Owning a sports car has always been a dream for many, but the hefty price tag often makes it seem out of reach. However, with a bit of patience and research, you can find sports cars that offer exhilarating performance, stylish looks, and driving excitement—all for under $5,000. 

These affordable options prove that you don’t need to break the bank to enjoy a sporty ride. Whether you’re looking for a daily driver with a bit of flair or a weekend project car to tinker with, there’s a budget-friendly sports car out there for you. 

In this guide, we will explore some of the best options for cheap fast sports cars, including their model years, features, and what makes them special. 

Let’s dive into this exciting world of affordable performance vehicles and help you find the perfect sports car that fits both your budget and your need for speed.

Note: The prices of all the used cars listed here have been confirmed using top automotive websites like Kelley Blue Book (KBB), TrueCar, Carfax, Cars.com, and CarGurus. The specifications and engine power were checked on the Ultimate Spec website. 

1. Mazda MX-5 Miata (1990-1997)

• Price Range: $3,000 – $5,000

The Mazda MX-5 Miata is the quintessential affordable sports car. Renowned for its lightweight chassis, perfect balance, and engaging manual transmission, the Miata delivers a pure driving experience that is hard to beat at any price. 

The first-generation models, known as the NA Miatas, feature pop-up headlights and a classic roadster design that still turns heads today. With a 1.6L or 1.8L four-cylinder engine producing between 116 to 133 horsepower, the Miata is not about straight-line speed but rather about agility and cornering prowess. 

The manual transmission is highly praised for its short throws and precise shifts, making it a joy to drive on twisty roads or a closed course. Despite its age, the Miata is known for its reliability, easy maintenance, and strong enthusiast community, which makes finding parts and advice simple and affordable.

2. Ford Mustang (1994-2004)

• Price Range: $2,500 – $5,000

For those who prefer American muscle, the Ford Mustang is an iconic choice. The fourth-generation Mustang, particularly the models from the mid-1990s to early 2000s, can often be found within this budget. 

Available with a variety of engines, including the 3.8L V6 and the more powerful 4.6L V8, the Mustang offers a range of options for different levels of performance. The V8 models deliver a satisfying rumble and plenty of power, making them a popular choice among muscle car enthusiasts. 

The Mustang’s rear-wheel-drive platform provides a classic sports car feel, while its more modern components compared to earlier models offer improved reliability and comfort. This era of Mustang also benefits from a large aftermarket scene, so customizing or upgrading your ride can be done relatively cheaply.

3. Chevrolet Camaro (1993-2002)

• Price Range: $2,500 – $5,000

Another great option for fans of American performance is the Chevrolet Camaro. The fourth-generation Camaro, especially those from the late 1990s and early 2000s, can often be found within a $5,000 budget. 

These models came with a variety of engine options, including the 3.8L V6 and the more desirable 5.7L LT1 V8. The V8 models, in particular, are known for their strong performance, delivering 275 to 305 horsepower depending on the model year. 

The Camaro’s rear-wheel-drive setup and aggressive styling make it a popular choice for those looking for a sporty appearance and thrilling driving dynamics. Additionally, the Camaro shares many parts with its cousin, the Pontiac Firebird, which can help keep maintenance costs down.

4. Nissan 300ZX (1984-1989)

• Price Range: $3,500 – $5,000

The Nissan 300ZX is a fantastic choice for those looking for a Japanese sports car with a bit of a classic appeal. The second generation, known as the Z31, offers a turbocharged V6 engine that produces up to 200 horsepower, giving it impressive acceleration and a robust top speed. 

It features a sleek, wedge-shaped design that was ahead of its time in the 1980s and still looks distinctive today. The 300ZX also offers a comfortable interior with advanced features for its time, such as digital gauges and optional leather seats. 

While not as light as the Miata, the 300ZX offers a more substantial feel and is better suited for high-speed cruising. Thanks to a strong enthusiast following, parts availability and aftermarket support are solid, ensuring that you can keep this classic running smoothly for years to come.

5. Toyota MR2 (1985-1989)

• Price Range: $3,000 – $5,000

The first-generation Toyota MR2 is a mid-engine, rear-wheel-drive sports car that delivers a unique driving experience. With its lightweight design and responsive handling, the MR2 is a joy to drive on winding roads. 

The 1.6L inline-four engine, particularly in the supercharged version, provides lively performance that belies its modest power output. The MR2’s mid-engine layout gives it an excellent weight distribution, contributing to its agile handling and sharp cornering abilities. 

The compact size of the MR2 also makes it ideal for tight city streets or autocross courses. Despite being over 30 years old, the MR2 has a strong reputation for reliability, and its unique design continues to attract attention and admiration.

6. Pontiac Firebird (1993-2002)

• Price Range: $2,500 – $5,000

The Pontiac Firebird is another great option for those interested in American muscle cars. Sharing many components with the Chevrolet Camaro, the Firebird offers similar performance and styling. The models from the early 1990s to the early 2000s are often available in the sub-$5,000 range. 

