Hi timberwolf!
You plan is grand, but there's a good few things to think about!
When it comes to the car, only prep it yourself if you REALLY enjoy doing it and doing the prep is part of the fun. If it's all about the driving, then your probably better off, trawling racecarsdirect.com, motorsportads and the motorsport section of pistonheads to find one that'a already done. Prepping to race standard can be a pain!
Just stripping out and caging is fine for trackdays - you'll have a fantastic laugh and will embarrass some much more expensive machinery!
but..
Racing is a different matter - things have to be properly sorted with the car/equipment and then with you. There isn't any racing that isn't taken extremely seriously, even the smallest championships of the cheapest formulae have to conform to MSA specifications.
The car will have to not just be caged, but caged to to the standard required by whatever series you want to race in, plus you'll have to have a certain standard of harness, fire extinguisher etc etc (and they have a life after which they have to be replaced).
The best piece of advice that I can give from my humble experience it that the best way to get faster is to spend the money on yourself, not on the car. A few hundred quid spent on coaching with a reputable instructor like Callum Lockie of Graeme Glew will take more time off your lap than £000's spent on your car! Drivers right up to the highest level still take regular coaching. I can't reccommend it enough!
Unless you've already got it, you'll need equipment too - helmet (again, not just any helmet - it must be approved and 'stickered' by the stewards), Race suit (again has to be a certain type and in date), fireproof undies etc etc. Plus, although not a requirement yet, you really need a Hans device - I wouldn't reccommend competing without one.
If you lose the road legality of the car (which you'll probably will in order to make it competitive) then you'll also need a good tower to tow that trailer. If you're going to carry spares then you'll need to shift them too. Spares are always a massive catch22....they're expensive to sort but there's nothing worse than paying your entry fee and then breaking down for want of a £20 part!!
IIRC MSV were doing odd days where you can compete, but if you want to actually race in a series, or do test days, you'll need a racing licence. For this you have to do your ARDS test. It a 3 part thing with a written exam, a driving test and a medical. The info is on the MSA's web site - you'll need the "Go Racing" pack. There's a few places you can go to do it.
Have a look at these sites, they'll give you some ideas of what you can go racing in;
http://www.750mc.co.uk/
http://www.barc.net/competitors/index.php
http://www.brscc.co.uk/
http://www.msvracing.co.uk
http://www.britcar24hr.co.uk
there's a few more too, but I can't remember them!
Hope that helps!! I know it sounds negative but if you can it together it's the best fun you'll have sitting down!!
O.
