Just to help you out a bit I just uploaded a list of tools we purchased to "start" our garage last year. Our rookie year everything we used was borrowed the team had nothing. Last year we got a sponsor to buy most of the tools on the list. The prices will be a rough guide for you, the names of the actual tools are the more important thing.
CLICK HERE!
Any questions just ask or pm me
/edit ohh yeah the year prior we did purchase a drill press, which was left off the list. I believe that a drill press can be very important, you'd be amazed with some ingenuity ( and possibly a lexan blast shield ) what you can achieve with even a cheap harbor freight one!