Theres plenty I'd rather have for 38k

Ferrari 355
Ferrari 360
Noble M400
DB7 V12
AC Cobra...

The list goes

Ok so may not be that cheap to run but at least you can get insurance
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407BHP and 340lbft
TD GT28/32 hybrid turbo, 3inch decat, 2.75inch exhaust, air intake + large MAF, injectors, fuel pump, tubular manifold