Arrive and Drive what can I charge.
Discussion
OK not UK but a club sport question.
I now have one race car to many now my daughter has left for Uni. A nice Locust 7 that ran a 1330 cross flow for the daughter, but currently it is having a 4 Age fitted, with a 5 speed, LSD, disks all round, new R500 style seat etc. So it will be a nice car and will be capable of podiums in class. Plan is to have it as a spare car for myself, in case of a problem, but to offer it as a hire car, as it is not worth selling.
Car is at Sepang Malaysia and will be fully supported for the race weekend, Practice, Quali, and two ten laps races.
So assuming fuel and entry fee at cost what could I charge for the car. The car will run 15 inch semi slicks, and I can buy a set of 4 for say 300 pounds. These will suit most conditions, but full wets will e on hand if needed. Tyres are available at the circuit as required so I was thinking of offering a price with used tyres and then say 200 pounds extra for new tyres.
How do people deal with damage? It is very difficult to actually damage a car as run offs arer so big, worst we've ever had is damaged wings and wishbones, as an example I can get rear wings for 50 pounds.
I now have one race car to many now my daughter has left for Uni. A nice Locust 7 that ran a 1330 cross flow for the daughter, but currently it is having a 4 Age fitted, with a 5 speed, LSD, disks all round, new R500 style seat etc. So it will be a nice car and will be capable of podiums in class. Plan is to have it as a spare car for myself, in case of a problem, but to offer it as a hire car, as it is not worth selling.
Car is at Sepang Malaysia and will be fully supported for the race weekend, Practice, Quali, and two ten laps races.
So assuming fuel and entry fee at cost what could I charge for the car. The car will run 15 inch semi slicks, and I can buy a set of 4 for say 300 pounds. These will suit most conditions, but full wets will e on hand if needed. Tyres are available at the circuit as required so I was thinking of offering a price with used tyres and then say 200 pounds extra for new tyres.
How do people deal with damage? It is very difficult to actually damage a car as run offs arer so big, worst we've ever had is damaged wings and wishbones, as an example I can get rear wings for 50 pounds.
That's my problem what the cost? I built the car 10 years ago, It is next to worthless here. It will cost me 2000 pounds to ugrade it, say the engine last two years, but what will be the % take up? Do I have a diffrent rate for a rece than a track day, how to charge for practice?
Thats why I was tryoing to get an idea of a market rate. My thoughts were 800 pound a weekend fully supported with new tyres, does that sound realistic? Plus entry and fuel that would mean a weekend would be around 1100 pounds.
Thats why I was tryoing to get an idea of a market rate. My thoughts were 800 pound a weekend fully supported with new tyres, does that sound realistic? Plus entry and fuel that would mean a weekend would be around 1100 pounds.
Graham, thanks for the numbers, and the advice, it looks worth a punt. I am looking at a series I already compete in so some of the cost are covered, e.g. we have an engineer, to oversee work, a team manager to do scrutineering etc. already paid for, so I just need a couple of mechanics, and remember I am not paying European wages.
I also have all the pit facilities like coffee, cold drinks, tools, equipment etc covered in my expenditure to run my car.
Now ignoring all comments teaching me to ‘suck eggs’, 800 pounds for the weekend suits me, and looks Ok in the market. I could make a very positive cash flow and recover my investment over 2 years, assuming 50% utilization just at races, track days extra.
Tyre wise 800 pounds would get you ‘what’s on the car’, Then new tyres for 200 pounds extra if wanted, so I’d end up with a set of tyres with 20 laps on them I could use again if the next hire wanted ‘as is’, I could also get more than 100 pound for them used after 20 laps.
But how do you ensure you get the money for damage, I don’t see it as being feasible to as for the full cost of the car as a deposit?
I also have all the pit facilities like coffee, cold drinks, tools, equipment etc covered in my expenditure to run my car.
Now ignoring all comments teaching me to ‘suck eggs’, 800 pounds for the weekend suits me, and looks Ok in the market. I could make a very positive cash flow and recover my investment over 2 years, assuming 50% utilization just at races, track days extra.
Tyre wise 800 pounds would get you ‘what’s on the car’, Then new tyres for 200 pounds extra if wanted, so I’d end up with a set of tyres with 20 laps on them I could use again if the next hire wanted ‘as is’, I could also get more than 100 pound for them used after 20 laps.
But how do you ensure you get the money for damage, I don’t see it as being feasible to as for the full cost of the car as a deposit?
The video sounds good and a rev limiter, as I say its very hard do much damage as the run offs are huge, so I think a 1500pound deposit would dot it, that would cover most body damage, or a replacement engine. As I say not UK money I plan to run a 4age I can get these ex Japan for 500.
So I've made the decision and ordered a 4age engine box and axial, should be a nice car, LSD 4 wheel disks, car will be running be end January. Thanks for the help.
So I've made the decision and ordered a 4age engine box and axial, should be a nice car, LSD 4 wheel disks, car will be running be end January. Thanks for the help.
Hi Will, I got your email and will reply, but just in case any one else is interested, we are now sorting the car, Locost 7, will run a 4age, 5 speed, Lsd, Disks all round, plumbed in fire, full cage, for Class 3 of Asia Classic Car Challange, at Sepang, price as I said is OK, great if you take it first race,
Thanks to Graham for his help,
Thanks to Graham for his help,
I thought I'd post an update on this, so people (especially Graham) can see there advice is appreciated and acted on.
As I said in last post we took the old Locost and put a Toyota 1600 twin cam in together with a 5 speed box, Toyota rear axil with LSD rear disks, new seat, Harness, 15 inch wheels with slicks and wets, and had it ready for the first race weekend in April, Driven by Will, it finished every session.
Since then Will has hired it for both the subsequent race weekends and again it finished every session, and last weekend came third in class in a race, (OK it was a weekend of a lot of breakdowns, but to win you got to finish).
I have got access to ex formula car slicks which are in good order for around 200 pounds a set, and these are proving OK.
Charging around 1000 pounds a weekend plus tyres and entry fees for the car, fully supported (last weekend head gasket went on last race 18.30 Saturday, car made the grid for 9am Sunday, so support is good). Laping Sepang in around 2.45 which is not disgraceful and is only 1.5 seconds of what new Caterhams duratec's with full Caterham work support are doing (they run in same race but different class).
The Toyota running gear is a great package for the Locost looks good and is super reliable.
As I said in last post we took the old Locost and put a Toyota 1600 twin cam in together with a 5 speed box, Toyota rear axil with LSD rear disks, new seat, Harness, 15 inch wheels with slicks and wets, and had it ready for the first race weekend in April, Driven by Will, it finished every session.
Since then Will has hired it for both the subsequent race weekends and again it finished every session, and last weekend came third in class in a race, (OK it was a weekend of a lot of breakdowns, but to win you got to finish).
I have got access to ex formula car slicks which are in good order for around 200 pounds a set, and these are proving OK.
Charging around 1000 pounds a weekend plus tyres and entry fees for the car, fully supported (last weekend head gasket went on last race 18.30 Saturday, car made the grid for 9am Sunday, so support is good). Laping Sepang in around 2.45 which is not disgraceful and is only 1.5 seconds of what new Caterhams duratec's with full Caterham work support are doing (they run in same race but different class).
The Toyota running gear is a great package for the Locost looks good and is super reliable.
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