The Chevy Corvette is a legendary sports car, and with the eighth-generation C8 model, it has experienced a resurgence in popularity over the past few years. However, due to high demand, the wait time to get a new Corvette is very long. Also, many automotive shoppers can’t afford it. However, there are some cheaper choices for sports cars. Here are four great Chevy Corvette alternatives for less than $40,000.

More affordable sports car alternatives to get instead of a Chevrolet Corvette

The 2023 Chevrolet Corvette Stingray has a starting price of $65,995 MSRP for the Coupe and $73,095 MSRP for the Convertible. Also, for the 2023 Corvette Z06, the cost is even higher, with a starting price of $105,000 for the Coupe and $112,500 for the Convertible.

If you want a more affordable sports car alternative to the Chevy Corvette, then consider these models that cost less than $40,000:

1. 2022 Ford Mustang GT (Starting price: $38,045 MSRP)
2. 2022 Chevy Camaro SS (Starting price: $37,500 MSRP)
3. 2022 Dodge Challenger R/T (Starting price: $38,680 MSRP)
4. 2022 Mazda MX-5 Miata (Starting price: $27,650 MSRP)

Ford Mustang GT is a great sports car alternative to the Chevy Corvette

One of the best sports car alternatives to the Chevy Corvette that costs less than $40,000 is the 2022 Ford Mustang. Like the Corvette, the Mustang is an iconic American sports car and has an important place in automotive history. While there are cheaper variants of the Mustang available, the best one you can get for under $40K is the Mustang GT, which has a starting price of $38,045 MSRP.

The 5.0-liter V-8 engine in the Mustang GT doles out 460 horsepower and 420 lb-ft of torque. This powerplant enables the sports car to go from 0-60 mph in only 4.2 seconds and reach a top speed of 155 mph. Also, the Mustang GT is comfortable and practical enough to be a daily driver — while providing precise steering and excellent handling for an engaging driving experience. 

Chevy Camaro SS is an affordable sports car for under $40,000

For another affordable sports car alternative to the Corvette, one can stay within the Chevrolet brand with the 2022 Chevy Camaro SS, which has a starting price of $37,500 MSRP. Its 6.8-liter V-8 engine churns out 455 horsepower and 455 lb-ft of torque. For acceleration, the Camaro SS has a 0-60 mph time of 3.5 seconds, and its top speed is 165 mph. 

A drawback of the Camaro SS is its poor outward visibility. However, for many drivers, the fun-to-drive nature of the Camaro SS will outweigh this. Also, after more than a half-century of proving its muscle car worth, the Camaro will be discontinued — as GM focuses on electric vehicles. However, you still have time to get a Camaro, for it won’t be killed until 2024.

Dodge Challenger R/T is a cheaper alternative to the Chevy Corvette

The third sports car alternative that’s cheaper than the Chevy Corvette is the 2022 Dodge Challenger R/T, which has a starting price of $38,680 MSRP. Its 5.7-liter Hemi V-8 engine delivers 375 horsepower and 410 lb-ft of torque. The Challenger R/T completes the 0-60 mph sprint in 4.8 seconds and has a top speed of 155 mph. 

However, the Challenger R/T is not as agile as some of its competitors. It makes up for it in other areas, though, including its generous amount of passenger space. Like the Camaro, the Challenger will be discontinued, along with the Charger, with production ending in 2023. It’s an end of an era for gas-guzzling muscle cars, and Dodge plans to release an electric muscle car in 2024.

Mazda MX-5 Miata: One of the cheapest sports cars available

If you’re looking for one of the most budget-friendly alternatives to the Chevy Corvette, a great choice is the 2022 Mazda MX-5 Miata, which has a starting price of $27,650 MSRP. While the 151 horsepower and 181 lb-ft of torque generated from the MX-5 Miata’s 2.0-liter 4-cylinder engine is much less than these other sports cars, its 5.7-second 0-60 mph time and 143 mph top speed are respectable. 

Also, with its responsive steering, nimble handling, and excellent cornering abilities, the MX-5 Miata provides a thoroughly enjoyable driving experience, as detailed by HotCars. Its attractive styling makes the MX-5 Miata a desirable sports car as well. 

Affordable sports car alternatives to the Chevrolet Corvette that cost less than $40,000 include the 2022 Ford Mustang GT, 2022 Chevy Camaro SS, 2022 Dodge Challenger R/T, and 2022 Mazda MX-5 Miata. For budget-minded sports car enthusiasts, these are great models to consider.