Can I put a word in for the delightful MGF or TF. I've had mine for 3 yrs, and he's called Colin.
My Grandad died in Jan 2007, and because my mum died before him, me and my bro got her 5th of his estate between us. It was £6500, so wouldn't really have made any impact on the mortgage, and we'd been looking at going from crappy L reg Golf to a 2-seater for several months, maybe even 2 years.
Anyhow, we were cruising the Autotrader website daily, and found my car from a Home Dealer in Peterborough, about 30 miles from home. Went to see it, test drove it, bought it, still love it IMMENSELY.
Amittedly, mine is the top end model (TF160), but the others are good too, and although they've just brought out some new models, I still think the 1999-2005 model years are the best. Now you could pick one up for about £2500-£4000 depending on the age and model. You also find that those that have owned them have looked after them.
Also, we have become very keen members of the MG Car Club, and now do quite a few social things with them - it's not just weirdy beardy petrolheads
As well as looking at the likes Autotrader, check out the specific magazines for the ones you like, as there'll be classifieds in the back - the MG one is called MG Enthusiast, and WHSmith stock it, or your newsagent will be able to get it.