If you’re looking to purchase an affordable performance car, check out the models from the 2000s. There are plenty of bargains available, and as an added bonus, they can be considered modern classics now.
Whether you’re looking for American muscle, European luxury, or Japanese ingenuity, you can pick and choose on the used car market.
We’ve created a list of some excellent performance cars from this era. While some require deeper pockets than others, they’re all relatively affordable. However, in many cases, prices are already on the rise and will probably skyrocket in the not-too-distant future. All the prices are from reliable sources, such as Cars.com, Hagerty, KBB, etc.
Chevrolet Corvette C5
Built from 1997 to 2004, the C5 Chevrolet Corvette was one of the last volume production cars to use pop up headlights, alongside the Lotus Esprit; if you ask me, that’s the only reason you’ll ever need to buy one. Those who require a bit more convincing should also consider the fact that it has an LS V8 engine, a manual transmission, and rear-wheel drive.
The ‘Vette is an American icon, and it has always been capable of upsetting contemporary supercars. That was also the case with the C5, especially in Z06 guise, with 0 to 60 mph runs typically right around four seconds depending on the year and the test. A base-model C5 ‘Vette can be found for less than $15,000, making it a proper performance car bargain.
Porsche 987 Boxster
Porsche introduced the original 986 Boxster in the ‘90s, and it stuck around until the mid-2000s, so it still counts as a 2000s car. If you want the cheapest possible boxer-engined Porsche, that’s the one to go for.
However, its successor, the 987 Porsche Boxster, is a better car in every way imaginable, so if you have a bit more cash, you’ll definitely want that one. The big dividing line is the 2009 model year 987.2 update, which moved to the 9A1 engine design and eliminated the intermediate shaft and IMS bearing entirely. Don’t believe the evil tongues saying the Boxster is a poor man’s Porsche. It’s a proper mid-engined sports car that handles like a dream, thanks to its near-perfect weight distribution. $15,000 can get you a clean example with high mileage.
S197 Ford Mustang GT
In 2005, Ford jumped on the retro-styling wave of the 2000s when it introduced the stunning fifth-generation S197 Mustang. It rolled off the showroom floor with several styling cues from the 1960s ‘Stang, but packed with modern tech.
Early fifth-gen Mustang GTs were powered by the modular 4.6-liter V8, but it was replaced by the 5.0-liter unit in 2011. That move meant power increased from 300 hp to 412 hp for 2011 to 2012 cars, and then 420 hp for 2013 to 2014 models, but later models do come with a substantial price hike on the used market. Thanks to a massive selection of aftermarket parts, it’s possible to modify the older cars to produce ridiculous amounts of power as well.
E46 BMW M3
Most enthusiasts and car journalists will tell you that the E46 is arguably the best BMW M3 generation for those looking for the purest driving experience. Granted, the E30 is more desirable, but prices for those have skyrocketed, making them unobtainable for all but the wealthiest enthusiasts.
In U.S. spec, the naturally aspirated 3.2-liter inline-six was rated at 333 hp, while many non U.S. specs list 343 PS (about 338 hp). The CSL was higher, but the standard E46 M3 sits in the low to mid 300s and can still reach 60 mph in under five seconds. It has been around for a quarter of a century now, but it has aged well and still looks great today. Prices are currently rising, but according to Cars.com, it’s possible to find a clean example for $20,000.
Nissan 350Z
When Nissan developed the 350Z, it went back to basics and eliminated the fancy tech and turbochargers found in its predecessor, the 300ZX. It proved to be a clever move, as the 350Z is an excellent driver’s car. Simplicity rules, a big, naturally aspirated V6 at the front sends its power to the rear wheels via a manual transmission, what else do you really need?!
Producing around 300 horsepower, the Nissan 350Z is barely in the same league as most 2-door Japanese sports cars from this era. Models such as the RSX, Miata, Celica, and MR-2 Spyder couldn’t touch it. Mazda’s RX-8 was a close match, but that’s one of the least reliable Japanese cars ever, leaving the likes of the Honda S2000.
Honda S2000
As good as the Nissan 350Z is, the Honda S2000 is a better option for those looking for a more visceral driving experience. When the S2000 arrived in 1999, it had a 2.0-liter engine pumping out 240 hp, the highest specific power output of any naturally aspirated engine. Even today, more than a quarter of a century later, those are solid numbers.
Granted, the S2000 isn’t the most comfortable car to drive, and it needs to be revved out in every gear to extract all the horses from the engine. If you want a Japanese convertible that’s friendlier as an everyday driver, get an ND MX-5 Miata instead. Well-kept S2000s also cost a small fortune, so be prepared to open your wallet wide if you want to own this Japanese sports car legend.
