Buying a classic with racing history: What you need to know

Photography Credit: Kristina Cilia

Maybe there’s a little Walter Mitty in all of us. Each time we see a race car, we think that perhaps we should actually own one: big tires, loud pipes, maybe some meatballs on the sides.

But buying a race car is tricky–probably trickier than buying the average classic. Looking to take that leap? Let’s go shopping and see if it’s time to live out those fantasies.

But first, what are you going to do with your car? Are you actually going to race it? Do you want to take it to car shows? Maybe even drive it on the street from time to time? Or just look at it in your garage or shop?

And why do you want to do these things with a race car instead of a restored or restomodded classic?

Depending on your answers, you may well have a different path to the finish line.

If You’re Going to Race It

If racing is your plan, it’s better to buy a winner or a project car than a valuable, historic car that you may harm. Even though a winning car should be race-ready, don’t expect it to be, and plan for some sorting and remediation–and, likely, a full disassembly, inspection and refurbishment.

Another big question: Who do you plan to race with? Vintage racing is composed of many different communities–typically regional ones–and there’s a directory at the end of this piece.

How many cars do they put on track together? And will those cars be well matched to yours? Some groups send out relatively small packs, so you may end up racing against your best lap time instead of against other drivers.

Other groups, like Formula Vee, can often see large packs, so you’ll generally have someone to race with whether you’re running up front, mid-pack or even near the back.

Check the rules of the sanctioning body, too. What work will be needed to make your car legal, safe and competitive?

Some groups are more forgiving than others regarding upgrades and appearances, and almost all have stricter safety rules today than those that existed years ago. Budget the time and money it will take to prep the car, and factor that into the price you’re willing to pay.

Don’t forget about the logistics of racing. Do you plan to prep, tow and maintain your car at the track? If so, you’ll find you’re as much a truck driver and a camper as you are a racer.

If not, make sure to talk with as many shops as you can to find one that can prep, deliver and support your car at the track. See if they know how to properly support you and your dream car, make sure they’re insured properly, and check references.

Now, finally, you can think about buying a car. Take your time. The race car market can be fairly limited, with cars often taking months or longer to sell.

Photography Credit: Dan Mainzer

If you’re looking for a race-ready car, start visiting some events. Not only can you check out the communities, the run groups and the cars, but you’ll find quite a few machines listed for sale. You might make a new friend who can help, too.

Then there are the other sources with a car for sale. Plan to travel, and don’t expect a lengthy test drive unless it’s a pretty mild car that can run on the street. Inspect the car thoroughly and try to get as much history as possible. Ask about spares and try to get all of them. Race cars break at the track, after all, so those spares will be very handy.

How is the safety equipment? Is it expired or heading that way? And can you have a trusted shop do a deeper inspection? Always check against the rule book you brought along.

Fell in love and brought home that new car? Now it’s time to disassemble, inspect and refurbish. You can do this yourself or farm it out.

First, trust nothing. Find the weak points, get things crack checked, and inspect all the wear items. Plan on dyno testing the shocks and maybe even rebuilding or simply replacing them. Budget for a full setup with corner weighing, four-wheel alignment, and maybe even a trip to the chassis dyno to touch up the tune.

Remember the wiring, too. Do you want a 75-cent butt connector to park your car on the side of the track after you’ve paid $600 to enter an event, towed across a few states, and rented a room?

Once the car is ready, set up your trailer, tow rig and spares for easy race weekends. Organize your spare parts in well-labeled containers, have your tools conveniently and logically stored in their toolbox, and bring some chairs, maybe a tent, and the type of food that keeps you hydrated and healthy.

[10 Tips To Prepare for a Great Vintage Race Season]

Of course, we’re assuming you’ve raced before, too. If not, plan on attending the appropriate school to satisfy any licensing requirements. Consider additional driving instruction to keep you safe and fast on track.

Whew! That’s a lot more work than taking a car to a car show. Not sure you’re up for that? Keep reading.

