Your car or bike is sorted and ready for racing – and that’s the main cost out of the way.

You’ve invested in your own gear, worked your way to a Competition Licence and have all the costs of participating in events under control. Entry paperwork, fuel during racing, getting to the event – it’s all covered.

And then some unexpected cost comes along. It should’ve been obvious, but wipes out all that careful budgeting you’d worked so hard to keep on top of.

So you’re one step ahead of things, here’s some hidden expenses that may unexpectedly catch you out.

Cha-Ching. Expense 1. It’s likely you’ll need a trailer to transport everything to the motorsport event

Especially if you have a long journey ahead of you as well. You may be lucky and find one that’s second hand in decent condition.
The structure of the trailer will need to safe and sturdy, the tyres in good way. If any improvements are needed, this may set you back a bit. It’s also advised that you look into vehicle transport insurance, just in case anything happens.

Cha-Ching. Expense 2. Accommodation – where are you going to stay?
You’ve decided to do the bulk of the travelling the day before your event at the weekend.

A word of warning: don’t ever make this a last minute decision. All the reasonably priced and comfortable accommodation will be booked, and your only options will be a 5-star country hotel or kipping in the car.

Camping is also a popular and reasonable option for those competing in motorsport on a budget.  But again, book a camping spot early because campsites close to events can get fully booked quickly.

Cha-Ching. Expense 3. Massive repair jobs.
A brake pad here, a quick fix there – those aren’t going to break the bank.

But what if the suspension completely goes, you roll the car or something major happens to the bike – what are you going to do then?

These kinds of repairs don’t come cheap – so it’d be worthwhile bearing in mind that this could happen. Also look into specialist motorsport insurance policies which are tailored for those who compete in motorsports.

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Cha-Ching. Expense 4. Entrance fees for events.
Fees to participate in motorsport events can vary, depending on the event. It’s a good idea to do your research the year before to get an idea of the costs. Then you won’t risk overstretching your finances – and having to pull out of an event because of poor budgeting.

Have you ever been caught out on a motorsport expense you’d never considered before? Let us know in the comments.