Had a 1275GT for a while, fun to drive but a chore as a daily. Certainly feel vulnerable driving in it at times amongst modern traffic. Currently have a 89 Golf GTi which is also great fun, and a Nissan Figaro, which is perhaps not a classic but has the looks (some love, some hate).
Type 3 VW fastback are good value and you'd get one in good condition for your budget.
Triumph Spitfire, BMW 840, Merc 420SL would be on my radar next time.
Expect any 'classic' you go for to need work in short and long term, they are labours of love, if you have 7k, spend 5 and save 2 for repairs/tweaks...