You’ve got 40 gorillas to play with – the financial kind, not the furry kind – and you want a car that will put a hefty smile on your dial. What do you choose?

Shopping south of the $40k barrier excludes most of the tastier hot hatches like Renault’s Megane RS265, the Peugeot 308 GTi 250 and that perennial favourite, the Volkswagen Golf GTI, but there’s still plenty of fast n’ fun choices to select from.

Those choices range from the $21,390 Holden Barina RS to the $40,000 Abarth 595 Competizione, with cars as diverse as the asymmetric Hyundai Veloster Turbo, the oh-so-French Citroen DS3 and the brawny Ford Focus ST in between.

But which are worth your time in a test drive? We’ve done the hard work and sorted out the top five to help expedite your decision-making process.

Subaru WRX – $38,990

Subaru -WRX-front -side

It also channels all of that prodigious output through a permanent all-wheel drive system, which makes it tremendously unique in this company. Thanks to big power and big grip, the Subaru WRX earns top billing in this group.

Volkswagen Polo GTI – $27,490

Volkswagen -Polo _GTi

141kW and 320Nm from a turbo 1.8 is sent to the front wheels through your choice of a six-speed manual or six-speed dual-clutch auto, but it’s the cheaper and more engaging manual that gets our vote. It’s a hell of a car for the asking price.

Mazda MX-5 1.5 – $31,990

Mazda -MX-5-driving -roof -down

True, the 96kW 1.5 litre engine in the base MX-5 has less oomph than a Barina RS, but it’s got sublime, engaging RWD handling that leverages the MX-5’s low weight to compensate.

Besides, if you want more power there’s always the 118kW/200Nm 2.0 litre model – and at $39,550 before on-roads for the top-spec GT grade, it still slides under the $40k mark too.

Toyota 86 GT – $29,990

Toyota -86-front -side

To drive, though, the two are closer than you may think. With drive sent to the rear wheels through a six-speed manual, the base model 86 GT is an oversteer-happy coupe with exceptional chassis balance. That it costs just $29,990 makes it all the more special.

Mini Cooper S – $38,850

Mini -Cooper -S-side

It’s no secretary’s car either. Despite what you may think of Mini’s brand image, the Cooper S has the performance to qualify as a proper hot hatch.