Two such terms are "kit car" and "replica," frequently misidentified or used interchangeably, and understandably so. They're actually quite similar, and they may not even be mutually exclusive.

Back in 1978, Chevrolet celebrated the 25th anniversary of the Corvette by pacing the Indianapolis 500 and releasing a handful of special-edition pace car replicas to the public. Just 6,502 of the ...