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I've been considering starting a Drop Pod army, because while I don't really care for Marines, Drop Pods are freakin' awesome. I'm thinking space wolves would be best as they have a pod in the battleforce and are my prefered of the available marines.

I'm looking at:
2 Rune Priest, 3 Dreadnought, 60 Grey Hunters, 15 Long Fangs, 12 Drop Pods

However, having done the math (and dropped the landspeeders because they'd cost £166.50 for 9 what the crap) it'll cost a boatload.
2 Rune Priest £8.20 (£16.40)
4 Battleforces: £60 (£240) (1 (4) Drop Pod, 20 (80) Marines, 5 (20) Wolf Scouts)
3 Dreadnoughts: £28 (£84)
8 Drop Pods: £20.50 (£164)
£504.40

My ultimate question is, is there a cheaper way to make this sort of army, or am I barking up the wrong tree?

Do you feel as though you have the ability to make some DIY drop pods?

If so, check this out.

I scratchbuilt a Toaster for a Talos, I'm sure I could manage that

usually can find cheap drop pods on ebay, I bought mine for 12 bucks each (7.67 pounds) if you don't have the time, but scratch built models are always cool

Google "drop pod templates".

You'll find the old GW France website plans.

They look like the FW dread pods (but there is a 5 fin infantry pod set also). Needs bits to bling it up and make it look more authentic, but from 3-5 feet, they will pass a cursory glance.