Joining the Fun

Maybe you've seen us at Goodwood or a club meeting and wondered if you could do it? Well you can!

500cc Formula 3 racing and hill climbing is one of the less expensive forms of historic motorsport and our members come from a wide variety of backgrounds. Most owners maintain their own cars which is quite possible with normal tools and mechanical aptitude, you certainly don't need a team of professionals to get you to the starting grid.

Perhaps you're considering restoring a car? The 500 Owners Association is the ideal place to find out how it's done and who are the people who can help you.

So this is what you do.....

Club members often know about cars and parts which are not advertised but are available or can help you confirm the history of the car you're interested in and whether its in regular use. The Club operates a registration scheme to document 500cc Formula 3 cars. Ask if the car you're looking at is registered and check with the Club Registrar.

The next thing you need to decide is whether to do hills and Sprints or circuit racing, or even mix the two. Either way, its a big step up from non competitive events, such as track days. A great way to decide, and learn, is to come along to a race or hill climb, the schedules are posted our web site. Contact the appropriate Secretary who will introduce you. You'll get an opportunity to see how the day runs, what's involved in preparing and running the cars and may get a chance to help out in the Assembly Area with some pushing. You will learn more in a day with us than any text book can teach you.

Whichever route you choose, you'll need a Competition Licence from the Motor Sports Association. For circuit racing, you will have to do an ARDS (Association of Racing Drivers Schools) test which takes half a day and you'll need a basic medical. Details are on the MSA web site and in their Go Racing Pack. None of this is too difficult and can be fun but it takes time, so plan this in advance. The arrival of your first Competition Licence is a moment to treasure.

There is quite a range of cars to choose from and you can find out more in the Marques Section. Broadly speaking, they can be broken down into production cars such as Cooper, Kieft and JBS and specials. Production cars tend to proliferate but don't be put off specials, many were well constructed and very competitive, plus you're more likely to be invited to high profile events, such as the Goodwood Revival, if you have something a little different. Inevitably they will have a higher proportion of bespoke parts than a production car but most of the individual components will be "off the shelf" from a variety of '40 and '50s road cars. In England, we're particularly fortunate in having a whole industry dedicated to historic cars and parts and everything can be bought or made. The internet helps you to find these specialists wherever you're based. 500 Owners Association members can advise you on parts and suppliers and can help with fabrication of bespoke components.

Car values are always difficult to accurately predict but as a very rough guide:

Under £10,000 for an incomplete car in need of major restoration work with little or no history.

£10,000 to £15,000 should bring a complete car capable of running but probably requiring some rebuild work.

£15,000 to £20,000 covers a complete and running car with some history.

£20,000 to £25,000 for a ready to race car, in excellent condition and with good and demonstrable provenance.

£25,000 + for a perfect car, ready to race with championship pedigree and a big name driver (proven) in the history.

Over and above these general guidelines, you should also consider and adjust your offer according to:

Has the car got 500 Owners Association VIF papers or FIA Papers?

Does the car have a Norton or JAP engine? Add a little for Nortons, subtract a little for JAP.

Has it been exercised recently? A car in regular use is more likely to be reliable and will be better known than one that's been tucked away for a while. Its also more likely to meet currently safety and other regulations if it can be shown to have passed scrutineering recently.

Is the car to correct period specification? There is some allowance in the rules for some non period modifications (and some are mandatory such as fire extinguishes and rear lights) but you should check with the Registrar.

What spares and equipment are available with the car and what condition are they in? A good spares package is always useful and, while it adds to the initial cost, can save you a lot over time.

Yes but my significant other says we can't afford it?

Well you probably can, so consider this. What is the real cost? It isn't purchasing the car, £20,000 may sound like a substantial sum but old racing cars tend to hold their value and may even appreciate a little if you look after them. They are subject to the market, like everything else, but the real cost is usually the interest on the investment and the cost of maintenance and running which is usually far less. We don't encourage people to buy 500s as investments, they are meant to be used, but it helps to sweeten the pill. Contrast this with that 4x4 in the showroom, it may look nice and shiny but it will depreciate like a stone. You'll loose thousands just driving it off the dealers forecourt and three years down the line it will probably have lost far more than running your 500. So why not keep your current road car for a year or two more or buy a used car that someone else has taken all the pain on and spend the difference on something with rather more passion? Telling people you're a racing driver is a much better line on the school drive or the office than buying a BMW, just like everyone else. Oh, and its much cheaper than a mistress!

Running costs

Its impossible to give meaningful figures for maintaining your car as so much depends on how much you do yourself, how many events you do and what sort and so on. Most of our members are owner drivers, which not only saves a lot of money but will produce better reliability once you've done your apprenticeship. Racing is a little more expensive than hills and sprints, partly because the load on the car is greater so things like an engine rebuild are more frequent but also because entry fees are higher, a typical race entry fee is around £150. You should also budget for fuel. Most cars run on methanol which available from most chemical suppliers, as its used as an industrial solvent. You should pay about £25 for twenty litres which is more than enough for a race and would cover several hills. You should also budget for B&B and travel expenses for some events, depending on where you live.

In accordance with the Company's Memorandum of Association every Member of the Club undertakes to contribute to the assets of the Club in the event of its being wound up while he/she is a member, or within a year afterwards, for the payment of the debts and liabilities of the Club contracted before he/she ceases to be a Member, and the costs, charges and expenses of the winding up, and for the adjustments of rights of the contributors amongst themselves, each amount as may be required, not exceeding one pound Sterling.