When starting up a Late Model team, do I buy the cars with sponsorship dollars or buy it myself?

May be...

It all depends on how smart you are and if you can smooth talk someone into it. No sponsor I know of will give you money if you don't even own a race car, but if you can talk someone into it, more power to you. Most sponsors won't talk to you without a team already in place and something to prove you are worth an investment.

If you build it, they will come.

You will probably have to build one yourself and then get sponsors, unless you are lucky and get some good sponsors with deep pockets. There was a local guy here in Louisiana that did that and won a couple of races now they all want to sponsor him. Good Luck !

Buy or Build the Car Yourself. Then use the Sponsorship Money to race it--This is how it works 99% of the time!!!!!!!!