Excellent, good responses. Yeah I have yet to drive one and $20,000cad max is just a number that I myself feel is within my limits of affordability. What the bank gives me may be a totally different number so I will be going this week before I set my hopes too high. Worst case scenario is I wait a couple more months and save a bit more.
I did consider an e36 M3 but car prices here are just so outrageous, especially for cars like the M3, Supra, S2000, or any convertible sports cars. It's amazing how much cheaper cars are on Ebay from the US but I'm not sure I want to go through all the drama with importing a car.
Next on my agenda will be going to the bank and then doing some test driving to see what suites me. It's funny how most people I know don't think of a car as more than just transportation but it's just like anything else some people consider it an interest or a hobby just like knitting or baseball.