Ratchet, Field Medic // Ratchet, Rescue Racer — ruling 1

Ratchet, Field Medic's last ability doesn't require a target. If you convert Ratchet as it resolves, a second ability triggers and you choose a target for it. Players may respond to this new triggered ability as normal.

Ratchet, Field Medic // Ratchet, Rescue Racer — ruling 2

Multiple instances of gaining life that happen at the same time will cause Ratchet, Field Medic's last ability to trigger that many times. However, it can convert only once when that happens. Once it has converted due to that triggered ability, the rest of the abilities will resolve and do nothing.

Ratchet, Field Medic // Ratchet, Rescue Racer — ruling 3

The convert keyword action functions the same way as the transform keyword action found on some other cards; to convert a permanent on the battlefield, turn it over so that its other face is up.

Ratchet, Field Medic // Ratchet, Rescue Racer — ruling 4

The mana value of a converted permanent on the battlefield is equal to the mana value of the card's front face, no matter which face is up.

Ratchet, Field Medic // Ratchet, Rescue Racer — ruling 5

Converting a permanent doesn't affect any Auras or Equipment that are attached to it. Similarly, any counters on the permanent will remain on that permanent after it converts. Any continuous effects from a resolved spell or ability will continue to affect it. Any spells or abilities on the stack that target a permanent continue to do so after that permanent converts.

Ratchet, Field Medic // Ratchet, Rescue Racer — ruling 6

Any triggered ability of another card that triggers whenever a permanent transforms will also trigger whenever a permanent converts.

Ratchet, Field Medic // Ratchet, Rescue Racer — ruling 7

Similarly, an ability of another card that instructs you to "transform" one of these cards will cause you to convert it, even if that ability doesn't use the word "convert."

Ratchet, Field Medic // Ratchet, Rescue Racer — ruling 8

"More Than Meets the Eye [cost]" means "You may cast this card converted by paying [cost] rather than its mana cost." It functions in any zone from which the spell can be cast.

Ratchet, Field Medic // Ratchet, Rescue Racer : règles, fonctionnement et interactions (MTG)

Ratchet, Field Medic // Ratchet, Rescue Racer is one of those cards players keep asking about. Here is, in plain words, what its official text says, the rulings published by Wizards of the Coast, and the combos players actually run.

Official card text

More Than Meets the Eye (You may cast this card converted for .) Lifelink Whenever you gain life, you may convert Ratchet. When you do, return target artifact card with mana value less than or equal to the amount of life you gained this turn from your graveyard to the battlefield tapped. Living metal (During your turn, this Vehicle is also a creature.) Lifelink Whenever one or more nontoken artifacts you control are put into a graveyard from the battlefield, convert Ratchet. This ability triggers only once each turn.

How it works : Ratchet, Field Medic // Ratchet, Rescue Racer

Original English text — Wizards of the Coast / Scryfall

#1October 14, 2022· Wizards of the Coast
Ratchet, Field Medic's last ability doesn't require a target. If you convert Ratchet as it resolves, a second ability triggers and you choose a target for it. Players may respond to this new triggered ability as normal.
No other card is named in this ruling.
#2October 14, 2022· Wizards of the Coast
Multiple instances of gaining life that happen at the same time will cause Ratchet, Field Medic's last ability to trigger that many times. However, it can convert only once when that happens. Once it has converted due to that triggered ability, the rest of the abilities will resolve and do nothing.
No other card is named in this ruling.
#3October 14, 2022· Wizards of the Coast
The convert keyword action functions the same way as the transform keyword action found on some other cards; to convert a permanent on the battlefield, turn it over so that its other face is up.
No other card is named in this ruling.
#4October 14, 2022· Wizards of the Coast
The mana value of a converted permanent on the battlefield is equal to the mana value of the card's front face, no matter which face is up.
No other card is named in this ruling.
#5October 14, 2022· Wizards of the Coast
Converting a permanent doesn't affect any Auras or Equipment that are attached to it. Similarly, any counters on the permanent will remain on that permanent after it converts. Any continuous effects from a resolved spell or ability will continue to affect it. Any spells or abilities on the stack that target a permanent continue to do so after that permanent converts.
No other card is named in this ruling.
#6October 14, 2022· Wizards of the Coast
Any triggered ability of another card that triggers whenever a permanent transforms will also trigger whenever a permanent converts.
No other card is named in this ruling.
#7October 14, 2022· Wizards of the Coast
Similarly, an ability of another card that instructs you to "transform" one of these cards will cause you to convert it, even if that ability doesn't use the word "convert."
No other card is named in this ruling.
#8October 14, 2022· Wizards of the Coast
"More Than Meets the Eye [cost]" means "You may cast this card converted by paying [cost] rather than its mana cost." It functions in any zone from which the spell can be cast.
No other card is named in this ruling.
#9October 14, 2022· Wizards of the Coast
The cost is an alternative cost, so it can't be combined with any other alternative costs. It can be combined with any applicable additional costs.
No other card is named in this ruling.
#10October 14, 2022· Wizards of the Coast
When you cast a spell using its More Than Meets the Eye ability, the card is put onto the stack with its back face up. The resulting spell has all characteristics of that face.
No other card is named in this ruling.
#11October 14, 2022· Wizards of the Coast
To determine the total cost of a spell, start with the mana cost or alternative cost (such as a More Than Meets the Eye cost) you're paying, add any cost increases, then apply any cost reductions. The mana value of a spell cast using More Than Meets the Eye is determined by the mana cost on the front face of the card, no matter what the total cost to cast the spell was.
No other card is named in this ruling.
#12October 14, 2022· Wizards of the Coast
A spell cast this way enters the battlefield with its back face up.
No other card is named in this ruling.
#13October 14, 2022· Wizards of the Coast
If you copy a permanent spell cast this way, the copy has the characteristics of the card's back face, even though it isn't itself a double-faced card.
No other card is named in this ruling.
#14October 14, 2022· Wizards of the Coast
"Living metal" means "As long as it's your turn, this permanent is an artifact creature in addition to its other types."
No other card is named in this ruling.
#15October 14, 2022· Wizards of the Coast
While it's a creature, the Vehicle has its printed power and toughness.
No other card is named in this ruling.
#16October 14, 2022· Wizards of the Coast
If a static ability of another permanent applies only to noncreature permanents, that ability applies to a Vehicle with living metal only during your opponents' turns. For example, if you control Arcee, Acrobatic Coupe and March of the Machines, Arcee will be a 2/2 artifact creature during your turn and a 3/3 artifact creature (because its mana value is 3) during each opponent's turn.
No other card is named in this ruling.