The cheapest option is welded flows, for sure, but the question is, how much cheaper. You are gonna drop what $120 on the mufflers and then pay for installation. That is, unless you can do it yourself. A nice catback is only about $150 more plus you can pull it off whenever you want and sell it when you get rid of the car and it will never rust.
The extra $150 is well worth it in my opinion as it is money right back in your pocket when you have to sell it.
As far as hp gains, you don't gain much with mufflers or a catback. You might get a few ponies with the mufflers or a few more with the LM-1, but that is about it on an n/a car. Also, don't forget that you get nice tips with a catback. It may seem silly, but they look a lot better then stock. If you get the welded-in flows, odds are you will eventually buy tips anyway and so much for saving money.
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