Just go with a Miata, plenty of power for sliding fun. Get an LSD and an intake and you will be able to spin the tires like crazy. I personally wouldn't go with the 1.8, it might be a larger slightly more powerful engine, but the 1.6 is almost as powerful, but much smoother and is the block is already tapped for an oil drain, unlike the 1.8. Turbo-ing it would be a sinch. The Miata fits all of your standards perfectly, cheap insurance (dirt cheap for a 21 yr old), awesomely handling cars (go with the 2nd gen if you want the creme de la creme of suspension, though the 1st gen. will still handle better than 70% of the cars on the road), and consumer reports give it almost perfect reliablity reports. Just my
.