If you were to want to join the 200 MPH club at Bonneville, what would you think was the cheapest option? I am not talking about a heavily modded civic or anything, but a good stable and safe car to get you to 200 MPH? No rentals.

I posted this in L4P, and this was the cheapest option thought of:
Used W211 E55 (~$27,000) top speed is about 198MPH (with limiter removed). + $1,600 for a chip to get the extra 2MPH.

 

Not sure what your buget is but you cannot go wrong with a 2001-2004 Corvette Zo6. Easy to maintain/fix, easy to tune, has ability to take on massive amounts of power. You can pick one up in the mid 20's. If you can spend a little more, look into a C6 ZO6 (low milegae 2006-07 models are getting cheaper).

Also, great deals out there on 2003-2006 Vipers. I feel that the ZO6s are more reliable though...and they make for a much better daily driver.

 

This is theoretical, so no real budget, but I am curious as to how cheaply it can be done.

 

like paul said, cheapest and easiest would likely be a c5 corvette, they can be easily had for under $20k. couple bolt ons and nitrous and you'll be pushing 200mph... altogether still under $20k if you tried