and after complimenting him at the next intersection he said it was for sale. Older guy, car looked well cared for, dark green, beige interior, 120k miles, asking $8.5k
They seem to be around especially given the economy right now.
It sounds like you have a good head on your shoulders and should do fine as long as you thoroughly research. You may even consider finding a modded car that suits your power goals. Because modded cars sell at a huge loss, they can represent a huge value to the right buyer.