Entering Motorsport - Does this budget look right??

[ktm301p]

Hi all

I am looking at the idea of starting to race a saloon at the weekends, but first need to budget to see whether I can actually afford it. I would buy a £1000 saloon, currently looking at the MK2 Toyota MR2.

After some research into what you need as a driver and what you need for the car, I have estimated that a years racing could cost a bare minimum of £6824. Does this seem about right, or am I way off the ball here?

Here is my dodgy pricing breakdown for a years racing after some research this morning:

Car - £1000

Equipment/apparel - £200 (x2 for 2 drivers)

Race licence - MSA National B - £362 (x2")

Racing - £1500 (5 races a year X £300 (or 7-15 track days at 99-200 a time)

Car preparation - max £2000 (£600 for roll cage, £30 air filter, extinguisher £50, race seat and harness
£200, led rain light £40, shocks and springs £200, clutch £400, exhaust £70, pads, discs, calipers - £200 = £1790+£210 in unforseen costs=£2000)
Fuel, tyres, bits on the car going wrong - £500-1000.

Total estimated cost: £6824.

Thanks in advance.

[andye30m3]

I'm doing my first year in production bmw this year,

I'm expecting around £5k + the car, license and race wear which I already had. This includes a few friday test days and things like fuel to travel, fuel for the race car etc.

The car cost £4250 although I have receipts for near 8k for the build and the base car was £150.

[Dr JonboyG]

Can you really get your gear for £200 each?

[ktm301p]

Dr JonboyG said:

Can you really get your gear for £200 each?

I think so, yes. Looking at everything second hand and from a few friends who have raced previously, although like I said - it is an estimate, so it might cost more/less for all parts on the list.

[ktm301p]

andye30m3 said:

I'm doing my first year in production bmw this year,

I'm expecting around £5k + the car, license and race wear which I already had. This includes a few friday test days and things like fuel to travel, fuel for the race car etc.

The car cost £4250 although I have receipts for near 8k for the build and the base car was £150.

Sounds somewhat similar to mine, how many races are you planning on doing for the season?

[jagracer]

ktm301p said:

Hi all

I am looking at the idea of starting to race a saloon at the weekends, but first need to budget to see whether I can actually afford it. I would buy a £1000 saloon, currently looking at the MK2 Toyota MR2.

After some research into what you need as a driver and what you need for the car, I have estimated that a years racing could cost a bare minimum of £6824. Does this seem about right, or am I way off the ball here?

Here is my dodgy pricing breakdown for a years racing after some research this morning:

Car - £1000

Equipment/apparel - £200 (x2 for 2 drivers)

Race licence - MSA National B - £362 (x2")

Racing - £1500 (5 races a year X £300 (or 7-15 track days at 99-200 a time)

Car preparation - max £2000 (£600 for roll cage, £30 air filter, extinguisher £50, race seat and harness
£200, led rain light £40, shocks and springs £200, clutch £400, exhaust £70, pads, discs, callipers - £200 = £1790+£210 in unforeseen costs=£2000)
Fuel, tyres, bits on the car going wrong - £500-1000.

Total estimated cost: £6824.

Thanks in advance.

I think your overall figure isn't too far of the mark, just some of the figures in-between are a bit off. I'd be more inclined to say £500 apparel, extinguisher £150, led rain light £11 from Maplin including a 26p resistor. Why exhaust, calipers and clutch although a set of discs and pads will cost you £200. don't MR2s have them fitted? Don't forget fuel and expenses getting to races.
Good luck

[pistol pete]

ktm301p said:

...extinguisher £50,
race seat and harness £200,
led rain light £40...

Where are you getting a plumbed in extinguisher for £50?
Likewise the seat & harness. Personally I wouldn't touch 2nd hand safety gear with a barge pole.
Also remember that all safety kit except the seat (for national racing) are life'd, so often not worth buying second hand or old stock unless the discount is very significant.
Do you need a rain light? Will fog lights not suffice on an MR2?

If you want to start racing on a tight budget, buy a prep'ed car.

There are so many little things you don't price as you don't think they cost much, but the cost adds up. -cut-off switch, cable, nuts & bolts, stickers etc

[ktm301p]

jagracer said:

think your overall figure isn't too far of the mark, just some of the figures in-between are a bit off. I'd be more inclined to say £500 apparel, extinguisher £150, led rain light £11 from Maplin including a 26p resistor. Why exhaust, calipers and clutch although a set of discs and pads will cost you £200. don't MR2s have them fitted? Don't forget fuel and expenses getting to races.
Good luck

Thanks,

I included the cost of exhaust, pads etc because it was recommended that you do it on this MR2 racing website that I picked up from another thread here on PH. Although, if I found that the pads, discs and everything is ok I wouldn't go out and buy another set.

