I've recently decided to read some classics myself, and decided to jump in with both feet and start with
Don Quixote. I'm about halfway through and am loving it. There's a well-regarded modern english translation currently available for $2.99:
Kobo
Amazon
Barnes & Noble
I'm reading a different translation, but might be reading that one if it'd been $2.99 at the time.
Good luck with the classics! I'm thinking
Anna Karenina next for myself.