Brian, If your parts are not too large a band saw does work great. Since I was using 3'x4'x8' blocks of foam to make my body, it would take a very large band saw. I made a hot wire cutter that could cut through 4' thick foam for about 12 bucks. I used my welder for the power source. Only need 5 amps with a .030 wire. If you do use a hot wire cutter, be sure you use EPS foam and not urethane. Urethane foam puts out a toxic gas when melted. I also used the drywall compond because if you use automotive body compond, it can melt the EPS foam because of the heat it can generate. Urethane foam seams to handle the heat much better, but again it cost a lot more than the EPS. You do have to apply the drywall compond in layers. As stated before, if you put it on too thick it will take forever to dry and will crack. Again, I am not a expert in this, just passing on info on what I did and cost was a factor for me. This was not the best way to build the buck but was the most cost effective way for me. I will send you more detailed info on this some time this week end.
JerryO