Might be embarking on a $500 racecar build...
06-20-11, 01:30 PM
#1
Might be embarking on a $500 racecar build...
So myself and a couple of buddies have been kicking around the idea of a LeMons racecar. I have one convinced to build a RX-7 with me, and the other wants to do a fox body mustang. I e-mailed another michigander (Kentetsu knows who this is) a while back (after my breakdown at DGRR) to see if he had any spindles that he was interested in parting with. He said that he did not, however he did have a title-less shell that he was going to shred if no one wanted it. That perked my interest, until I realized that building a LeMons car from a non-rolling shell for under $500 would be next to impossible.
Until yesterday.
I had been told about a rough looking brownish early RX-7 about 5 miles from where I live that had been sitting for some time. I paid no attention to it, because I didn't have any want/need for a car that was going to require a lot of work. I was in O'Reilley's yesterday ordering parts for my FB, and made reference to how it's nearly impossible to find parts for these cars (being sarcastic, but the guy at the counter didn't think so). He told me about the same car, so I decided that I'd take a look at it.
It turns out that it's a completely clapped out Solar Gold (I think) SA. Waffles. Sunroof. Brown interior. Rust holes in the hood, header panel, front fenders, both rocker panels (below doors) are gone, and there are holes forming in the doors. BINGO I thought.
I called the number on the building (it's an old used car lot) and left a voicemail. When I was driving home, I received a call from the owner. He told me that he had owned the car for some time, and although it had been sitting for a long time, it still starts and runs. He told me that he wanted $650 for it, and I almost started laughing on the phone.
I proceeded to tell him that it's a scrap value car, and nothing more. He said that he landed on $650 because he could get a $500 tax credit. That got the gears turning in my head. I asked him a few more questions, and he said that he would get back to me later in the week with answers.
The gears are turning because a $500 tax credit, even if you're in the top personal tax bracket (which is what, 35%), you're looking at $175 in possible tax returns next year. I'd be willing to go $200 on the car just so I could get the ball rolling on a LeMons car.
I e-mailed the forum member who has the free shell, and he said that he still has it. I will keep this thread updated as I figure out whats going on. I *may* have a set of waffles and some (what he claims) rather nice interior bits from a SA (along with marker lights, bumpers, and what looks to be uncracked tail lights) for sale soon (to fund the LeMons project).
-Jim
Until yesterday.
I had been told about a rough looking brownish early RX-7 about 5 miles from where I live that had been sitting for some time. I paid no attention to it, because I didn't have any want/need for a car that was going to require a lot of work. I was in O'Reilley's yesterday ordering parts for my FB, and made reference to how it's nearly impossible to find parts for these cars (being sarcastic, but the guy at the counter didn't think so). He told me about the same car, so I decided that I'd take a look at it.
It turns out that it's a completely clapped out Solar Gold (I think) SA. Waffles. Sunroof. Brown interior. Rust holes in the hood, header panel, front fenders, both rocker panels (below doors) are gone, and there are holes forming in the doors. BINGO I thought.
I called the number on the building (it's an old used car lot) and left a voicemail. When I was driving home, I received a call from the owner. He told me that he had owned the car for some time, and although it had been sitting for a long time, it still starts and runs. He told me that he wanted $650 for it, and I almost started laughing on the phone.
I proceeded to tell him that it's a scrap value car, and nothing more. He said that he landed on $650 because he could get a $500 tax credit. That got the gears turning in my head. I asked him a few more questions, and he said that he would get back to me later in the week with answers.
The gears are turning because a $500 tax credit, even if you're in the top personal tax bracket (which is what, 35%), you're looking at $175 in possible tax returns next year. I'd be willing to go $200 on the car just so I could get the ball rolling on a LeMons car.
I e-mailed the forum member who has the free shell, and he said that he still has it. I will keep this thread updated as I figure out whats going on. I *may* have a set of waffles and some (what he claims) rather nice interior bits from a SA (along with marker lights, bumpers, and what looks to be uncracked tail lights) for sale soon (to fund the LeMons project).
-Jim
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