For bashing and possible racing...

the Duratrax Evader (2wd Nitro) isnt a bad start,
the Traxxas Nitro Rustler is another car worth looking at in that same class

those are some good fun cars that won't break your wallet....
...now for some more expensive ones!
(ps, most truggies fall under this category - especially RTRs)

HPI Hellfire (1/8 Nitro Truggy) is a car with some good reviews....
so is the Robotronic Mantis (1/8 Nitro Truggy)

The Buggies:

Nitro Evader bx (2wd) - good aftermarket options and stress-tech garantee
Tamya Nitro Force (4wd) - has good guality parts but customer service isn't that great (trust me)
Robotronic Protos (1/8 4wd) - relatively cheap ($289) and uses plastic components instead of alluminum but got good ratings from RCCA

There is a realy short list that barely scratches the barrel... those are mostly the cheaper bashing models which I can actually afford.
If you realy want to make a good choice, look up a car on Tower Hobbies and then ask about it on the forums - people will help you!
Good Luck[8D]!