So a man buys 1991 BMW 318i for $500 off Craigslist and by the grace of the FIA and meticulous combing of the rules for loopholes enters it in the Mexico leg of the World Rally Championships.
He proceeds to take his 20+ year old, $500 car, weld his own FIA complaint roll cage, drop an untested E30 engine in and with the help of a co-driver who spent no time with the car before the race took off to Mexico to race against $400k factory rally cars.. They placed a reputable third in their class.
This story is "holy shit" awesome, and I'll be smiling about this for weeks I think.. If I'm not off somewhere welding a roll cage :-)
http://jalopnik.com/5497042/how-a-500-craigslist-car-beat-400k-rally-racers
http://jalopnik.com/5500013/i-co+drove-the-500-craigslist-rally-car
Here's one of my favourite photos:

and some fan video:
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