Simulated racing, go kart racing, and actual racing are two entirely different things.

What class would you be racing, and style?
Drag, circle track, rally, baja?
Do you have the technical expertise, time, and room to gut and rebuild a car?
Do you have a shop willing to put time and, likely, parts, into your new race car?

After getting the vehicle, how do you plan on promoting and racing?

Your estimate of 2800 usd for a race ready car is ridiculously low. Multiply by 2.5.

What's your local track? Do they advertise or is it just 'come as you are'?

Keep in mind you're representing bitcoin when you decide to race with that logo.

Probably don't want to come in anything less than 5th in local circle track.