1. I have had the car since '92 it has 275,000 miles on it and is not worth selling.

The money you are saving by starting with that car will be spent 10x by building rather than buying.

2. ITA is the only class this car can race in.

See #1.

3. I like it.

You'd better because it will sit unfinished in your garage for a long time.

4. While I want to be competitive, I want track time more. I have already started the work.

You can have more track time sooner by spending less on something else. Work spent is a sunk cost. You'll never get it back but good money after bad is always rough on the fun factor. Jeff can tell you more but you're looking at 2-3x the amount of $$ to just get it legal, safe, and out there, as you would spend on something that's already done.

K