Sorry, but SRF chassis are so over built that they don't get tired, they would have to actually flex to do that. :) Chassis number 003 recently sold, and for pretty much the same price as a later one.
As for converting, I do no think the kits are available any longer, so you would have to buy all the pieces. The engine is something like $3800 new, plus a tranny (at this time NO new ones available). Plus axles and other parts to make the switch, mounts, header, fuel pump, wiring, ECU, pumbling, etc, etc.
So figure the Renault car would have to be some $5 - 6K LESS to be financially similar, and you have a bit of work ahead of you.
Better to buy a good used SRF for $18K +/- and go racing.