I'm starting to look for a cheap car. It can be a bit more expensive then $500, but no matter what, in the end I'd have to be under $500 total investment so it'd have to be something of worth that I can sell certain pieces off of.
A group of friends and I are gonna do the 24 Hours of LeMons. http://www.24hoursoflemons.com/
We have awhile to start looking into this, but wanted to put the feelers out there now.
Gonna be a fun time
Chris