I already started on a fictional muscle car loosly based on an old Matchbox car I found. It's only a 180 polys right now but it's looking pretty nice so far. I'll post some Shots of the toy car if anyone else is interested. I'm a noob at modeling so it will be quite some time before I am done. If I were to do the contest I'd allow fictional and real car models, as long as they looked like a car.
[EDIT]: Someone has to model the Toyota RSC concept. It's the coolest SUV ever!