This would not be my first choice or how I would build it. But I did do this with a friend for shits and giggles and it works. Also while it is street legal (it has title, plates, insurance and is street driven) I'm sure it wouldn't pass MOT. Not even from 100 feet. :? And please don't ask me about specs. Some I know and some are just parts pulled off of other cars because they work.
* '88 Mustang LX, 4 cylinder, sad but cheap and straight $400
* '90ish Mustang 5.0, well built, very very wrecked $1000
* used GT40 heads, plate nitrous system, injectors that probably fell off the back of a truck, if you know what I mean $250
* used headers, crossover, dumps $100
* worn out 165/15's from one of my cars $0
* almost new 10" Mickey Thompson slicks, traded for seats from 5.0 $0
* steel to build cage, subframe connectors, motor plate, etc $150
* junkyard C-4 every couple of months $150 a pop
* mindless shit you need at 2AM $500
* other stuff that escapes me right now, priceless (had to say that)
Add to the recipe too many late nights, pissed off neighbors when you start it at 3AM and for not a whole lot you have a 10-second car. It is tuned based on the big bang theory. Keep launching harder and adding nitrous till you hear a big bang.
So the moral of the story. Call it $3000 more or less. Numbers, well therein lies the rub. We run at a little local outlaw track (we do NOT street race but this is close, only legal). It's an 1/8th mile, all concrete, very poorly laid. The bikes will get the rear tire 4" in the air on some runs hitting the cracks. Times for the 1/8th are mid 6's which extropolated will put the car deep into the 10's. Warning do not try this at home.
Next time I feel like typing I'll tell you how I did it. See ya.