AE86 is way too over priced and there getting quiet old
I would go for a clean SR20DE S13 5 speed.. You would get good milage and also be reliable. You can still make it look good at least, tuff wheels etc
I can think of 1 for sale at the moment, pretty mint condition inside and out, black in colour and its under 5k.. just needs rego and RW as its a fresh import but has been complianced
I also think a 96 model and up Honda Civic would be good, get the VTECH version and do little upgrades like induction, exhaust etc
They are still fun little cars to drive
Go for a newer car so you will at least get some resale value on it when you upgrade in a few years time, you also want something that you won't be repairing/spending money on every weekend so try and find someone reliable