$120,000 is an odd limit for me, since the cars I want are all either way above or way below. New cars that I currently want that are sold in the US include the Abarth 500, Alfa 4C, Challenger Scat Pack, BRZ, STI, and Morgan 3 Wheeler. If I had to choose one, I'd lean towards the 4C, but only because I suppose I need a motorcycle license for the Morgan.
Used cars, the list is even longer and more diverse: anything from Mk2 GTIs to '66 Mustangs to Alfa 1750 GTVs... Basically, fun cars built from the 60's onwards.
From Fantasy Land of imports, I'd import an Audi RS6 Avant. I really wish they sold the fast wagons here.