Is this car worth modding?

ALMOST any car can be modded to increase speed but there are def certain castings that will almost always be worthless on the track. This however doesn't appear to be one (just not something I would use unless required). You can also always buy some more cars to use as wheel donors to replace the pink and blue ones 

Every car, within reason, has potential; some castings require more work to bring it out. If this is for a dragstrip, then you have less to worry about weight balance and everything to worry about achieving pure speed, tuning wheels and axles. If this is for open road racing, keep the weight positioned as low as possible with a good balance fore and aft as well as treating the wheels & axles. The high ride height and raised back end of the Charger give me concerns for winning on a road course 

Every failure has in it the seeds of future success, and the same techniques even when close to perfectly executed, may not transfer exactly one track to another. You could wreck faces at one event and still come up middling with the same build elsewhere. In the end, you nearly always benefit from gaining experience. 

Some additional thoughts, I have seen from two different racers where they choose a casting and obtain several copies (I counted ten in one example) and test to find the best candidate and then begin to build on that one. Also I saw a host test upwards of 50 cars to find two to send elsewhere for a stock competition. That race had a field dominated in number by two castings and not all were running equally fast. The selection process can  get involved to put it lightly.  

Nothing here is meant to discourage you. Every race, you'll learn something to apply to the next build. It's a process. 

I’m new here, my name is Al. Thanks for having me. I’ve been following Redline Derby Racing for months and this is what it takes for me to break my silence.

I really, really like this car. She wouldn’t be my first choice to building a serious race car but now that the cats out of the bag, I want to build one.

Almost every casting has potential. Some simply have better attributes to be successful at drag racing. After you complete a number of builds, you will learn which of them are important. Wheelbase, wheel size and style, weight placement, lubes, etc. 
Build what you like, is what I always say. It keeps your motivation to finish up. 

its a good find for a buck!

I just got one too.  Fast, but it hated the 8 foot straight foamboard track out of a 180 turn.  Spun out every time.  No problems, it's now a very cool demolition car!  :)

Well it was a bit of a rush job but I did find an old HW bus and the wheels were a good fit. So after some modding and lead addition and quick makeover - I have a nice looking Charger. Need to drop the times by a tenth or two to be competitive.

Great orange paint

You gotta love fresh paint on a casting. My first attempt was to have yellow wheels and keep the stock paint with the decals wiped away. Second attempt are front and rear wheels from a West Coast Flyer. this will require some hogging out of the wheel wells. I tried to fix the stance but chose to embrace it for now. I would have happily drove a car like this in high school. 14 grams of automotive wheel weights can easily be slapped to the undercarriage for some low, rear-biased ballast.

When I sandwich this all together I hope she rolls straight, I have a technique but it’s not 100%. I also have no clue what my cars weigh. I’ll show off my test track once I figure out how to post it in my profile. Thank you, Al.