Old school Toyotas like RWD corollas, carinas, coronas, celicas, and supras are always cheap reliable and fun. I used to have a 1980 TE72 corolla with a 1.8 liter "3T-C" pushrod hemi, equal length headers, crower cam and dual 40mm mikuni side drafts. I had the rare model with four round headlights, everyone swore it was a Datsun 510, and it was quick enough to beat most civics. Oh and I paid $400, it had 310K miles. I drove it 100 miles out to ocotillo wells, off roaded it (my friend was with me off roading his BMW 320i- it was a sight to see!) and drove it 100 miles back with absolutely no protest from the car whatsoever. I even jumped it a few times when I was out in the desert- no problem. The sheet metal might be flimsy but the mechanicals are bulletproof.
Jake