Beau:
I would suggest a 1993 Mustang.
For around $7,000. you should be able to find a nice one with reasonable mileage.
The '93 is available in LX or GT models and in a hatchback or convertible. Best of all, they come with the mighty 5.0 engine which, except for hypereutectic pistons replacing the forged aluminum pistons and the HP and torque ratings dropped by 20 (HP) and 25 (torque) due to assembly changes over the years - according to Ford.
Lots of cool options available on the '93 and of course, they are the last of the 'fox' bodied Mustangs, making them a bit rare, even now.
You'll need sub-frame connectors and bracing for the chassis, upgraded brakes, good rubber and a few other items to make the '93 competitive in road racing but these additions would be good to have, anyway.
Watch out for worn synchros on the T-5 transmissions (gears clash when the car is cold), leaky rear main seal (very common) and of course, all the usual items such as a repainted wreck, lots of mods that you have no clue were done correctly or with high quality parts, etc.
Look for a stocker, if at all possible. It'll be in better shape and not screwed up by someone modding it without the knowledge to do it right (of course, some do).
Good luck!
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