It has a tubular steel spaceframe, longitudinal front-mounted four-cylinder engine, and live axle. It is unbelievably simple and small. With modern running gear, the Caterham is the perfect balance between a classic sportscar and modern technology and reliability. But, a Caterham costs a lot of money, so I own a Toyota Corolla GT-S (Hey, it's got the right specs: 1600cc, front-engine, four-cylinder, live axle, RWD, and in addition, the Toyota is actually somewhat practical!) My car gets used for entertaining street use as an everyday car, with the occasional autocross, rallycross, TSD rally, and some track days. I also love to drive it rally-style on gravel roads. Since proper race/sportscars don't have all that unneccesary stuff, and hence should weigh 1500 pounds or less, I will eventually build a Lotus Seven-esque kit car with a Toyota drivetrain.