Last year he raced a full season in the V8 Challenge Cup in New Zealand before following his dream to the United States.
Pedersen moved to California in March to join a Nascar development team.
From there he started racing for a group called Bill McAnally Racing in the late model series.
"It's massive over there. Even the little series like the one I raced in we would get 10,000 people to the track."
He said he had a good start to his debut season before things fell apart with the car.
"I was in the top three with five races to go, but had five DNFs in a row to end the season," he said.
"Everything that could possibly go wrong went wrong - the car caught on fire, the brakes failed, you name it."
However, he still finished fourth overall and earned an offer from another team to support him next season. "The other team I'm looking at are offering to pay half the budget."
Half the budget is about $250,000, according to Pedersen.
Pedersen said, to his knowledge, he was the only Kiwi to currently race in a Nascar series.
Pedersen said it was early days but his goal was to work his way through to the top Nascar divisions - the Nationwide Series and the Sprint Cup.
"To be honest I would be happy with my career if I made it to the Nationwide Series. I hope to be in there in five years," he said.
"My long term goal, so 10 years, is getting into the Nascar Sprint Cup which is the top tier."
He said what motivated him was the challenge of making it to the top. "I like the challenge of racing and the challenge of making it to the top. I want to show people that the little Rotorua Kiwi kid can make it to the top."
Pedersen said it would be great to lift the profile of Nascar in New Zealand.
"At the moment people think it is cool but they don't know much about it, probably because New Zealand television doesn't show it. So when I get in the big series I hope they will show it on TV like they do Indy cars with Scott Dixon."
He said there was a lot to like about it.
"I think people like the big V8s and the banging and close racing and the crashes," he said.
"The big series in the States will get anywhere between 60,000 to 180,000 people to a race."
Pedersen said his goal for the summer was to raise enough money to support him next year in the States. He is currently based in Napier and plans to hold a fundraiser night in Rotorua, Napier and Auckland in the coming months. Pedersen attended Western Heights High School.
Pedersen is the cousin of Rotorua's Ant Pedersen who races in the V8 SuperTourers series in New Zealand and has raced Bathurst.
To support him or learn more about his adventures visit his fan page on www.facebook.com/HaydenPedersenRacing.