@rranjith: Decide what you want first; A car for life, or one that you can upgrade to a new model with, in the next few years.
If you might decide to sell later on, the city is a better bet.
If you know for sure that this is the car that you're gonna keep and tinker with for the next 5-6 years, then shut your eyes and go for a Lancer. Innumerable mod options available- it all just depends upon your purse's girth.
BTW, 5L for a 01' Vtec is a total rip off. Max 4-4.2 L. 2003 Vtec's sell for about 5.3-5.5, but very hard to come by.
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