Originally Posted by BuckWyLD
Since I chose other, I'll play devil's advocate. My choice would be an older model Mazda Miata. You want light? There you go. My friend has one STOCK, and when I drove it around it felt like it was on rails. I could only imagine what one modded would feel like, especially with a beefier suspension.
Count me as another vote for a first gen(known as NA) Miata. It will without a doubt be cheaper than any of the other choices in the poll and by a wiiiide margin at that.
Go here and start drooling and dreaming: Flyin' Miata 1 800 FLY MX5s
Ignore all the ignorant pricks that call them gay cars. They're one of the best sports cars ever made and to ignore them just because they don't have the most masculine image is silly. Besides, they can be made to look plenty masculine and badass.
If you're looking for AWD another choice would be a GC Impreza or a bugeye WRX, both of which are pretty cheap now and have tons of potential.
But honestly, if you really want a fantastic and fast track car on the cheap, do a Lotus 7 style kit car. Flyin' Miata is a distributor for the Miata-based Westfield.
Flyin' Miata : The Westfield
Or there's always the WCM Ultralite which uses an F20/22C from an S2000 for motivation. Even with stock engine this one has a power-weight ratio of less than 5lbs per horsepower.
World Class Motorsports
Or perhaps the AMS Murtaya. AWD and less than 2000lbs.
AMS Murtaya Sportscar - 400bhp 4x4 from Exclusive Exports
Murtaya: The Subaru WRX/STi Based Lightweight AWD Roadster
The higher quality modern kit cars are very well sorted vehicles with great handling and every bit as much reliability as a production car, and they're quite easy to assemble.