In 1980 after considering racing in other series such as Formula One, CART, and IMSA, and getting advice from current Charlotte Motor Speedway promoter, Humpy Wheeler, Speed chose to go NASCAR racing. According to Speed, "It was the highest mountain to climb." Speed's relative unfamiliarity with the NASCAR scene led him to buy his first car from someone in Chicago. Speed started 19 races in his rookie year scoring an eighth at Darlington Speedway in his third career start. Speed also scored finishes of seventh at the spring Talladega Superspeedway race, eighth at Talladega's fall event, seventh at Charlotte's fall event and eighth at the season ending race at Ontario Motor Speedway. Speed finished 22nd in overall points and second to Jody Ridley in the rookie of the year standings.