Hi there
This shall be excellent on track when done and huge amounts of fun.
I've been to a lot of track days now and the most impressive low cost cars which do surprisingly well are Clio 172/182's stripped out on sticky rubber, the only downfall from a driving aspect if they are FWD which is not as fun as RWD but more forgiving in novice hands.
On BMW side the E36 cars do very well, a 318is is a superb handling car but unfortunately does lack power. On my last trackday I went out in an E36 328i which was completely stripped running coil overs, slicks, think the guy said the weight was down too 1150kg and it was circa 205BHP. The car was incredibly impressive on track and was far quicker than most other cars and his best lap time was only 2s off me in the 911.
Fact is he paid about 2k for the car and about a further 2-3k in making it track ready himself and as long as you get a good base its possible to get a great track car for little money.
My view is if your not very experience then something like a Clio 172 is ideal, they are the quickest of all the hot hatches I've come across on track days, though the Meganes do very well too, Renault do certainly seem to have the edge in hot hatches, particular on track.
If you've got more experience then an E36 and ideally 328i are absolutely superb, they have enough power to have plenty of sideways fun when required and the chassis is simply class leading and so controllable. The only dis-advantage of track prepping an E36 to this extent makes them awful on the road, noisy, clattery and too harsh but just about bearable enough to drive too and from the track.
Or if you've got plenty of cash then just buy an M3 CSL, they are truly menacing on track.
Or get a 911 and slowly work on converting it too CUP spec.
