Ropes

So I have been toying with the idea of buying a cheap car to turn into a track car for time attack or rally cross racing, or just track days. There are a few criteria I want to use to select the right car such as. structurally sound, compatible with some decent engine swaps, availability of mods, preferably rear wheel drive (this is not necessarily that important.) fairly fast at it's standard state. CHEAP. Ultimately my question is what car would you buy? I am thinking maybe a Peugeot 306 gti or a Ford Puma 1.7 16v or Masda mx5 mk1. tell me what you think.

Hi guys and girls, I'm Sam (I see theres at least one other Sam here so Ropes is fine.) I'm 28, live in Swansea and work as a fork lift engineer. I am a new E46 owner reacently picking up a bargain 53 plate 320d saloon with the msport package. I already love her to bits and she is 100% standard (for now.) The car suffers from a touch of rust on a couple of arches and a slightly buckled bonnet. but yet to get it on a ramp and give it a real good check over. Heres some pictures let me know I don't think she looks bad for 600 quid.