Are you doing the work yourself???? There is a lot of little stuff that will nickle and dime you to death!! you can tack on about another $5000 pretty easily.
buy a used one, race ready, for about half the price!!!!
I am a budget utv racer and did it all for under $18,000. I did do the cage work myself and run Bilstien shocks with an HCR LT kit. Like people were saying in the earlier posts though I run one day MDR type events that don't require all the super high dollar hardware. My most expensive item to keep up with is tires so I just keep an eye on craigslist for people selling stock wheels and tires. I have yet to break an aluminum wheel but have bent some stock steel wheels beyond repair. I will be running my 4th race november 7th in barstow. If you get to work now you can make it too!
By the way you can still run a bolt on cage at MDR and Baja Cup races provided it has the proper gusseting.
You might get more detailed/specific answers if you let us know what series you plan on racing in - then we can pinpoint exactly what you will need to be competitive, and at what level......
Roll cage tied to frame - $800-$1200
After market full skid plate - (uh, not sure - always made my own)
Window nets - $40 -ish each (Summit! woot!)
Proper rear lighting - You can do this anywhere between $30 and $500 - bulb or led? Lightbar or frame mounted? I always go cheap cheap cheap on the lights - lol!
Racing seats - $250 and up each new (starting from $75 each used, usually)
Fire suit - $85 - $3000 - depending on what you want to spend!
Helmet - $180 - $500 full face (new) - again depending on what you want to spend
Fuel cell - $350 and up - depending on how big and what brand - I always used JAZ
I am estimating about 20K, am I off?
My only question is WHY? For the cost of a UTV race ready vehicle you could have a real race car. $30+K for a short wheelbase vehicle that isn't likely to finish a long race is just insane. You can pick up a good 1600 car for half that and can get into lot's of other classes for about that much or a whole lot less.
Sorry just don't get the UTV class for the money. Unless you are running short course races like Corry that pay.