Formula 3 was created in post-war Britain as a venue for inexpensive racing. The 500-pound, 500cc F3 cars were noisy, tiny, and sometimes home built. They were often ridiculed but very fast. With an all-independent suspension, tubular chassis and motorcycle engine placed directly behind the driver, the Formula 3 cars are said to have led directly to the Formula 1 'rear engine revolution' of the early 1960s. Although Formula 3 was not created as a training class, Stirling Moss, Peter Collins, Eric Brandon, Don Parker, Jim Russell, and Ivor Bueb were just a few of the many top ranked British drivers of the 1950's who began their careers in the seat of one of these motorcycle engine powered 500cc cars. In 1959, the 500cc formula was discontinued in favor of the Formula Junior specification.

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