Potential FM buyer-to buy or not to buy?

Ill try to keep this short-My long time dream is the race open wheelers. I have about a years worth of experience racing spec miatas. Ive raced with all sanctioning bodies, ive won, and ive come midpack ect. ect. Quality racing no doubt, but the miatas just arent where my heart is. Ive learned a ton about going fast and i know i could learn more. However, the opportunity to buy a race winning FM has come about for a great deal and im really trying to decide if now is the time. Ive gotten all the feedback i can get from the miata guys, but truthfully i feel like they dont see anything outside of the miata circle. I know there are other avenues to pursue and thats why im asking for some guidance for those of you experienced in the field.

Things to note-Im very green when it comes to FM. I did a little shopping around and it would seem that parts are cheap. Tires however seem like theyre expensive @ a set per weekend. Any other odds and ends that i should consider when making the jump?

Also i will be running this solo-no team backing or paid backing or whatever you want to call it. I am a proficient and experienced tech so the workload wont be an issue. The learning curve is where i will run into trouble. Small issues that come about on a platform i am unfamiliar with can quickly get very annoying. From what I hear these are pretty basic, and easy to keep running. Thoughts?

The car in question is a 1998 FM with a rebuilt engine and transmission. Car was completely gone through last year and has won races this year. From what im told its 100% ready to go and many extras can be included. Theyre even offering a test day.

Thanks for all the forthcoming guidance!

I enjoy racing the car, but race a partial schedule each year to stay within budget I have established. I maintain the car and have a guy that is local that handles the rebuild of the transmission, which is good since I was unlucky enough to break a main input shaft and the shift fork that tore up a lot of gears.

If you have some skills as a mechanic you should be able to handle the service and repairs. Since the engine is sealed, nothing to do there. The engines seem to have a long life between rebuilds. I think the toughest part of the learning curve is setting up the car and making adjustments. There are people on this forum that have been very helpful.

Still waiting to see what will happen in the SCCA classes as now we are racing against cars that may have a better chance at winning. You can read up on that in the forum as well.

The car is fun, and the racing is good and that is why I have the car. Hope that helps.

I’ve been racing my FM for two seasons, this is my third, came from FV. IMO, the car is fast, easy to drive, very forgiving, reliable with regular maintenance and the engine and gearbox go a long time between overhauls. Parts are easily available from MSR, who are excellent folks!

The dogbox has a learning curve and I left foot brake, but one weekend and you will have it figured out. Tires aren’t so bad, just paid $2700 for two sets of Goodyears, one set 255’s (for racing in the freezing cold rain last weekend) and a set of 470’s for Hot summer racing in August. Also a set of Hoosier wets, hardly used because the rain always come after we’re on pre-grid!

I’m not a front runner and a set of 470’s last me about 12 heat cycles, maybe a few more, depends on how they feel. My mentor here is a runoffs winner in FM, so I have lots of good help from him. I also support myself, no problem without any assistance.

IMO, it’s hard to go faster for the cost. Just make sure there’s a group of FMs you can race with, otherwise look around and see what open wheel groups are big so you can have a race when you go for a weekend. CF is big here in the NW and that’s a similar cost option - almost as fast, and frankly fast is fun, but racing in a good sized group is a lot more fun.

Jim

these guys have fun in the paddock; cooking,reading, and polishing

I presume you mean “Barbecuing and reading by the backfires?”

We just bought our first car, a Vee. I long thought we could get a Formula Mazda sometime, they’re clearly a blast. The *only* thing stopping us is we’re too entrenched in the VW scene to deviate, Baby.

To the OP........ DO IT! In our case, we almost didn’t, for being poor for too long.

Then we asked a simple question: What will our memories be when we’re old(er)?

Quote:

---

Originally Posted by provamo

these guys have fun in the paddock; cooking,reading, and polishing

---

Well, we do check the oil and fill it up with gas. Sometimes even check the tire pressures :)

I remember when I first realized I had an alternator, so I didn't have to charge the battery (like I had to with the Vee) every evening. Pure luxury!!

The FM is good for mosquito and crowd control, with a loud - and smoky exhaust when cold - nobody wants to grid close to us except other FM's.

I made my purchase yesterday! Super excited to be racing open wheelers! Hope to see you guys out there!

A few words about your new purchase. I also am new two FM. Been racing a little over two years. Had my first FM win in Sept 21 and had a few podium finishes. The best was in the Polar Prix at Cresson in Jan. 22 where I finished 3rd over some of the best FM racers around. I had been passed by a couple of our racers but one spun racing for the lead and I made a final pass on one of the fastest guys on the track. He got a little wide in one of our fastest sweepers and gave me too much room. he could have squeezed me but he didn't. A true gentleman but it cost him a podium. My son-in-law spun on the next lap and caught on fire in the grass. The race was black flagged and the race was over. I say he took one for the Team. I am sure the two guys on my tail would have gotten me if the race had continued.
"But, That's Racing."


I house my car at Texas Autosport's. I do most of the work myself but when needed I get Moses Smith to do the job. When I say I do the work, Moses instructs me what I need to do and then I do it. Sometimes I have to call for help but that is the great thing of being at Cresson. You have the expert there. Can't say enough about the Texas Autosport's people. They treat me and my son-in Law great. My son-in Law got in to racing after watching one of my races. He was not a race person, didn't know anything about it. When hearing me talk about it he thought it was some back woods, redneck thing where we were chewing tobacco, drinking beer and racing jalopies. He was right about the beer. He was so impressed, he bought the Green car which is featured in many YouTube videos and is racing now. To my surprise he has beaten me several times. That ain't right!

You will love the car and the racing is great. I came from Corvettes and had to unlearn everything I knew about car handling. I am just now becoming competitive. It is easy to drive but tricky to drive fast. So far, COTA is the best. I love it.


That is the good news. The bad news is is racing is not cheap.
In 2021 I spent almost $30,000 dollars on maintenance and racing:
New carburetor, new A arm bolts, New fuel cell, rebuild transmission after breaking the drive shaft during warmup at Eagles Canyon Raceway. Missed the whole day of test and tune. Moses rescued me and got it back together for the next days races. I rebuilt it back in the shop under Moses direction. Now I know how to do it. Alternator replaced, Ignition switch replaced, MSD replaced, New rotors (Twice), every few races new brake pads, Brake master cylinder, several new mufflers (Seem to blow out every few months), new shocks, 4 new wheel bearings and replacing parts which probably have not been replaced in years. The problem with buying a 30+ year old race car. Also I eat up a lot of side panels. I could go on but it is what it is. I have a 97 FM (97-100), number 126. I say it is a restored 2022 FM. Not much I haven't replaced. One point, I run my car a lot. Almost every weekend. So your mileage may vary.


FYI, a little yearly expense info:
There are 7 Races on the Southwest schedule.
$1258 (Last bill) for tires for each race (mounted and balanced) = $8806
Race entry fees, avg. $850 = $5950 (This includes the Friday Test And Tune, Cota will be much more expensive.)
Fuel, I use a 5 gallon jug for each 30 minute session. The faster you go the more fuel you burn. 4 Test and Tune sessions = $75, 2 quals and two races another $75. Another $1050
For me, housing my car I spend another $5000.
Total without any normal practice sessions, maintenance cost, track incident cost, transportation cost or Hotel cost = $20,956. And I haven't turned a wheel yet.


I post this because many ask what the cost of running an FM is.


Have fun and we need more FM's down here in Texas. You can't walk thru Texas Autosport's with out bumping into several National Champions.
Here, you really are in the "Belly of the Beast."

PS
I am on the list for the all new FMzR.