Bigger and heavier than the R32, Nissan's 1,601kg R33 GT-R packed a nominal 280hp (in practice it was over 300hp) and 289lb ft of torque - enough to see off 60mph in five seconds and provide even quicker in-gear acceleration than the R32. Once again a five-speed manual transmission was employed with the car's ATTESA-ETS four-wheel drive and HICAS four-wheel steering system further revised, which enables the GT-R to correct itself when the tail creeps out. At first this can feel a bit disconcerting - especially on tight turns - and some owners choose to disable it, without affecting the four-wheel drive system.
R33 received well in the UK...
The more expensive V-Spec added 17-inch alloys, lowered suspension and claimed revisions to the four-wheel drive system and braking over the standard car. 100 V-Specs were officially imported into the UK by Nissan and sold for around £50,000 each.
Many more JDM examples, in various specs, have since come across the sea - including at least one 400bhp NISMO-tuned 400R. But beware - there are also some normally-aspirated two- and four-wheel drive GT-S Skylines, and single-turbo GTS-25t models out there pretending to be full-blown GT-Rs. R33 production ended in 1998.
From the driver's seat the R33 GT-R feels longer and quite heavy, but that incredible four-wheel-drive system keeps everything under control and the car seems to shrink as the miles go by. Grip, body control and performance are all seriously impressive. Your R33 should possess a huge wad of receipts and supporting documentation covering servicing and any modifications. Minor services arrive every 6,000 miles with major ones every 12,000 miles. Rust can affect the rear wheel arches, the boot lid, inner wings and underbody brackets, whilst all official UK cars came with mph speedos, oil coolers (which are recommended on any GT-R) and a Cobra alarm system.
Watch out for knocking from the engine, excess turbo noise when turning the engine off, worn clutches, grinding from the gearbox, worn rack and track-rod ends and leaking steering racks. Brakes take a real hammering so check the pads and discs carefully and any repairs to the four-wheel steering system are expensive.
Did it really go under eight minutes at the 'ring?
Most R33s you'll come across will already be tuned to some degree; simple breathing mods and a new ECU can yield around 430hp. Bigger injectors, an uprated fuel pump, a larger intercooler and a hard pipe kit should easily deliver 460hp, but any more power than this will require internal modifications.
According to Jonathan Brown, Car Editor at Glass's: "R33 models currently make between £12,000 and £23,000 for a sound car, whilst stock unmolested examples can make top end money." Decent value then, and we reckon it's the best GT-R to buy right now: "The R33 is good value, great on track and easily modified," confirms Andy Middlehurst. Sitting between the rapidly-appreciating R32 and costly R34, values will start to rise sharply before 2020 - when it can be imported to the US - leaving you the opportunity to have some fun tuning and racing now before preserving the car in a few years' time. And although it's heavier than the R32, the R33 is wider and easier to drive fast.
Buy if: you fancy tuning your GT-R into a street or track day special
Don't buy if: you're expected a quick return on your investment
We found: 1995 Grey R33 GT-R, service history, 83K miles, £16,995
Price Guide
Poor: Under £14,000
Good: £14,000 to £25,000
A1: £25,000+
Special Editions: Rare NISMO 400R models can fetch more than £50,000