Here's the thing about Lemons: you don't need to be fast. Also, you're more likely to win an award and prize money by having the most heroic fix, or showing up with a completely hopeless car and doing surprisingly well with it.
Neons are played out. The judges absolutely DESPISE E30 BMWs and Miatas, those are the two obvious choices which means you're just trying too hard to win. Instead, don't try to win at all. Show up with something completely hopeless and/or unique (TDI-powered Ford Pinto was an idea biochoppers tossed to me once when we were discussing the possibility of a SoCal TDI Lemons effort). You will win the admiration of the judges that way because you're showing them that you GET what Lemons is about. You will sail through BS inspection and have way more fun--not to mention far more likely to win an award which PAYS the same amount of $ (usually in nickels
) as winning does.
I've known of Lemons since about 2006. I attended two events in the Mid West in 2007 and 8. I was a co-owner/driver of a car that competed in several races (I only ran two events myself) in Michigan. The two I ran in were at Nelson Ledges in Ohio (a true 24 hour event in 2009! Only race they ran at that track...) and the 2010 "American Irony" event at Gingerman Raceway in South Haven, MI. We ran a 1984 Scirocco... with an ABA installed in it (yay VW lego cars!).
The first event we ran, one of the BS judges just laughed and said "Oh, it's a Scirocco! It won't even last 2 hours!" And that was the end of that. Sadly, he turned out to be mostly right. lol!
The car DID put up competitive laps, despite having only 115 hp. It also weighed less than 1900 lbs by the time we were done with it... Mk3 instrument cluster zip tied to part of the roll cage in front of the driver!
It was aided by a trick wheel alignment by yours truly and having a decent group of drivers.
The real trick? Put in the largest fuel cell you legally can and just keep driving. You don't have to be fast, you just have to put down all the laps you can, drive CLEANLY (way more important than you'd think) and minimize how many stops you have to do. THAT is the ticket to winning. I've seen many a Japanese car blow head gaskets from Lemons torture. VWs have their issues, but the iron block 4 cylinder engines are very stout.
Stick with something you can repair and already have a good group of friends who may have spare parts...