Let's use that Cherokee.
Say you buy one for $3,000 that's a junker.
It's probably running a tired 4liter that you want to at least refresh or replace with a less tired 4.0. Unless you are leaving it bone stokc, you at least want to juice it up a little: Cam? Headers, exhauset and intake as a start.
So there is $1,500 on your stock motor plus upgrades and labor?
If you are lucky you are into your motor program for $3,500-4 for a runner.
What tranny are you going to use? Eventually you are either going to burn up the one you have and get it rebuilt or get yourself a new one and build it to withstand the rigors of racing.
You aren't going to leave the suspension stock but there are plenty of options that will run you from $1,500 to $5,000. Call RE, SkyJacker, Full Traction or any of the other XJ suspension manufacturers what a long arm suspension system that will get you about 12-13 in ches of travel will cost you.
Are you planning on keeping the stock rear end, gears ect. ? Even if you are you still want to take it apart, replace the axles wtih something a little beefier and truss the hell out of it so it doesn't snap like a twig.
A new rear end? Ask these guys what they are into their junkyward D44 after everything is said and done with cleaning it up and gears? and no one is welding a truss on theirs.
You'd be lucky to escape only spending $1,000-$1,500. and don't even think about calling Currie and getting one of their $3,500 race ready jobbers.
Then you have to get shocks. Bilstein 7100s will get too hot over the long haul so at a minimum you are looking at at least one 9100/wheel. At a minimum, with their racer prices you are looking at at least $500 a corner. Probably closer to 6+ if you plan to get a 2 or 3 check bypass.
Now you have engine and suspension.
And you can tie it all in with your cage. If you don't build it yourself, you are looking at at least 3-4k for someone to gut your interior and build you a legal race cage. Your fuell cell has to be built and tied into the structure and you are looking at 500 or so for that plus add-ons and plumbing.
Then when that's all done you can get the whole thing wired up.
Then you start spending money on other crap:
fiberglass
Seats
Harnesses
window nets
dash/guages
communications
GPS
air pumper
wheels
tires
Paint because you don't want it to look like crap.
Which is why you buy used. Your best move is to always buy a racecar from some other poor schlub that folloed his dream straight into bankruptsy after multiple refinances.
It's a cynical approach but you will often get yourself a competitive racecar for less than half of what it would cost to build it yourself.
All of this is why I envy the guys who do it so much. Because there is no money in desert racing. For
most guys like Dave, there is such a sacrifice of time and money and setting aside so many other things to prioritise your racing program. And I have one too many wives and three too many daughters and only so much money to go around to make that kind of sacrifice. Those lucky ones are those that are able to ballance everything and pursue their dreams more often than not for one race or one season at a time.
The rest of us poor slobs become fans.