how about a metro GTi?? 1.4 and you'd get one for probably less than £700!!!! i had one years ago, Pirellis and i took some of the fluid suspension out..... twas like a go-kart and stuck to the ground amazingly...... just a shame it was a rover, hahahahaha
dunno if you'd get a half decent one nowadays though, bet there all scrapped
*edit*
heres one, with a 1.6 engine in!!!
1991 ROVER METRO GTI WHITE on eBay, also, Rover MG, Cars, Cars, Parts Vehicles (end time 02-Aug-08 19:29:22 BST)