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There's worse things to spend your money on. I wouldn't strip it back to its shell or rewire the whole car personally as it's just not worth the cost and hastle.
I'd make sure the chassis is sound, sort the rust on the body and do the rest you mentioned.
Could be a bargain for someone these...
https://www.ebay.co.uk/itm/DUNLOP-TYRES-03G-195-50-15-X-4/153270530169?hash=item23afa2b079:g:edYAAOSwabRb9Vl-:rk:3:pf:0
Falken tyres have got better and better over the last 10 years so expect the ZE310 to be decent as per the below reviews. I've got FK510 on the ST and they are fantastic for £60 a tyre in 225/40/18.
http://www.tyrereviews.co.uk/Tyre/Falken/ZIEX-ZE310-EcoRun.htm
They already have a 200cel sports cat as standard, no point going 100cel for the money they cost. Get group n timing instead as this will give real gains.
Aye agree with the EP3 box as well, got mine with less than 20k on the clock and 5 years and 80k miles later the box was still as solid as the day I bought it.
It'll be bushes of some sort, especially if uprated they don't like cold weather. Saying that neither do worn OE bushes. Wheels off job for a visual check and get your pry bar out to check for play and noises in all bushes and ball joints or take it somewhere with hunter alignment as this...
Forget the racing series and just use it as a track car as you say. Strip, remap, tyres and brakes and away you go. Loads of weird and wonderful cars out there these days, and if you can pedal you'll be nowhere near the slowest out on track, not that that'll matter as long as you're enjoying...
If a budget build then track tyres and pads so you don't get fade to ruin the experience thats assuming everything else on the car is fresh and its aligned properly.
Then go do a track day in it, you'll soon know what it needs. I ran standard engine and suspension for around 10 days before I...
Mtec dimpled/grooved are decent, used them on a few track cars now with no complaints and i'm pretty hard on brakes with aggressive pads. Pagid OE are also decent from ECP. Done 3 track days and 5k road miles so far and they still look new.
-2.5 each side and I didn't use the slots on the AST strut for more so reckon you should get -3 each side with camber bolts. That will be a nice balance for road and track.
Nah I used the PMS with my 4100's no issues whatsoever. I couldn't stomach the cost of the AST units just for a bit more camber, albeit they'll have better bearings.
Don't bother with a decat as its a PITA come MOT time, they make the cabin stink of fuel and they use more to the gallon....oh and they give you naff all gains in performance.
Group N timing and induction kit will give half decent gains for not a lot of money, or if the belts need doing throw a...
Think he originally mentioned fitting a diff before even buying the car, that's around £2k. Suspension is expensive from Birds but cheaper options are available but you'll get a good chunk of that back, same once removing the diff if going with the M option. LCA's are a few hundred quid but...