Well, I'm planning a Lotus 7 replica (2 seater, no roof -- but let me see, baka hindi natin kayanin ang araw, eh). I have detailed plans from a book and various internet sources.

How to Build Your Own Sports Car and Race It, by Ron Champion (check na lang in either www.amazon.com or www.amazon.co.uk). Kung gusto mo, photocopy mo ng buo, okay lang sa akin.

What I like about it:

Space Frame Chassis
Superb handling (Caterhams and Westfields are known to leave behind Ferraris and Porsches on a track)
Fantastic Power-to-Weight Ratio (estimated weight of vehicle is about 600kg).

What I don't like about it: the looks... masyadong British. But the more I look at my copy (of the book) and various internet sources, it kinda grows on you.

Total Budget: P150-200k

Actually, kaya naman less than P100k, but siguro 12R na lang engine... heheh... pero okay pa rin in terms of handling.