How expensive is it?

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Because of the speed capability within the cars, level of technology and their close association with top level formulae such as Formula 1, Formula 3 Racing in Australia has often been discussed or portrayed as being an overly expensive category in which to compete.

The fact is, however, that completing a full season of top level Australian Formula 3 competition is more affordable, more economical and delivers more value for money for all competitors than most believe.

In essence, you can’t go quicker on Australian Circuits for the cash involved.

The idea of this information pack is to portray the costs involved in competing in Formula 3 racing within a transparent, open and honest formula to show exactly how much is needed to run in the category.

Many of the costs are similar, or in some areas significantly cheaper, than in similarly or greater credentialed categories within Australian Motorsport.

Entry Fees are structured at $990 per round, with a one off yearly nomination fee to designate which class of the championship you will be competing in. This is structured at $2500 for Championship (Gold Star), $1900 for National Class and $1200 for Trophy. Membership fees of Formula 3 Australia are $300 / P.A.

Tyres are $1200 per set, and only one new set is permitted per round underneath the sporting regulations. The Cost of Tyres, and the restrictions placed on purchasing new sets, is a major attribute to ensuring that running costs are restricted to a competitive level when compared to other categories with unrestricted new-tyre usage.

With Formula 3 Cars designed and built to be maintained and updated over a three year period, the investment of a new car can be amortized over three years, if not more.

The Average price for an Ex European Dallara F302 – F304 Chassis with engine and a spares package is (AUD) $105,000. Resale after three years is approximately $60,000. The continuing evolution of chassis’ and the class structure in Australian Formula 3 enables cars to be sold to competitors within the other classes (Trophy and National) to ensure a solid second-hand market – and subsequent demand - within Australia.

Testing is restricted to further contain costs, teams limited to 8 days per championship year.

Once purchased, running costs are limited to general upkeep and maintenance, as well as consumables used by every national racing team in Australia including fuel, Accommodation, Transport, Wages (Where needed) and time as needed.

The following downloadable spreadsheet outline the costs required to compete at the top level in Australian Formula 3 as a privateer, including both Championship and National Class figures.

Professional Teams

A number of highly experienced and well credentialed Professional teams exist within the Australian Formula 3 community to provide the full race-team service to drivers and sponsors.

The professional teams’ advantage lies with resources, facilities and experience.

Budgets required are usually negotiated between the potential driver and team in question, however the general figure is between $20,000 - $25,000

Currently, Professional Formula 3 teams within Australia include Team BRM, Astuti Motorsport, R-Tek F3, Scud Racing, Insight F3 and Piccola Scuderia Corse.