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The Chevrolet Corvette has been beloved for generations — and the iconic sports car is still going strong. Though more affordable than pricey supercars, a new Corvette is still too expensive for most shoppers. With that in mind, here are three cheaper 2023 Chevy Corvette alternatives for only $28,000.

What are more affordable alternatives to the 2023 Chevy Corvette?

An orange 2023 Chevrolet Corvette Stingray Coupe. What are sports car alternatives for $28K?
C8 Corvette Stingray Z51 | General Motors

The 2023 Chevrolet Corvette Stingray starts at $64,500, while the high-performance Z06 starts at $105,300. That’s not financially feasible for car shoppers on a tight budget. Also, with high demand, dealer markups can raise the price even higher.

Here are three cheaper 2023 Chevy Corvette alternatives for only $28,000:

  • 2023 Toyota GR86: $28,400
  • 2023 Mazda MX-5 Miata: $28,050
  • 2023 Ford Mustang: $27,770

The 2023 Toyota GR86 is a much cheaper sports car than the 2023 Corvette

The first sports car on our list of more affordable 2023 Chevy Corvette alternatives for $28,000 is the 2023 Toyota GR86. Toyota is best known for its sedans, SUVs, and trucks. However, the GR86 proves the automaker is also good at building sports cars

And with a starting MSRP of $28,400, the 2023 GR86 is affordable. Though it doesn’t match the Corvette’s performance, it provides driving excitement at a budget-friendly price. The GR86 has a 2.4-liter four-cylinder engine, generating 228 hp and 186 lb-ft of torque and achieving a 0-to-60-mph acceleration time of 6.2 seconds. 

Also, the GR86 has a balanced ride, precise steering, and good “cornering grip,” Car and Driver reviewers report. Additionally, with its hatchback body style, it has more cargo space than most sports cars. 

The 2023 Mazda MX-5 Miata is a fun-to-drive, affordable Corvette alternative

Side view of red 2023 Mazda MX-5 Miata
2023 Mazda MX-5 Miata | Mazda North American Operations

Another cheaper 2023 Chevy Corvette sports car alternative for $28,000 is the 2023 Mazda MX-5 Miata. It starts at $28,050. Like the GR86, the MX-5 Miata won’t blow you away with its performance specs, but it has excellent driving dynamics. It’s downright fun to drive.

Under the hood is a 2.0-liter four-cylinder engine producing only 151 hp and 181 lb-ft of torque. But the car’s lightweight design helps it accelerate from 0 to 60 mph in 5.7 seconds.

In addition, the Miata boasts agile handling, zooming through curves and around corners. Also, the steering is responsive. And though beauty is in the eye of the beholder, this sports car has elegant styling. 

The 2023 Ford Mustang is another American icon

Front angle view of red 2023 Ford Mustang
2023 Ford Mustang | Ford Motor Company

The 2023 Ford Mustang, like the Corvette, is an iconic American sports car. Both debuted over a half-century ago and were billed as affordable sports cars for the masses. However, only the Mustang continues to live up to that promise. With a starting price of $27,700, it’s much cheaper than the Corvette.

Though Ford makes more expensive and powerful variants, including the Mach 1, we’ll focus on the most affordable trim, the base-model EcoBoost. And despite its low price, the Mustang EcoBoost more than holds its own in performance.

It’s named after its turbocharged 2.3-liter four-cylinder EcoBoost engine, which doles out 310 hp and 350 lb-ft of torque. The potent engine enables the sports car to go from 0 to 60 mph in only 5.1 seconds. Also, its independent rear suspension delivers sharp and responsive handling, minimizes body roll, and soaks up road imperfections.

For those who want a cheaper sports car alternative to the 2023 Chevy Corvette, the Toyota GR86, Mazda MX-5 Miata, and Ford Mustang are solid picks. With a starting price of only around $28,000, they provide driving enjoyment without breaking the bank.

Also, honorable mentions go to four more of the cheapest new sports cars. They are the 2023 Chevy Camaro ($26,400), Subaru BRZ ($28,595), Subaru WRX ($30,605), and Dodge Challenger ($31,100).