The Gers boast a 100 per cent record this season in the Scottish League One, as they look to continue their climb back up the divisions after administration saw them consigned to the fourth tier last summer.
McCoist has seen many of the club's star players exit Ibrox in recent years and he now recognises the importance of adding some new faces to his squad.
"We are going to have to buy players. We've lost in the region of £45-50million worth of players," he told the Daily Star.
"We are talking about Allan McGregor, Nikica Jelavic, Steve Davis and Steven Naismith.
"Logic tells you that unless you're a wonder coach, you are going to have to, at some point, buy to get back to the level you were once at.
"I think we'd handle it okay but if and when we get back there, we expect to compete. There is a lot of work to be done but by the time we get there, I hope this experience will stand us in good stead."
McCoist watched as rivals Celtic ran AC Milan close in the Champions League during the week, but he says he is only focused on helping Rangers re-establish themselves as a force in Scottish football.
"It doesn't give me a reality check - it tells me what I've always thought. Not for a minute have I thought anything other than we have got miles to go," he said.