Two points that most people seem to forget:

1. It's a performance car.
2. It's an old car.

As a result...

It will have been driven reasonably hard (that's what it is for), and, age will have taken its toll on the car.

So, it's no more or less reliable to any other performance car of its age, some may be better, others worse.

Has the engine done 150,000 miles ? If so it probably needs a rebuild, but then again, so would any engine made in 1988 with the same mileage

Buy an old porsche, mg, spitfire, etc... and they will drain your wallet just as much as a cossie will... You don't go out with a supermodel expecting not to spend money on her do you

I've had my 4x4 sapph for nearly 10 years now, and as much as I wish I could say I've succombed to its every need on a daily basis (which I haven't), I've treated her with respect, done what needed doing when it was needed. That means, oil, service and parts as required.

She's rewarded me with 70,000 miles (those I've done) of reasonably trouble-free motoring. May not have been toyota reliablity, but driving around in a reliable toyota camry doesn't float my boat

Compared with a BMW 850 and TVR chimaera we've also owned, the running costs of the cossie have been very low when you consider depreciation, insurance and servicing...

BMW and TVR in workshop = £1000 or thereabouts from wallet.
Insurance was around £1500 each (cossie is £700 !).
Depreciation - lost around £12k on each so £24k in total over a 4 year period, and that's not including the cost of finance... so... cossie...

Bought for £11K 10 years ago, now worth what... £4K
Servicing, £150 tops.

Bargain if you ask me... just remember that they are old girls and need a visit to the hospital from time to time, if you can't live with it, don't buy one and then complain it's unreliable.

Also, I know my limits mechanically, and use a professional for anything I am not 100% sure about.

Sorry about the long post, but I feel very strongly about this subject and I think my experience shows that a cossie can be used daily and not cost the earth (but what is expensive to you might be cheap to me and vice-versa... where do you draw the line ?).

We've also bought a 2wd about 2 years ago for £3.5K, can't say she's the mintest car in the world, far from it, cost £1K a month later in new head gasket, head, etc... but since then... nothing... nada... totally reliable