[ktm301p]

pistol pete said:

Where are you getting a plumbed in extinguisher for £50?
Likewise the seat & harness. Personally I wouldn't touch 2nd hand safety gear with a barge pole.
Also remember that all safety kit except the seat (for national racing) are life'd, so often not worth buying second hand or old stock unless the discount is very significant.
Do you need a rain light? Will fog lights not suffice on an MR2?

If you want to start racing on a tight budget, buy a prep'ed car.

There are so many little things you don't price as you don't think they cost much, but the cost adds up. -cut-off switch, cable, nuts & bolts, stickers etc

Thanks, I've noted the price on the fire extinguisher and I believe that its in the MR2 racing regulations as shown in this pdf (skip to 12. electrics)http://www.reddragonraceandtrackclub.com/downloads/regulations/2012-mr2racingseries-technical.pdf

In regard to the safety gear, I agree with your point and I will change the budget accordingly to take into account the cost of new safety equipment. Also, I had a quick look at the MR2 track prepared cars, and I found this one which looked like a possible candidate. http://www.pistonheads.com/sales/3807563.htm

It may also be ideal because it could be a £1000+ cheaper than buying a base care and preparing it myself. (£1000 for base car + 2000 for modifications - or £1,995 for track ready car.)

[ktm301p]

pistol pete said:

Where are you getting a plumbed in extinguisher for £50?
Likewise the seat & harness. Personally I wouldn't touch 2nd hand safety gear with a barge pole.
Also remember that all safety kit except the seat (for national racing) are life'd, so often not worth buying second hand or old stock unless the discount is very significant.
Do you need a rain light? Will fog lights not suffice on an MR2?

If you want to start racing on a tight budget, buy a prep'ed car.

There are so many little things you don't price as you don't think they cost much, but the cost adds up. -cut-off switch, cable, nuts & bolts, stickers etc

Thanks, I've noted the price on the fire extinguisher and I believe rain lights are essential, it is in the MR2 racing regulations as shown in this pdf (skip to 12. electrics)http://www.reddragonraceandtrackclub.com/downloads/regulations/2012-mr2racingseries-technical.pdf

In regard to the safety gear, I agree with your point and I will change the budget accordingly to take into account the cost of new safety equipment. Also, I had a quick look at the MR2 track prepared cars, and I found this one which looked like a possible candidate. http://www.pistonheads.com/sales/3807563.htm

It may also be ideal because it could be a £1000+ cheaper than buying a base care and preparing it myself. (£1000 for base car + 2000 for modifications - or £1,995 for track ready car.)

[Lee Mack]

Not sure you can use the words 'Motorsport' and 'budget' in the same sentence

Apart from the things you have mentioned, Fuel, Tyres, Pads and Discs are going to be your biggest additional ongoing expense for the season. You will go through a lot of each.

Also - depending on how competitive you want to be, this will have a bearing on the depth of your pockets - outside of your planned budget.

I started building 4 years ago with a 5K base car. I reckon after 2 seasons and a lot of work (self build), i'm in for 35 grand in vehicle costs alone. But the car is very competitive in it's class.

[Trev450]

ktm301p said:

Dr JonboyG said:

Can you really get your gear for £200 each?

I think so, yes. Looking at everything second hand and from a few friends who have raced previously, although like I said - it is an estimate, so it might cost more/less for all parts on the list.

Do you really want to wear other people's clothes/helmet? I know it will significantly affect your budget, but I have always subcribed to the principle of not being able to put a price on safety and as such get good kit to start off with.

[dapearson]

You haven't included information on transport, storage, or the costs of staying at circuits (zero for a tent obviously).

My race budget so far this season has been as follows:
Donington
entry fee - £390
cost to stay over = £0 (mate lives near derby)
diesel for tow car = £40
fuel for caterham = £40
testing = £0 (didn't bother)

Brands
entry fee = £360
cost to stay over = £40 (cheap local B&B)
diesel for tow car = £40
fuel for caterham = £40
testing = £0 (didn't bother)

Those are at the cheap end of the scale though. We're at Anglesey in June and that'll be expensive. I'm anticipating:
entry fee = £450
cost to stay over = £180 (3 nights with the missus in local B&B)
diesel for tow car = £100
fuel for caterham = £80
testing = £200 (never been there before)

Obviously i've not included the cost of tyres. Fortunately the "classic" caterhams run on hard rubber so a set of tyres does nearly a full season.

