-Mustang GT? Not the best looking, not the highest quality...but you certainly can amuse yourself with an ~300HP V8.
1998 Lexus GS400?. 300HP, V8, Lexus reliability.
-1998 Eagle Talon TSI AWD?
-S2000? I have seen them that low..but usually the bottom end ones are $12K or so.
-Dodge Stealth Twin Turbo
-Acura Integra GS-R
-Acura RSX
-Lexus IS300