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Z4 has much better handling, much better looks, and you can get a nicely equipped one without spending $50K, of course you wont be far off.
The other thing to be concerned about is getting a used car you are inheriting the past owners problems, so unless you are going to get it from someone you trust you may end up paying more out of pocket expenses then you expected, actually making a new car cheaper or at least similarly priced in the long run.
I'd recommend an E46 BMW coupe but looks like you are set on the roadster, so I would say swing it for a z4 or get the s2000.
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Take Luck!
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