If you look hard enough you may be able to pick up a Mk4 Fiesta Si on a "P" or "R" plate, either 1.25 or possibly with the 1.4 litre Zetec-SE engine.

The insurance shouldn't be a killer,the performance isn't bad (esp 1.4) and you should have next to no reliability or rust problems.

I sure wish I could have had something like that for my first car, but they weren't even on the drawing board then !

Good luck with the test by the way !