Quote from ajp71 :

I know that the front running cars in the 750MC Formula Vee championship are spending serious amounts of money, so much in fact that there are drivers looking to move up to F4 (1.8 Zetec, wings and slicks) into nearly new (and potentially front running cars) because it costs the same to actually be in with a chance of getting anywhere. Formula Vee is a very competitive formula and whilst the cars are very simple engines are expensive and really it only offers the first transition from karts to real cars.

That's British Vee's, there's a big difference. However if you want to win in any form of motorsport you more than likely gonna have to spend money.
Although in Vees (Irish Vees, as he is Irish!) there are often A, B and sometimes C races so you can find you can go for a C or B championship on a VERY low budget.

Many would suggest Karting however I have a different point of view:

Karing provides intense hard racing, which certainly is a great thrill, however sometime its so hard it is painful if you take it on as a hobbilist. If you are a outright racer in your heart then it wouldn't be a problem.

But I think there're a few plus side with formula Vee/budget racing like westfields or so.

1.A car with suspension and gears is simply different from a kart, it may be personal preference which is better but a lot of my mates, me included who had been karting for some time, do feel that a car provides you more freedom in how you drive it, and because it's less of a assault in your senses you can analyse how you drive and improve better.

2. You get to drive on proper racetracks, get some real speed and most importantly the sense that you are really going somewhere. With the array of tracks in the UK its one big plus.

3. As it's less intense then karting, there's a more laid back and friendly atmosphere around the paddock (i.e. the lawn behind the pits)

4. if you are doing club racing, you might even convert your track ride for street use. When a kart is done with, it's done with.

I would disagree ... naturally

1. Karting gives you a lot of freedom in how you drive. Especially in the lower grip classes. You can go as far as to hwo you use your own body weight and movement to change the karts handling. The involvement as a driver is second to none on 4 wheels. If I wanna chuck the kart sideways on the brakes I can, if I don't want to and be mr smooth i can do that to. Surely an assault on your senses is the very reason why you wanna drive? Otherwise it's just like simming (even though there is nothing wrong with that)

2. Sense of speed is only relative. Having never raced in cars I can't speak from personal experience, but MANY times you will hear from top drivers (Senna, Tracy etc...) that closest thing to the feeling of a F1/IRL/ChampCar in terms of speed etc... is karting. Hence the reason you see Alonso, Kubica, Kimi, Wheldon, Vettel etc... all training in karts over the winter.

3. There's a more laid back feeling at car meets because you don't get much seat time. Motor racing for me is all about intensity and having fun. that to me is atmosphere.

4. not quite - http://www.youtube.com/watch?v=DwYXabC_8wM lol

Really you need to look at your budget and analyse what you can afford, and attend several meets to see what you prefer.