A long time ago (ok, it was only two years ago) I used to own a 1985 Pontiac Fiero. Base coupe tragically saddled with an automatic transmission and anemic 2.5 liter Iron Duke engine. As I told everyone, it was fun, but damnably slow fun.
Though I did manage to get some decent finishes at our local autoslalom events, finishing as high as fifth over all with it.
It was old though, and less than reliable. I cycled from "keep it forever!" to "F***ing thing", from joy at keeping an old car on the road to near tears with frustration at times, from planning and starting to buy parts and a donor car for a v8 engine swap to ultimately selling it and moving on.
The decision to sell it came when my better half told me to get rid of it and go buy the Miata I really wanted. It was late summer 2007 when the Canadian dollar hit and exceeded par with the USD, so car prices in the US were very attractive.
My decision was to buy a 2005 Lava Orange Mazdaspeed Miata, which at the time was selling for $15-$18k USD at retail all over the East coast of the USA. I figured I could land one here, imported, modified and all, for $21k USD not including the trip to get it (which, as I saw it, was a bonus for wife and I to enjoy).
Then my supposedly reliable 2002 Mazda Protege went in the shop. Every six days for six weeks. I realized I couldn't trust the car to survive long enough to pay off the Miata, even though the Protege was barely five years old and had only 65k on it. So the Protege was sold as well and I used the money I would have used to pay off the Miata to lease a new car.
But that doesn't stop me from dreaming about owning a summer car. I've been watching prices in the US and Canada to see if/how they're being affected by the current economic downturn.
Thus far, they seem resilient. I've been looking at the major online sales locations though (ebay, cars.com and autotrader.com), so perhaps I need to look in a more targeted fashion at areas with worse economic situations.
I just re-read that post and it sounds terrible, as if I'm trying to profit from or make any kind of light of the misfortune of others; that's not my aim at all. I'm just looking at sports cars.
I started writing this post as a companion piece to Earl's "A summer driver" series of blog entries, so without blathering on any further, here's my list.
It's not structured like Earl's, though I suppose I could do that. Perhaps in another six months when I write another entry.
When it comes to summer cars, I have multiple categories. There's "I could afford that and see myself buying it", "I could afford that but it's too expensive for me to justify", "I lust of someday owning that" and "Dear God I wish I was filthy rich."
Today I'll talk about the first category, "I could afford that and see myself buying it".
I find myself looking at these three vehicles the most. So in no particular order, here's my top three possibly affordable and sensible and hence attainable used cars:
1. Mazda Miata. Preferably a late NB (that's the second generation car introduced in 1999). My plan back in 2007 was to get a Lava Orange 2005 Mazdaspeed MX-5 (note the lack of the word Miata....it does not appear on the Mazdaspeed MX-5). Mazda made only 394 copies in Lava Orange, and they were only available to the US market, and only in 2005.
This picture is kinda big, but I think the beauty of this car in this color deserves it:

(Image courtesy www.miata.net)
The values of these cars have seemingly not fallen a smidge since 2007, which is rather incredible. The Mazdaspeed MX-5s did not sell well and many languished on dealer's lots for months. Apparently they are now a couple of years older and the used car lots seem to be latching onto their rarity as somehow increasing their value. I've seen this before with the 1988 Pontiac Fiero.
Anyway, moving on, here's my second choice. The Honda S2000. These are $52K new in Canada and $30something new in the US, so the used prices for 2004-2006 models in the US are approximately 1/3 the cost of buying one new in Canada. They have classic Honda reliability, with engines good for 200+k MILES if looked after. Oh, and they make 240 hp with an 8000 RPM redline for the second gen (AP2) version, 9000 rpm for the AP1.
My favourite color on the S2000 is called Laguna Blue, which came out in 2006 and was used in 2008 to make the Club Racer (CR) edition. I prefer the non racer version:

(Image courtesy www.autospectator.com)
The third car I find myself returning to is the Porsche Boxster. It is available in the same general price range as the S2000 and Miata as long as you don't mind a slightly older car. I think my favourite one of these is the 2004+ restyled version in either trim as the 2004+ base model makes about the same power and handles as well as the 2003- "S" trim:

(Image courtesy www.analogstereo.com).
The Boxster would be best in red, yellow or blue, though some of the one-year colors they've done would work well as well. JUST NO SILVER! I think 50%+ of all Boxsters you see are silver and that's just too done. Aside from the fact that I can't stand silver in general anyway.
I'm going to end this one here for now. I've changed my mind and I will do this as a multi-parter. Next time will be cars on the second tier of my "I could afford that and see myself buying it" list.