I have some old touring cars, an HPI RS4 (the old one with a rear gearbox) and a Tamiya TA02-FF (FWD). I tried the drifting thing with some home meade tires and it was fun for a while, but I got bored.
Back before I was even a teenager I was into the stadium trucks. I raced a Traxxas Hawk in stock class and actually won against a bunch of Losi and Associated trucks with much better equip. I had an off-brand motor, Dynamite and Duramax batteries, no peak charger, a semi-offbrand truck(with bushings, not bearings!), and a basic Futaba radio. Then I stepped up to a Traxxas LS-2, but lost interest in racing.
I also used to have a Traxxas Nitro Hawk, but That was back before nitro was widely accepted. There were no tracks around here that would allow gas R/C. I got rid of it because of the relatively high maintenance. I still have all of the R/C cars except the nitro.
BTW-like any hobby, R/C cars are definitely NOT cheap.