Forgot about that, Thanks.
While 500$ can get some working motor, we've decided that none of those will be sufficient for the race application. So we think of a plan and we got one. We break into Castle Bromwich Assembly in Birmingham and steal some engine and parts, But all we manage to get is a Jaguar AJ-V6 3-litre Engine, and the P4 weigh 1 and a half ton, but as this particular example has a weight reduction kit (In form of rusty body panels.) We reckon it'll be good enough. Of course the original 4 speed manual won't fit and probably not going to last the race, but we also nicked a ZF 6 speed automatic normally fitted to an XF, so we mated it to the V6.
We then separated the body and the chassis, as the engine requires a lot of engine mount modification. And working without a body is much easier. We have found not really surprising amount of rust. and we aren't going to fix them. (Race cars are light, rust makes the car lighter, fact). The engine and the gearbox went in. The gear knob that raise from the centre console is also fitted (We just cut the stolen center console of a Jaaag and place it on the bench seat, and wired them up). We then spend 400$ on a new wiring loom. The car fires up beautifully.
With 100$ left, we decided at this point not going to take it to the MOT, it'll required too much work to pass.
Suspension? We just put in some stolen new original spec leaf spring and shock absorber.
We then spend the 100$ on a new set of second hand
Indian branded race tyres. And we've founded that it won't fit the original steel wheels, so we went out and found some shit Minilite that the tyres will fit.
It now runs, and will be able to compete, what could possibly go wrong?