it's inexpensive, certainly.... cheap, i dunno (but is a beetle cheap either?!)
if you want cheap, get a corsa/nova, cinquecento or an old fiesta, you'll never be wanting for parts, the 900cc fiestas/novas/cinqs will run on fresh air almost (i think the 1991 900cc fiesta got about 60-65mpg at 90kmh?), and the insurance is dirt cheap.
if you want a slightly more pleasing, and still "inexpensive" experience (though hardly luxury OR cheap!) with a body, engine, gearbox and brakes that aren't going to even
start crumbling before the machine's 15th (20th?) birthday in normal use - get the polo

its a nice drive (once you get used to the small mk3 servo, and the total lack of in a mk2), not an air cushion but comfy enough, fully-manual but still easily handled controls, fairly quick and safe, reasonable economy... and built like a brick outhouse.
im wondering whether its merely the small amount of prestige carried through from the higher selling costs from new that account for the car's groups 4 thru 8 (for CL and GT) insurance, compared to groups 1 thru 5 for similarly powerful nova/festa/cinqs.... after all, now that the base values are pretty much all the same as each other, which ones are more likely nowadays to be owned by barries that cant drive worth toffee?