No offense, skip and exigeracer, but I don't think you guys have the right idea jumping into 0-60 times and drifting and such right off the bat. Not everyone is looking for that sort of thing -- if you look at WhiteFC's post, he's concerned about a solid engine, an overall reliable car, and one that's relatively inexpensive. Very reasonable criteria, in my opinion.
Anyway, here are my suggestions, in order of plausibility:
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BMW E30 3-series (1984-1991) -- very reliable, safe, great fun to drive, great gas mileage with the 4-cylinder models
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Mazda Miata (any that are within your price range) -- very reliable, economical, great fun to drive
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Volvo 240DL (80's) -- very reliable, safe, and unique
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Toyota Celica Supra (mk.II, aka "the early 80's one") -- pretty solid reliability, more powerful than the above cars, a cool sports-GT
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Toyota Supra (mk.III, aka "the late 80's one") -- pretty solid reliability, more powerful than the above cars, but not as cheap
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Nissan 300ZX (80's, not '89+) -- RUST!! Otherwise, turbocharged models are plenty quick, but NA ones are more reliable, fun to drive, and awesome 80's looks
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BMW E36 3-series (1992-1999) -- reliable, safe, fun to drive, good gas mileage, but rather expensive, depending on your price range
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Pretty much any 80's Mercedes-Benz, especially the E190 model, or a diesel, if you can stand the smoke and smell -- rock-solid reliability, very safe, but not very easy to find examples that are both inexpensive and in good shape
I personally wouldn't recommend the 240SX, not because it's a bad car, but because almost no matter what you're going to end up paying too much for one because of their popularity. They're also a more likely target for vandalism/theft than most other cars, again, because of their popularity. If you think you've found one for a decent price, and aren't worried about vandalism/theft, then the 240SX is a fairly reliable, fuel-efficient, fun-to-drive little coupe. Just don't go and do
this to it.
