Best one I ever had for that money was a 1983 Jaguar V12 XJS with a very unusual Lucas P-Digital injection system.
Remove exhaust silencers, remove aircon compresor and modify the induction system to draw cold air from the front of the car. Ran close to 360bhp and consumed fuel on a par with the Ark Royal and tyres at a frightening rate.
Sadly the tin worm got it in the end. Most fun I've ever had for a few quid (in a car at least) If you want cheap high performance and old V12 Jaguar is the way to go, I think I paid Â£900 for it and ran it for a year or so until it was ruined.
Or go completely the other way and buy an old Range Rover, I've had 16 of them and loved each and every one
Petrol costs have driven me to the verge of bankrupcy several times over the last 20 years
Ive never spent more than Â£1000 on a car, and that is on the present one. A Rover 620ti Its fast enough (about 145) hasnt broken down, and all the toys work. Before that, the most was Â£600, but that was for a fire engine, with the idea of converting it to a camper van. It turned out to be more fun driving a fire engine for the summer
Capri 2.8i . One of the last proper mass produced RWD cars (BMW exepted). Mind you , looking on line you,d be lucky to get a decent one for under 1500 now. A Brooklands last year with 35k on the clock went for 15k !!!! I,ve had loads 1.6 , 2.0 ,RS2.6 (in BAOR, uber rare in UK) 2,8i & a mark one an a half RS3.1 which went like a fucking cat with its tail on fire !! There is a J plated Tickford example kicking about built by Aston Martin apprentaces somewhere. I shudder to think what that cunt would fetch.
Trouble is you have to dress like a power ranger whenever you go out. Plus you cant fuck a bird on the back of an R1. Well I suppose you could but you,ll have to be pretty agile & try not to scald your bollocks on the cans