Brake pads are another consideration. Mine (1144s) are £40 per set. The car needs new discs soon too, but they're only £35/pair.

So far i've had one mechanical part that needed replacing, but that was just a £3 pair of a-frame bushes.

I'm anticipating a big bill at some point though!

I'd agree with the comments above - buy a car that's prepped already.

[ktm301p]

Trev450 said:

Do you really want to wear other people's clothes/helmet? I know it will significantly affect your budget, but I have always subcribed to the principle of not being able to put a price on safety and as such get good kit to start off with.

Agreed. Helmet I would definitely buy new without a doubt - but to an extent, I can't see the problem with purchasing secondhand overalls, as long as they're clean, and have no rips or tears there shouldn't be a problem or am I just being naive on the subject?

[ktm301p]

dapearson said:

You haven't included information on transport, storage, or the costs of staying at circuits (zero for a tent obviously).

I'd agree with the comments above - buy a car that's prepped already.

Thanks, I will add transportation and accommodation to the list! The more I look at it, the more I can see how a ready prepared car would save on time, effort and most importantly cost.

[dapearson]

ktm301p said:

Hi all
...

Equipment/apparel - £200 (x2 for 2 drivers)
...

No way. That won't even get you a helmet that's approved to the right spec.

My safety gear (i bought it all new back in 2004) came to around £900. I bought a sparco sprint suit, sparco formula helmet, sparco gloves and boots. None of it was "top-notch" equipment, but i know where it's been!

If you're contemplating buying all of your safety gear on fleabay then i think you should reconsider whether you can really afford to get into racing. It's addictive and all-consuming!

[andye30m3]

ktm301p said:

andye30m3 said:

I'm doing my first year in production bmw this year,

I'm expecting around £5k + the car, license and race wear which I already had. This includes a few friday test days and things like fuel to travel, fuel for the race car etc.

The car cost £4250 although I have receipts for near 8k for the build and the base car was £150.

Sounds somewhat similar to mine, how many races are you planning on doing for the season?

I'm doing 8 double headers.

Entry fee's are about £2100
registration fee £100
Fuel for the race car £500
Fuel for the tow car £500
6 tyres for the E30 where £450
Then theres the best part of £1500 for consumables and additional tyres and a couple of test days.

On top of that there was

The car £4250
Set-up £600
Helmet £400
Overalls £400
boots & gloves £150ish
Trailer £1300

so the first year comes out at £12,500 all in.

PBMW very kindly supply food over the weekend and I tend to camp otherwise these are another couple of expenses that can add up.

With the PBMW i've let a friend use the car for the project 8 saloons which runs on the same weekend so there's some cash back in the pot from him.

Edited by andye30m3 on Wednesday 25th April 14:08

[ktm301p]

Lee Mack said:

Not sure you can use the words 'Motorsport' and 'budget' in the same sentence

Apart from the things you have mentioned, Fuel, Tyres, Pads and Discs are going to be your biggest additional ongoing expense for the season. You will go through a lot of each.

Also - depending on how competitive you want to be, this will have a bearing on the depth of your pockets - outside of your planned budget.

I started building 4 years ago with a 5K base car. I reckon after 2 seasons and a lot of work (self build), i'm in for 35 grand in vehicle costs alone. But the car is very competitive in it's class.

Both my father and I are amateur drivers, although my father has about 20 years experience over myself. I think if we were to enter, we would be competitive in spirit but I'd imagine due to our limited budget with preparing the car that we would be towards the back of the grid!

[dapearson]

ktm301p said:

Both my father and I are amateur drivers, although my father has about 20 years experience over myself. I think if we were to enter, we would be competitive in spirit but I'd imagine due to our limited budget with preparing the car that we would be towards the back of the grid!

That's the problem with running in a series like that i guess. It takes many seasons after starting with a base car to end up with something competitive.

That's why i chose to go into caterham graduates. The purchase price of the cars is more (£10k ish), but the prep and ongoing maintenance is much less, plus you're not at such a disadvantage when competing with people with DEEP pockets!

[ktm301p]

dapearson said:

No way. That won't even get you a helmet that's approved to the right spec.

My safety gear (i bought it all new back in 2004) came to around £900. I bought a sparco sprint suit, sparco formula helmet, sparco gloves and boots. None of it was "top-notch" equipment, but i know where it's been!

Thanks, sorry if I'm repeating myself here but this was an estimate of price, and obviously I was way off the ball with the equipment cost. I wouldn't buy a helmet of ebay, only apparel that was in good condition if it was notably cheaper than others.