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Step 2


Golin
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Well I completed Step 1 a couple weeks ago when I managed to sell the Speed3 out of the driveway to free up capital.

 

Now I've just completed Step 2 in getting approved for a loan on a used E36 for Spec 3 racing. So I am no officially in the market. Exciting time this. I'd love to be ready to go Spec 3 racing with laze1 in the Southeast come February of next year, but it may take a little longer.

 

Anyway, if any of y'all know of any good deals, or where to look to find good deals, let me know. Of course I'm looking for a car with a good unibody mostly, though it will spend some time as our second family car and can't be a complete rebuild situation. I'm pretty pumped, can't wait to finally start moving forward.

 

GT

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Congrats on the steps and progress made thus far. It does get pretty exciting starting a build for sure! I used bimmerforums, craigslist, ebay, and any other bmw forums to start your search.

 

Let us know what you come up with!

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Well I completed Step 1 a couple weeks ago when I managed to sell the Speed3 out of the driveway to free up capital.

 

Now I've just completed Step 2 in getting approved for a loan on a used E36 for Spec 3 racing. So I am no officially in the market. Exciting time this. I'd love to be ready to go Spec 3 racing with laze1 in the Southeast come February of next year, but it may take a little longer.

 

Anyway, if any of y'all know of any good deals, or where to look to find good deals, let me know. Of course I'm looking for a car with a good unibody mostly, though it will spend some time as our second family car and can't be a complete rebuild situation. I'm pretty pumped, can't wait to finally start moving forward.

 

GT

There are lots of ways to proceed here, but keep in mind, having a car loan on a race car is dangerous business.

 

Anyway, one option would be to buy a partially built race car. Piper sells them, RRT sells them, etc. You are going to have to cage the beast, so why not have a car loan with includes the cost of the cage and enable you to pay it off over time. Just make sure you buy a car which has a title.

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There are lots of ways to proceed here, but keep in mind, having a car loan on a race car is dangerous business.

 

Anyway, one option would be to buy a partially built race car. Piper sells them, RRT sells them, etc. You are going to have to cage the beast, so why not have a car loan with includes the cost of the cage and enable you to pay it off over time. Just make sure you buy a car which has a title.

 

I'm aware of the risks of a loan on a race car, but thanks for the heads up. It'll be an HPDE/TT car first, and hopefully will be paid off by the time I go W2W. Besides, I always kind of told myself I'd get a tow vehicle first, so February may have been a tad optimistic.

 

Anyway, what are these partially built cars of which you speak? Are they still street legal? I need the car to do double duty for a while.

 

It is still exciting though.

 

GT

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Realizing that an engine is an expendable item for race cars, how many miles are too many for street service? assuming average maintenance?

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Thought I was all ready to get the perfect car from a guy in Florida. Turns out that the NCSECU has all the rules about private sales. Hanging on by a thread now. Hopefully I can get it done. Banks are so fussy.

 

GT

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I'm with Jon on this one... you will pay extra to have it as a daily driver, probably on the order of $3K more. I picked up my car for $1100 - it had been slid sideways into a curb, buckling the entire right side suspension.

 

I've seen a couple for sale around here (SC) - I'll keep my eyes open. I may even hit a SE event here soon.

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I'm with Jon on this one... you will pay extra to have it as a daily driver.

 

Yeah, I wish I was in a position where I could just buy it for a dedicated track car, but unfortunately that's not where I am. If wishes were fishes...

 

I've seen a couple for sale around here (SC) - I'll keep my eyes open. I may even hit a SE event here soon.

 

Thanks, I appreciate all the help I can get. I'm really trying to tap into the network or "buddies cars." I can search all the online stuff fairly well, but it's the, "Hey my buddy is looking to unload a car," or "This great deal just came my way," that I'm really looking to capture.

 

Not having cash on hand is a huge PITA too. Maybe I should just save up for a year, work events and then pay cash. Of course not driving for that long may kill me, so that might not be a good solution.

 

GT

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  • 2 weeks later...

Jinxed it. Got there, the car looked great, but once the hood was open I only counted 4 coils. Apparently the seller didn't know there was a difference between ad 325 and a 318. Oh well, the search continues...

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  • 2 weeks later...

Well I took Step 3, but unfortunately I won't be running in Spec 3. I found an E36, but it's a 328i. Given the fact that we needed a second car for the family sooner rather than later, and the fact that it was a good deal, I had to take it. Looks like I'll be running in either PT or GTS once I get W2W. Maybe a second classification of Spec 3 for 328s by then? Best of luck to all of you, and I look forward to seeing you at the track!

 

GT

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