Paul and Martin Ottaway will motor around France, Switzerland and Italy this weekend for the Crumball Rally 2008.
The rally is based on the 1960s film, starring Michael Caine, with the route taking in many of the movie locations.
But instead of a mini – which was used to escape the Italian police in the film – the Ottaways are taking their old Volvo 940 estate.
The rules of the rally state that all cars taking part must have cost no more than £200.
The brothers hope to raise more than £1,000 for the Hampshire Air Ambulance.
Paul, who lives in Gosport, has arranged for his company Solar Direct UK to sponsor his car for the rally.
He told The News he was confident of completing the challenge without any major problems.
The 59-year-old said: 'I just saw it on the internet one day and thought it would be a great idea.
'We bought the car for £50 in Ashford in Kent and it is perfect.
'A lot of people have their cars scrapped at the end but we are going to bring ours back. If anybody wants to buy it they can have it!'
The rally began today in Boulogne. The competitors will have to tackle around 420 miles before arriving in the ancient city of Besancon.
Tomorrow morning they will set off for Turin, 250 miles away. The rally drivers will pass Lake Geneva before travelling through stunning mountain passes as they navigate the Alps.
On the third and final day the drivers will leave Turin in the north of Italy and make their way along the French Riviera and into Nice.
Paul said: 'We have been getting our car ready.
'We just can't wait to get started now.'
Different challenges will be set throughout the rally, including a fancy dress task - where participants have to dress up as Mafia gangsters.