Third gen Ford Falcon.
You can buy a pretty nice six cylinder car for that price and swap it to a V8 if you want or add a couple grand and get one already built that way. These change hands in decent driver shape all the time for $3500-$5000. Though not quite as sexy as the earlier versions what the Falconistas won't tell you is these are vastly nicer to drive than the archaic first and second gen models. Buy the best one you can afford though as the aftermarket hasn't made much for these yet.
Where are you located?
Prices on used cars have inflated a bit in the last year or two. However, if you can't find anything on your local CL, I think you aren't looking hard enough. Look for an AMC Rambler. They are always pretty cheap.
In reply to WilD:
I think he was asking for location as to narrow down the search a bit. 
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