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My advice, Break it for parts, Buy a 172 with receipt for cambelt / dephaser, Your going to spend £400 on belts, More on pads & other bits, You can pick up a decent one for £1500.
Look at the tips on this page, All points that can help bring your premium down: http://www.moneysavingexpert.com/insurance/car-insurance-young-drivers
Insurance is silly at the minute!, I do hope your not trolling as there has been alot about this kind of thing lately, Some tips:
Add parents as named driver (women drivers bring the price down a fair bit)
Quinn are usually cheapest for young people, Where have you been searching for insurance?
Rule number one, Never take the 1st offer,
See how much they would want to buy the car back, It might be silly cheap and you could purchase and sell on for a quick profit
There are a set of bbs alloys in the for sale section:
They are only £250 delivered with decent tyres
I had these fitted:
& here they are on another car:
Look at these:
Ronal turbo's
Borbets
3sdm
ats cups / classics
compomotive
Rota's
They are main "euro" style wheels, You have gone...
http://www.ebay.co.uk/itm/15-mx5-ford-cosworth-alloy-wheels-dare-3sdm-silver-et15-4x100-108-/260912572878?pt=UK_CarParts_Acc_Wheels_tyres_Rims_Car_Wheels_ET&hash=item3cbf99e9ce
These wheels are so much win!