Need opinions.

I was planning on grabbing my first car for up to $10,000 (as I suck at driving and figured a cheaper car + bomb insurance would be handy) and then I saw a '94 Dodge Viper RT10 (red, black leather with red stitch interior, covertible, manual) for roughly $120,000 AU. Now I *could* buy the Viper, but it'd pretty much eat all my savings and I'd want decent insurance which'd likely cost an arm and a leg on top of that.

I could take out a loan instead of paying cash, but I'm not really a fan of loans, particularly when the interest is so high as it usually is these days. Should I grab the awesome car going broke for a while, or just grab a cheaper car and bomb insurance like I was planning on doing which'd mean my high interest bank account would still be going strong?