Question regarding fmv and budget rules RE: my speed3 bring challenge eligible.

Had a thought. As many know- I own a 2007 Mazdaspeed 3 I purchased brand new in 2007. I want to say it has 88k on it. It is currently non-op due to a blown turbo (and God only knows what else, it hasn't run in 7 years). It's also suffered from a flood, a crushed rocker due to a failed jackstand, and utter neglect due to a combination of mental health, lack of funds, a divorce...you name it. This baby has had it rough. On the PLUS side, the suspension is pretty sorted (though it is deeply aged). F/r Hotchkiss bars, h&r coilovers, awr endlinks. Intake side is pretty weaponized- standard cai, pnp intake mani, etc. Also has a stainless midpipe. DID have a Cobb ap v2, but that was "stolen". 

Here's the trick. From what I understand, fmv can be assessed to things that have been in your possession for a long time. I've had this car for 15 years. I checked auto tempest this morning, and it seems the cheapest ones out there have double the mileage mine does, varying degrees of aftermarket, and have not gone for a swim. They also run and drive. 

My question is- could I potentially fmv this car and have it slide under 2k? If I were to let it go (which I'll pull a Michael and burn the thing down before I sell it) I'd truthfully value it at about $1500 MAYBE 2K as is. I'd leave myself my sell down to put myself back in, and that's about it. I'm still not sure I can get it running for the room in the cap I'd have- but I gotta be honest, this is the most I've thought about the car since I finally got it to Florida like 5 years ago. I know it's never going to be at the pointy end of the field, but it would be a reason to get off my ass and fix the berkeleyin thing. 

Any thoughts regarding budgeting and if this could potentially be allowed would be wonderful. 

Pictures of the car and links to listings of sub-$2k sub-100k mile MS3's in any condition would go a long way.

Personally I am not fan of FMV, especially applied to a whole vehicle. It takes the grassroots effort of deal-finding out of the equation.

FMV would not apply as you know what you purchased it for in 2007. 

Enter it in the non $2000 constrained class and come out and have fun. 

Speed 3This car is no reserve, and at least its kind of a comp.  For what my opinion is worth, your car seems like $1500-2000.

The STRONG consensus was that I couldn't fmv my totaled NB. (Although I could have sold it for sub $2K to anyone who could bring it)

Its a lot harder to fmv complete cars than parts. 

In reply to Mndsm :

Watch the twisting of words.  Just because someone can sell it cheap doesn't mean it's FMV is cheap.  I could sell any of my vehicles for $100 but that doesn't mean FMV is $100.  I say state your case stronger with examples for sale.  Help us help you.

We had a similar thread about my sons SX4 back in March. It's still hanging out in my backyard, so it never went any further than this thread about FMV

SX4 in need of engine

In reply to Stampie :

That's not an unreasonable request. I'm basing it on things I've seen in the past. The market has gone full stupid lately, so I may have to eat my own words assuming I can find anything that matches.