Team Star Wars: Luke looks for scrap, while Fett watches the other teams from the shadows, and strikes like lightning while their backs are turned to grab anything good they've found. Han and Chewie weld Junk randomly together until it begins to look like a vehicle. Han drives the machine when it's finished.
This is a good team, with an excellant chance of winning.
Team Prequal: Anakin sulks because he isn't in charge and hover vehicles arn't allowed. Watto steals some good stuff from the other teams, but puts a big bet on one of the other teams winning. Jango Fett ignores the others and builds his own machine. Kenobi spends a lot of time trying to cajole the others into working as a team, while getting Anakin to do the technical stuff. Eventually Jango's machine is finished, and he reluctantly lets Anakin drive it.
With Anakin driving victory is possible, even so this team isn't as good as some of the others.
Team TOS: Scotty and Spock put their head together to come up with a good design and build it. Sulu goes out to find scrap. Kirk... encourages the... others. Sulu drives the vehicle when it's built.
This is another good team.
Team Imperial: Bevel Lemelisk dies horribly when a pile of junk falls on him, Jango just happens to be first to be first on the scene but is unable to save the poor defenseless EU engineer

Thrawn mistakes some particularly twisted piece of junk for Bespin art and spends the entire time staring at it thoughtfully with his chin in his hand. Veers and Piett put their heads together and come up with a simple workable plan, but they lack man-power and engineering skills to do a good job, but they do finish their design. Veers drives it when it's finished, though they don't stand much of a chance of victory.
Team DS-9: Miles and Dax come up with a design, while Sisco and Kira search the junk piles. The design isn't as good as Team TOSs, and neither Sisco or Kira are much good at finding stuff. But Kira eventually steals some good stuff from the other teams, and the design eventually works. Dax drives it, but none of this team are really good engineers or drivers.
Team SG-1: Carter and Jackson come up with a design, while O'neil and Teal'c search the junk. Their lack of understanding of the technology hampers them, and they have difficulty getting their machine to work. O'neil eventually drives the vehicle, but his lack of trust in it means he goes much slower and more cautiously than the other teams.
Team Cartoon Network: Dexter is the only one here that I know, and I'm sure he would have brilliant plans for his vehicle and the ability to build it. But I'm not sure that he would find the junk to build his design, and the eventual vehicle would be a terrible disappointment to him. None the less, it would still be a good performer, only limited by the skills of the driver.
Team Evil: The first team discussion would go ary, and the team members would all storm off to the junk yard individually, with no team coordination. But a desire to win would eventually force them to compromise and more or less work together. They'd hammer together a workable design out of the assorted junk gathered individually. The eventual vehicle would look hideous, with some parts reminicient of Edwardian England, some late 20's century input, some parts from a clowns car and some parts being destinctly 1960's inspired. What saves this team is that they'd put a lot of individual effort into screwing up all the other teams, while still managing somehow to make a working vehicle of their own. On the down side, they'd also put a lot of effort into undermining the other members of their own team.
The joker would probably drive it in the end, but the other team members would all be terrible back-seat drivers.
This team wouldn't win, and the mutual recriminations might become leathal, so stand well back.
So overall either the TOS team or team SW would win, with the Prequal team probably coming in third.