I was in a similar situation a year or 2 ago.
I'd recommend going lipo/brushless straight off the bat. I didn't, then ended up buying a brushless system and lipos anyway, and wasted my money.
Second hand (either on here or on ebay) you should be able to get ESC, Motor, Battery and charger for around £150-£200 (possibly less).
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Schumacher Cougar SV2 : Speed Passion GT2 : Novak 7.5L
SilverstoneRCMCC
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