Don't waste all your money on a car. Especially if you plan to spend all of it, and $10,000 of someone elses on a conversion. If it's taken you approximately 18 years to save up for $5000, how long will it take to pay off $10,000? It's easy to get a loan ..REAL EASY. The hard part is paying it back.
Things break, accidents happen, EVERYTHING in life costs money. You need food, clothes and shelter first

Will you have $600 for a secondhand turbo if yours breaks?
Will you have $1000 for a new bottom end when the lack of $60 oil changes seems too expensive, so you skip a few?
How do you feel about paying $1.60/Litre for premium grade fuel?
How about $800-$2500 / year insurance for being 18?
So lets do the sums after you've got this engineered and registered.
Paying back the loan est. 3 years: ~$300/month
12 month costs:
$3600 - Loan repayments
$3500 - Estimated $67 / week (daily driver)
$1600 - Insurance (even only 3rd party damage)
$700 - Registration and Insurance
$170 - 2 oil changes and filters.
$250 - prorata'd cost of tyres. (replace every 3 years)
$80 - Coolant and radiator flush
---------
over $9600 per year.
Some years, you might need to buy a new engine, or replace turbos. If you can't do it yourself that could be a surprise loss of another $2000-$3000.
I'm not a parent, nor am I a financial advisor, but unless you live at home until you turn 30, this is not a good idea. I have always had a good job, and I've had to wait until my 30s to realise the things I wanted when I was 17.
Go out and have fun, enjoy being a young person, go out and party all night, don't condemn yourself to quiet nights at home eating bake beans on toast, just so you can have this car that you don't even understand how it works.
Trust your uncle Chris
