the same opinion as Russ that you're probably better off not knowing what you spend on racing annually.
You can either afford it or you can't.
Apart from the main costs of entry fees etc there are the fringe costs of medicals, license, replacement helmets/suits etc but the costs that are hard to quantify are the drill bits, rivets, fasteners etc.
I can afford to race so don't concern myself with costs to much. Having said that I have remained in the 1600 class as it is considerably cheaper then the 2 litre super duper class. To replace a corner and wing on my Reynard is a tenth of the cost that it would be with a Dallara.
Racing can be expensive but anyone wishing for relatively low costs but with exactly the same excitement should buy a 1600 Formula Ford or an 1800 Zetec.

[phuston]

I am a couple of years out of date, and my figures would have to be increased to account for the recent increase in the cost of fuel. However, I did keep detailed records for several years and costs were consistent, they decreased when Monoposto started to purchase races and lowered entry fees. Interestingly, the costs of fuel for the tow car and the race car are similar.

Each race cost me an average of £295 in 2008.

My figures were: door to circuit to door, but did not include the cost of overnight accommodation or food, as Ruth enjoys turning double headers into long weekends away, and we eat out frequently.

The Swift was nearly 100% reliable and rarely damaged, so cost me nearly nothing as its purchase and sale price were (debatably) the same. My belief is that a Monoposto car does not depreciate, but costs incured in maintainance and modification are rarely recovered. A championship winning car may appreciate. I usually do my own spannering, but the Swift required very little attention. However, I did occasionally buy new tyres, in an attempt to remain competative.

Approximately half of the cost was made up of the race entry. If running the same way in 2011, I would anticipate the cost to be about £340 a race. I suspect that it is difficult to circuit race for less.

[AndyY]

Like Patrick, I am out of date now but I used to reckon I ran the FVJ & V-L for an average of about £500 per race each, that was using used tyres & I used Dermots services to help me out. That also included the fact that sometimes Dermots costs were shared with someone else like Spawney Whippet, Tony Adams or Andy Webb.

[stevengriffin]

I agree, I try not to think about it. I have no idea how much I spend probably more than I should but hey who cares? I feel very fortunate to be able to do something that I love. When I was a lad in the 70s a collecting area marshal, sometimes for Mono, I never thought that I would ever get my bum in one of the cars.
When I want something I just ask my financial adviser (Mrs Griffin) if we can afford it or not. If she says 'yes' then I have it. So far so good. When the money runs out I'll just have to stop.

[phuston]

Ask the missus, never.

We have an agreement, she does not mention my cars, yachts or microlight, and I say yes to all her holiday suggestions, seems to work.

[samier]

I agree, I try not to think about it. I have no idea how much I spend probably more than I should but hey who cares? I feel very fortunate to be able to do something that I love. When I was a lad in the 70s a collecting area marshal, sometimes for Mono, I never thought that I would ever get my bum in one of the cars.
When I want something I just ask my financial adviser (Mrs Griffin) if we can afford it or not. If she says 'yes' then I have it. So far so good. When the money runs out I'll just have to stop.

Your right, when I was in my teens and early 20's I could only dream, I remember back in 97/98 at Silverstone seeing the Formula Renaults, F3's racing and thinking how I would one day love to drive one.. I never thought of it as I could never afford it. How things change and we ar fortunate that we can realise our childhood ambitions.

[AndyY]

I, too, feel very fortunate to be doing somethiong I adore (no matter how badly) & I never thought I'd get the chance to ace in all those years spectating around the country. As for discussing "budget" with Mrs Y - you have to be joking. She knows now to move away a discreet distance whenever Dermot is about to mention cost. Even Dermot's costs. I spend my money, she spends hers, & there's a joint account which is the only one we both know the contents of! Seems to work!

I did once fall out with the BRSCC when they sent me an acknowlegement of a race entry on a post card, quoting the entry fee, & Mrs Y picked up the post first!! No good!

However, helping out at British GT meetings last year really opened my eyes to budgets. My mates team were spending £7K a w/e on the Lotus 2-11 whilst the Ferrari teams in GT3 wouldn't get out of bed or < £20K. I was once asked to sign a form which all "Team Managers" were requested to do, to allow one team to use their spare Ferrari 430 Scuderia GT3, as they'd broken their main one. £250K a car, & they had a spare! Different world. And, although I haven't compared lap times I bet a lot of them would go quicker (& have bigger grids) in Mono!

[Russ]

We have an agreement, she does not mention my cars, yachts or microlight, and I say yes to all her holiday suggestions, seems to work.

Racing cars, Yachts, aircraft AND fancy holidays!

By 'eck, I am definately moving in the wrong circles!

[phuston]

Russ, the bigger boys' toys have tended to be sequential rather than simultaneous, unlike Steve Griffin, I sold the yacht before I went motor racing, but will admit that currently I can put a racing dinghy on the water, the Multisport onto a race track, and a microlight into the air.

Spent a couple of hours flying over Cambridgeshire yesterday*, Ruth was with me and did not bat an eyelid when I paid for the hire of the school's microlight, she just insisted on me buying the meal on the way home (and washed her car when I got home).

I am definitely in the 'I never dreamed that I could go motor racing until I found Monoposto' group.

*From 'My old man's a dustman': 'when you get to my age son, it helps to pass the time'.