E85 BMW Z4 M
The E85 BMW Z4 M was the BMW Z3’s successor, and just like the old Z3, it’s something of a parts-bin special. However, that doesn’t take anything away from the fact that this is an excellent German sports car for the budget-conscious driver.
Lesser models can be considered great alternatives to the Mazda Miata, fun daily drivers with usable power. The Z4 M is a whole different beast. This is a proper performance car with tons of potential. Under the hood, it has the same inline-six engine as the E46 M3, translating to a 0 to 60 mph time of a mere 4.8 seconds.
W204 Mercedes C63 AMG
For those who dream of an RWD sports car but realize they need something more practical, the W204 Mercedes C63 AMG is worth considering. Under the hood, it has a roaring 6.2-liter V8 rated at 451 hp, and period testing generally put 0 to 60 mph in the low four second range depending on conditions.
With great power comes a penchant for eating rear tires and drinking gasoline. Unfortunately, owning a proper Mercedes performance car will never be cheap. While the C63’s hand-built V8 engine is near-bulletproof, it does require a lot of attention and meticulous maintenance to keep it that way. On the plus side, if you find a good one and you’re willing to pay what it costs to keep it running, it’ll last you a lifetime.
Audi S5
To my surprise, it turns out many car enthusiasts forget about the first-gen Audi S5 when looking at performance cars on the used market. I agree that it doesn’t offer the driving dynamics of the contemporary BMW M3 or the lunacy of the Mercedes C63 AMG, but the S5 is special in its own right.
Under the hood, it has a naturally aspirated 4.2-liter V8, pumping out 354 horses and 324 lb-ft of torque. That’s plenty for most people. Since it uses Audi’s Quattro AWD system, the S5 doesn’t have any problems transferring that power to the road, either, resulting in a 0 to 60 mph time of 4.9 seconds. As an added bonus, it’ll even get you where you need to go when the roads are covered in snow.
997 Porsche 911 Carrera
After more than 60 years in continuous production, Porsche has perfected the 911’s rear-mounted boxer engine formula. In fact, some will say they perfected it years ago. To me, the 997 generation of Stuttgart’s finest is the most desirable model, as it brought a more traditional design and a much nicer cabin than the 996. Just keep in mind that early 997.1 cars can still have intermediate shaft related concerns, while the 997.2 update moved to the 9A1 engine that dropped the intermediate shaft and IMS bearing.
At the back, there’s a potent 3.6-liter flat-six engine, and when mated to the 6-speed manual transmission, the 997 is a true driver’s car. While it’s getting old now, it’ll still attract plenty of eyeballs, and since everyone recognizes the Porsche 911, you won’t have to spend time explaining what it is to your non-gearhead friends or curious people at the gas station.
Pontiac GTO
Pontiac’s last GTO was hugely overlooked when it emerged in the mid-2000s. American muscle car enthusiasts didn’t like that it was just a rebadged Holden Monaro from Australia, so they refused to buy it. It’s a shame, because the badge-engineered GTO has proper muscle car credentials.
Early models were powered by the 5.7-liter LS1 V8, but in 2005, the GTO received a 6.0-liter LS2 V8, the same engine that was used in the C6 Corvette. The LS2-powered versions will sprint to 60 mph in just 4.4 seconds, which is still respectable today. Right now, the Pontiac GTO is a bargain performance car that punches far above its price class.
Audi R8
The R8 was Audi’s first supercar. Although some might argue that the German brand was involved in developing Lamborghinis, they didn’t actually sell a supercar with the four-ring logo prior to the R8’s arrival. It was a game-changer for Audi, making them stand out from the competition, such as BMW and Mercedes, who only offered sporty versions of their regular lineup.
Getting behind the wheel of a used R8 is, in most cases, cheaper than a Lambo or Ferrari, while offering similar performance. That’s not all, as the Audi has more tricks up its sleeve; it’s a better daily driver, and there’s no shortage of Audi dealerships that can service and repair it. That last one is important when you spend this kind of money on a car. The Audi R8 was offered with a 4.2-liter V8 and a 5.2-liter V10. Both have their pros and cons, so which one you should buy is pretty much down to personal preference.
Toyota MR2 Spyder
If you dream of a mid-engined sports car but the Audi R8 is out of reach, don’t worry; there are other options available. The MR-2 Spyder is one of the most underrated and affordable mid-engined cars on the market right now. Many enthusiasts have either forgotten about it or ignored it, saying its Corolla-derived engine is underpowered and there’s virtually zero storage space. Fair enough, those things are true, but there’s another way to view the little Spyder.
Think of it as a bargain Lotus Elise with Japanese build quality. Add to that the fact that there’s a vast selection of aftermarket parts available, and you can end up with a truly special sports car without spending a fortune.