If You’re Not Going to Race It

If you’re not planning to race your car, there’s less work to do. But we still advise following many of the same steps, as that will help a future owner put the car back on track, preserving your investment.

[How to prepare a car for its first concours]

Then there are some other steps to consider. If your car is just going to be a static display, drain and stabilize the appropriate fluids, disconnect or even remove the battery, and generally treat it like any other car going into longterm storage.

If you’re going to occasionally drive it, you might want to detune a few things–the clutch, for example. A race clutch can be rather uncomfortable on the street and might not last too long. Race tires and brakes also belong on the track, not the street.

Want to own an old race car but don’t actually want to race it? You can just show it, too, and be the hero in a slightly less intense arena. Photography Credit: David S. Wallens

Will the engine be happy around town, or is the cam better suited for north of 6000 rpm? Consider swapping cams or just fitting a milder engine for now.

Of course, you have to make your car street-legal, meaning registration and insurance. For a mild MGB vintage racer, that’s pretty easy. For a 1990s tube-frame Trans-Am car, good luck.

Do You Make It Your Own?

Most of our discussion has centered around buying a complete car and generally leaving it as is. You may want to do more–maybe change the livery, make the car more aggressive, or even transform a back-runner into a winner. That’s all up to you, but don’t expect to get any of your money back.

[Project Car: 1965 Ford Mustang Fastback]

And if racing’s in the car’s future, keep checking those rules as you make changes.

Vintage Racing Groups

Vintage racing doesn’t fall under one blanket organization for the entire country. Some groups sanction events from coast to coast, while others are more regional in nature. And with each turf comes a unique vibe, mission statement and rule book–and one group’s regulations can allow cars prohibited by another’s.

Classic Sports Racing Group
csrgracing.org
Region: Northern California
Cars: Older formula cars plus production-based cars usually through 1990.

Corinthian Vintage Auto Racing
corinthianvintagerace.com
Region: Texas, Oklahoma
Cars: Most classes cut off at 1973. CVAR also hosts a Spec Sprite class for 1962-’74 Spridgets.

Heartland Vintage Racing
heartlandvintageracing.com
Region: Kansas, the Ozarks
Cars: Generally speaking, production cars through 1974 and formula cars up to 1980.

Historic Sportscar Racing
hsrrace.com
Region: Mostly East Coast marquee tracks–think Daytona, Sebring, Road Atlanta and Watkins Glen–but now also the Rolex Monterey Motorsports Reunion.
Cars: From the ’50s up through modern times.

Midwestern Council of Sports Car Clubs
mcscc.org
Region: Midwest
Cars: Pre-1974 race cars.

Pittsburgh Vintage Grand Prix Association
pvgp.org
Region: Pittsburgh, Pennsylvania
Cars: Generally through the mid-’70s, although some cars can be only 20 years old.

Put-in-Bay Road Race Heritage Society
pibroadrace.com
Region: Put-in-Bay, Ohio
Cars: Small-bore and formula cars built through 1972 plus Japanese cars through 1990.

Rocky Mountain Vintage Racing
rmvr.com
Region: Colorado
Cars: Depending on class, the cutoff dates are generally 1972 and 1981.

Society of Vintage Racing Enthusiasts
sovren.org
Region: Pacific Northwest
Cars: Generally at least 25 years old.

Southwest Motorsport
swms.org
Region: Sandia Speedway in Albuquerque, New Mexico
Cars: Vintage and modern.

Sports Car Club of America
scca.com
Region: Coast to coast.
Cars: Older cars still have a home in the Production and Improved Touring ranks.

Sportscar Vintage Racing Association
svra.com
Regions: The entire U.S., including famed tracks like Sebring, Road America, Lime Rock Park, Indianapolis, Watkins Glen and WeatherTech Raceway Laguna Seca.
Cars: From the ’50s up through those raced five years ago.

Vintage Auto Racing Association
vararacing.com
Region: Mostly California plus the new track in Casa Grande, Arizona
Cars: Usually those built through the ’70s.

