Challenge car purchase price: am I in the right?: Grassroots Motorsports forum: Grassroots Motorsports Magazine

Subscribe get a full year for only $23.95 Sample Free Test Drive—no strings attached

Jan. 23, 2011 5:39 p.m. SlickDizzy SuperDork

I bought a car with a half-completed engine swap, and finished the work myself. I paid $750 for the car. I have a hand-written and signed bill of sale stating such, I even have another forum post to link to stating the purchase price. Hell, I think there's an archived thread on here from when I bought it. The car with the completed swap is worth much MUCH more than $750, but I only paid that much for it, and have done nothing other than add a $60 radiator and $10 worth of wiring and crimp connectors since I bought it.

I've never done the challenge before, and I don't want to build a balls-out challenge car unless I know I'm legal. I will be in Gainesville this year if I am. Should I be okay? I dread showing up and being forced to run exhibition....
Jan. 23, 2011 5:43 p.m. Per Schroeder Technical Editor/Advertising Director

Sounds legit to me....bring it!
Jan. 23, 2011 5:55 p.m. SlickDizzy SuperDork

EXCELLENT! We will be there!
Jan. 23, 2011 6:25 p.m. Derick Freese Dork

Sounds like you're in the car for $830 total so far.

Lots of people have picked up cars that are worth a lot that just need to be put back together. I've picked up cars for free that were worth around $1000 with only a bit of work. Under challenge rules, a car of that sort would be valued at the cost of transportation.
Jan. 23, 2011 6:31 p.m. Auto ADD Dork

Derick Freese wrote:

Sounds like you're in the car for $830 total so far.

Lots of people have picked up cars that are worth a lot that just need to be put back together. I've picked up cars for free that were worth around $1000 with only a bit of work. Under challenge rules, a car of that sort would be valued at the cost of transportation.

Looks like $820 to me. But I don't understand new math.

http://www.youtube.com/watch?v=DfCJgC2zezw
Jan. 23, 2011 8:07 p.m. patgizz SuperDork

you're good to go. incomplete projects are cheap relative to completed ones, it happens all the time. people get in over their heads, give up, need house payments, whatever.
Jan. 23, 2011 8:26 p.m. Derick Freese Dork

Yeah, I had $80 in parts in my head when I did the math, not $70. That new math will cost you $10, you know?
Jan. 23, 2011 8:59 p.m. Moparman Reader

Derick Freese wrote:

Sounds like you're in the car for $830 total so far.

Lots of people have picked up cars that are worth a lot that just need to be put back together. I've picked up cars for free that were worth around $1000 with only a bit of work. Under challenge rules, a car of that sort would be valued at the cost of transportation.

My nearly rust free Shelby Dakota is worth more than the $1200 I paid for it. Come on down!!!
Jan. 24, 2011 7:47 a.m. Raze Dork

Hell, my running/driving Fiat had a $1600 reman trans put in from IAP via the PO 4 months before I bought it, I paid $1000 for the car, I'm coming to the challenge (non-competitive, but at least I'll help round out the 'classic' category)...
Jan. 24, 2011 7:50 a.m. 92CelicaHalfTrac SuperDork

According to the "market," my car that i paid $900 for is worth somewhere in the neighborhood of $3500-$4000.

You're legit!
Jan. 24, 2011 8:16 a.m. mistanfo SuperDork

Heck, the car that I was given will be valued at $200 (non-running Miata). She's running now, though poorly. Thankfully, I have lots of time for a rebuild before October.