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lol GTIs are rarely cheap. I strongly advise you look into the insurance aswell, as its group 12 on the GTI
There are three variants of the 1.4 available - an 8V 60bhp, 16V 75bhp and 16V 100bhp so you may be better to choose one of the 16v options such as the 75bhp if you want a cheaper option.
If I were you I would look into the 1.4 tdi. £30 annual road tax, cheap to run, cheap enough to insure. 75bhp standard (same as the 1.4), but you can get it remapped to 105bhp and she'll go like f**c! and if you go for the SE model you get the electric windows and sunroof, its a proper little bargain of a car. and at the end of the day its a VW diesel, it'll never let you down, reliable as hell.