Yup, as Peter pointed out, you are missing something. =) We all could put $4k into our car and have something that could drive on the street. But, once you get into it, you realize how many things are wrong with the old car and how much better you want it to be.

I have $20k in my car... and I did all of the labor (except the new paint) by myself. And of course, I DIDN'T WANT a 100k motor that somebody had been thrashing for 10 years. I purchased a low mileage (20k) motor and tranny for $4k. (only a couple of years after the LT1 was available) For me, getting a motor that wouldn't destruct in a year was more important than getting the cheapest motor I could find.

If you buy a converted car, it is much cheaper. But, you don't get to "choose" what motor, tranny, body style, color, etc. that you want to put together.

Any way, good luck!

-simon