Can I lease my Challenge ride?

Not sure what else to call it other than "Creative Cheating". 

Was killing time in a friend's shop explaining how the Challenge worked and he said "Got the ratty but running Fox Body 302 in the corner doing nothing". "Sell it to you for $2000 if you promise to sell it back to me for $1500 when you get back".

ANY running mustang in Canada is selling for WAY more than $2k, but it is a legit business deal with tittle transfer and all that.

I don't see where it violates the "Fair market value" clause since anyone would be free to negotiate such a deal. 

A similar thought tossed around the room was a $2000 BS claiming class. It would be identified and segregated as such and no budget sheet preparation would be required. However, the car would be for sale to anyone who wanted it for $2000 at the end of the event making it a defacto $2000 car. This class would be driven by how much $$$ people were willing to flush down the toilet at the end of the show just for the fun of participating in the Challenge.  I for one would be all over this option.

Pete

I believe that violates the Stampie Rule:

The Stampie Rule: Parts borrowed for the event must be added to the budget at the owner’s purchase price or fair market value. If two builds elect to share parts at the challenge, such as a set of wheels and tires, then the parts must be included in both builds’ budgets at the full purchase price or fair market value.

In reply to Tom Suddard :

So a "lease" with a defined profit for the "lesor" is considered "lending"? 

I don't see it as falling under the Stampie rule, since lend and lease are not the same thing,  but wont object if it were declared outside of the rules anyway. More of a case that I don't think it has been considered yet. Just stirring the pot here, no dog in the fight.

In reply to NOHOME :

I have a few Challenge eligible cars in various stats of close to running if you want to fly and Stampie rule one. 

In reply to NOHOME :

Any inside deals—parts, whole cars, trades, donations, stolen parts, etc.—must be added to the budget at fair market value.

This sounds like a textbook "inside deal" to me.

I don't see much value in arguing over the minutiae here. Lease the car, enter the over budget class, and have some fun with us!

You can register right now at 2000challenge.com

Why do you need ANY money to change hands?

BORROW the car and enter it in the over budget class. 

If the title has changed hands, it's not a lease, it's a sale. 
 

But it's definitely an inside deal. 

In reply to Driven5 :

Not so much an inside deal as an unexplored deal. But I agree with Mr Suddard that it is a moot point.

The inside deal thing is also a hard one to define. One person's grapevine will be replete with people who have stuff hoarded and for sale at a good price while most of us are stuck with FB marketplace and Craigslist. If I convince my contact to sell me something at a challenge price, how is that different than someone here offering to sell me something at a challenge price because I posted a need? As they say in Wall Street "ALL trading is insider trading".

NOHOME said:

The inside deal thing is also a hard one to define.

Seems pretty easy to me. For a deal to be arms length the public has to have access to it. Posting a WTB on a public forum (i.e. this one) would count, as would picking up a former challenge car that was advertised here for a killer price. 

Somebody got a ridiculous deal on my former challenge car when I posted it here. It's an arms length transaction because anybody in the public had access to it.

 As they say in Wall Street "ALL trading is insider trading".

The group that shows up at the Challenge has a better set of morals than traders on Wall Street =)

Just lease/borrow a car, enter it in the over budget and come have fun.

Stampie said:

In reply to NOHOME :

I have a few Challenge eligible cars in various stats of close to running if you want to fly and Stampie rule one. 

Don't tempt me with a good time.

I just came here to say that when I read the headline, I immediately got a mental image of someone renting a Challenge car through an app like Turo.

NOHOME said:

Not so much an inside deal as an unexplored deal. 

If he wouldn't be willing to publicly advertise the same deal and give it to the first rando that replies, it's an inside deal. The burden of proving that would seem to be the major hurdle to utilizing 'grapevine' deals.

Stampie said:

In reply to NOHOME :

I have a few Challenge eligible cars in various stats of close to running if you want to fly and Stampie rule one. 

I mean.....that's actually a really cool offer

In reply to NOHOME :

It's not an "unexplored deal". That's doublespeak nonsense. 
 

You said the car would never sell in your area for that price. You said your friend would sell it to you, but only if you agreed to sell it back (which means he's not really selling it). He would offer the deal to ONLY you. 
 

That's the definition of an insider deal. 
 

If he's serious, I'll put $2000 cash on the table right now. But I'm pretty sure he wouldn't sell to me. 

In reply to Colin Wood :

I may throw the Escort up on Turo now. 

singleslammer said:

Stampie said:

In reply to NOHOME :

I have a few Challenge eligible cars in various stats of close to running if you want to fly and Stampie rule one. 

Don't tempt me with a good time.

If you're not careful y'inz are gonna turn the Stampie rule into a Stampie class.

Stampie class. That just sounds...

right. 

In reply to Floating Doc (Forum Supporter) :

Negative. We all know Stampie has no class.

For my purposes,  the "no-budget" class  would suffice as a way to join the party. I have no vision of ever being competitive in the actual $2000 event. Wrong talent toolbox for that game.

Pete

NOHOME said:

For my purposes,  the "no-budget" class  would suffice as a way to join the party. I have no vision of ever being competitive in the actual $2000 event. Wrong talent toolbox for that game.

 

 

Pete

I will disagree with you on the last point. You have a skill set and a couple of like minded  friends that would work well on a $2000 build.

Driven5 said:

NOHOME said:

Not so much an inside deal as an unexplored deal. 

If he wouldn't be willing to publicly advertise the same deal and give it to the first rando that replies, it's an inside deal. The burden of proving that would seem to be the major hurdle to utilizing 'grapevine' deals.

So what you are saying is that any purchased part must have had a public "for sale" add  printed and attached to the build log?  I did not know that. Most of my parts sourcing comes from trades and buys from people that I know; that would make the part ineligible for use on a challenge car eh?

In reply to NOHOME :

Yes, that's generally correct. Those parts would be budgeted at Fair Market Value.