Vintage Automobile Racing Association of Canada
varac.ca
Region: Eastern Canada
Cars: In some cases, all the way through 1997.

Vintage Drivers Club of America
vintagedrive.com
Region: Southeastern U.S.
Cars: Mostly through 1972 plus some SCCA cars through 1997.

Vintage Racer Group
vrgonline.org
Region: East Coast, Mid-Atlantic
Cars: Production cars through 1989 or, in some cases, through 1993.

Vintage Racing Club of BC
vrcbc.ca
Region: Mission Raceway Park in British Columbia
Cars: Through 1997 for some cars.

Vintage Sports Car Drivers Association
vscda.org
Region: Great Lakes
Cars: Eligibility has been expanded through 1997.

Vintage Sports Car Club of America
vscca.org
Region: Races and hillclimbs across the Northeast
Cars: Depending on the make and model, the cutoff is likely to be 1959 or 1965.

Vintage Sports Car Racing
vscr.org
Region: Upper Midwest, with races usually in Brainerd, Minnesota
Cars: Through the end of 1989 plus continuation models that are essentially unchanged.

Meet the VMC

The Vintage Motorsports Council acts as a coordinating body for the various North American clubs. The VMC also issues a license that most clubs will honor.
the-vmc.com

Formula Car Rules

When it comes to single-seat cars, many clubs simply follow the rules and regulations penned by Monoposto Racing. This group works to preserve the formula cars of yesteryear and has rules written for practically all single-seaters, from pre-1966 Formula 1 cars to ’70s-era club racing machines.
monoposto.com

Let’s Talk Values

Despite what the sellers often think, most race cars are not worth anywhere near the sum of their parts. The only cars worth a lot are famous ones driven by famous drivers–and with spotless documentation proving that history.

And yes, there are more than a few misrepresented cars out there, from outright frauds to cars sporting a few original pieces along with lots of replacement parts. Race cars are like Lego bricks, and parts get swapped a lot.

Almost all significant, famous cars were insignificant and uncompetitive at some point in their past, and many were parted out to raise cash for the next one. If you’re chasing a high-dollar car with history, do your research. Be very suspicious and take your time. If you find a truly historic car, expect to pay top dollar–more than the sum of its parts and more than a restored version.

What about the bulk of the cars seen in vintage and historic racing? As usual, it depends.

Cars that consistently run up front may be worth nearly the sum of their parts. Any other race car just isn’t worth much to an informed buyer–more like half the value of its street counterpart.

Buying from the podium is a good strategy if you want to actually race the car. Even here, you have to make sure all of the podium-winning pieces are still on it. (Sometimes the trick parts get replaced and–you guessed it–go onto the previous owner’s next car.)

Ideally, not only will the car wear all the trick parts, but the previous owner will share the setup and prep strategies that made the car a success. A car like this will cost significantly more than the average race car–somewhere up to the sum of its parts.

Better yet, though, a lot of these cars, especially if they come with spares, sell for half or less than the total construction costs–and usually still less than a street or restored version.

Every other race car should be considered a project car and purchased for a project car price. A car that wasn’t a front-runner or hasn’t run in a while will likely be uncompetitive, unreliable and maybe even unsafe.

Expect to completely go through everything on the car, and realize that it should cost significantly less than a street or restored car. Of course, the seller typically won’t agree.

Vintage, Historic or Just Old?

What exactly constitutes a vintage race car? It depends–on the group, the event and the date of the rule book. The answer is constantly evolving.

Generally speaking, it’s more about the vibe: putting older cars on track while keeping the racing clean and courteous. And that means penalties for aggressive driving and car-on-car contact.

Car eligibility has evolved with the times as well. When the HSR started to come together at Road Atlanta in 1977, for example, the grids contained cars from the ’50s and ’60s. Today, HSR welcomes cars that might have run in the pro ranks just a few short years ago.

Likewise, the organization behind the Put-in-Bay Sports Car Races has updated its rules. Where it used to limit cars through 1972, this year the group will also welcome small-bore Japanese cars built through 1990.

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