Hey guys,
Very good topic!
This is actually an interesting point. I'm thinking of purchasing a fairly heavily modified R33 GT-R (over 300awkW) for that very reason. I'm not a cheapskate, but I don't feel like buying an almost 15 year old car stock for 25-30k and spending another 30k modding it. I am also weary of potential problems associated with buying a modded up car.
The first question I ask myself is why did someone feel the need to invest ~30k on performance mods? Almost certainly to make use of the extra power! If they drag raced it and did dyno shootouts, that's fine. But if it did serious track work, there's a good chance the engine and chassis are on their last legs.
When I find a car I would like to buy, I will no doubt get someone like StateRoads to inspect it. It is my understanding that it costs extra to have a full engine compression test performed (as opposed to a simple engine balance check), and for a modified car, this may be worthwhile. However, I have a concern regarding that. Suppose you have a highly modified engine with good performance parts, but a cracked/damaged engine block. Would a compression test reveal any potential problems? (I have a feeling it won't, but if anyone knows otherwise, please correct me).
Also, do StateRoads have experience with inspecting the state of the installed mods (eg. is the upgraded fuel pump due to fail or is it noisy by nature), or are they unfamiliar with anything non-standard?
I guess what I'm after is a general consensus on buying modified. Is it a thrifty way of getting your hands on a high-performance vehicle, or a sure-fire recipe for a series of high cost repairs and many weeks off the road?