I'd go an get a Peugeot 205 GTI 1.9, althought FWD, great little cars and really cheap compared to the hot hatches. E30 would be my other choice, but recently they are getting rather expensive, how about an E34 535i...bit of a barge but would be good fun in a gymkhana.
MR2... hmm depends which generation as the handling is a bit scarey when you lose traction...but great driving position, just a pain to work on the engine.
FXGT Corolla with a 16v 4AGE, also FWD I'm afraid...
Quite sad that I've owned most of the cars we're talking about lol. You'll need to find something that is a little bit obscure or doesnt have every kid wanting to own.. hence the reason Hondas, Silvias, MX5's are so expensive. Get an old 924 Porsche