Well those Peak Vantage motors are nice... cheap too.. but not stock. A 27T is considered a stock motor for racing in most novice classes.
A new motor will cost you between $25 and $45. Maybe you could go down to the local track and buy a used one from one of the racers. Usually you can get one off somebody for around $10-$20. Make sure it has a fresh cut and good brushes on it. Brushes alone will cost you between $2-$5.
The only "long" lasting brushes if you can find them are the Trinity XXX LeMans silver brushes and they go for $15 a set.. but will last you the entire life of a motor.. good speed to with very little brush maintenance.
A stock brushed motor will need to be cleaned, and oiled just about every day you run them.. also the comm should be cut every dozen runs to maintain good speed. Brushes you also be looked at and filed down often as well.. If you take care of the motor, you should only need about 2-3 sets of brushes for the life of it. These means that you only run it 4-6 minutes at a time and let it cool if you are geared for racing. Any more and you will shorten the life of the brushes and the motor itself.
Speed may not matter so much in novice.. Mostly driving. As I tell all the folks getting into electric, you should save up for a brushless system and you will save money and a lot of hassle in the long run. Novak just released their budget Havoc BL system with a 17.5 and it only costs $140! The motor itself goes for $80 just about everywhere! It is a sensored setup and has LiPo cut off too.