The Firebird is available with several engine options, including a V6 for those who want a more economical choice and a V8 for those looking for maximum power. The V8 models can produce up to 305 horsepower, delivering strong acceleration and a throaty exhaust note that muscle car fans will love. 

The Firebird’s distinctive styling, featuring a sleek profile and aggressive front end, helps it stand out on the road. As with the Camaro, a vast aftermarket ensures that performance upgrades and replacement parts are readily available.

7. BMW Z3 (1996-2002)

• Price Range: $4,000 – $5,000

For those who prefer a European flair, the BMW Z3 is a stylish and fun-to-drive option. This compact roadster features a rear-wheel-drive layout and is available with several engine choices, from a modest 1.9L four-cylinder to a more powerful 2.8L inline-six. 

The Z3’s precise steering, balanced chassis, and open-top experience make it a compelling choice for driving enthusiasts. The car’s unique styling, characterized by its long hood and short rear deck, gives it a distinctive and sporty appearance. 

Although some Z3 models might push the upper limits of the $5,000 budget, careful searching can yield well-maintained examples within this price range. The Z3 benefits from BMW’s engineering and build quality, and its components are generally durable, making it a reliable choice for a used sports car.

8. Mazda RX-7 (1986-1991)

• Price Range: $3,500 – $5,000

The second-generation Mazda RX-7, also known as the FC, is a classic sports car that offers a unique driving experience thanks to its rotary engine. The 1.3L rotary engine, particularly in the turbocharged models, delivers a surprising amount of power and a very high-revving nature, making it an exhilarating car to drive. 

The RX-7’s lightweight construction and rear-wheel-drive layout provide excellent handling dynamics, and the car’s distinctive styling sets it apart from other vehicles on the road. While the rotary engine requires more maintenance than a traditional piston engine, enthusiasts often find the unique characteristics and smooth power delivery worth the extra effort. 

The RX-7’s popularity among enthusiasts also means there is strong support for parts and knowledge within the community.

9. Honda Prelude (1992-1996)

• Price Range: $2,500 – $4,500

The Honda Prelude is a front-wheel-drive sports coupe that combines sporty handling with Honda’s reputation for reliability and efficiency. The fourth-generation Prelude, particularly those with the 2.2L VTEC engine, offers a compelling mix of performance and daily usability. 

With up to 190 horsepower, the Prelude provides spirited acceleration and strong high-rev performance, typical of Honda’s VTEC engines. Its well-balanced chassis and precise steering make it a fun car to drive on twisty roads, while it’s comfortable interior and good fuel economy make it a practical choice for daily driving. 

The Prelude’s sleek styling and quality build have helped it maintain a dedicated following over the years, making it a great option for those seeking a dependable and affordable sports car.

10. Mitsubishi Eclipse (1995-1999)

• Price Range: $2,500 – $5,000

The second-generation Mitsubishi Eclipse is a stylish sports coupe that offers a range of performance options, from a mild 2.0L non-turbocharged engine to a turbocharged 2.0L engine producing up to 210 horsepower in the GSX trim. 

The turbocharged models, especially those with all-wheel drive, offer impressive performance and handling for their price range. The Eclipse’s distinctive styling, with its smooth lines and aggressive stance, has made it a favorite among younger car enthusiasts. 

Inside, the Eclipse offers a relatively spacious cabin with comfortable seating for four. While some models may require attention to their turbocharging systems and drivetrain components, the Eclipse’s combination of style, performance, and affordability makes it an attractive option for a cheap sports car.

11. Toyota Celica (1994-1999)

• Price Range: $2,500 – $5,000

The sixth-generation Toyota Celica offers a sleek design and a sporty driving experience, making it a great choice for those looking for an affordable sports car. Available with a range of four-cylinder engines, the Celica provides decent performance while maintaining excellent fuel economy. 

The GT-S model, in particular, comes with a 2.2L engine that delivers a good balance of power and efficiency. The Celica’s front-wheel-drive layout offers predictable handling, while its lightweight construction helps it deliver nimble performance on twisty roads. 

With a reputation for reliability and low maintenance costs, the Celica is a practical choice for those who want a sports car that can also serve as a dependable daily driver.

12. Porsche 944 (1982-1991)

• Price Range: $4,000 – $5,000

The Porsche 944 offers a taste of German engineering and sports car pedigree at an affordable price. Featuring a front-engine, rear-wheel-drive layout, the 944 is known for its excellent balance and handling characteristics. 

The 2.5L inline-four engine delivers smooth power, and the optional turbocharged version offers significantly more performance. The 944’s interior is well-appointed, with a focus on driver comfort and control. 

While some maintenance tasks can be more expensive than those for Japanese or American cars, the 944’s robust build quality means that well-maintained examples can provide a rewarding driving experience for years to come. For those who appreciate classic sports cars and are willing to invest a bit in upkeep, the 944 represents a compelling option.

Conclusion

Finding a cheap sports car under $5,000 is not only possible but also incredibly rewarding. These vehicles offer a blend of performance, style, and driving excitement that belies their modest price tags. 

Whether you prefer the nimbleness of a Mazda Miata, the raw power of a Ford Mustang, or the balanced handling of a Porsche 944, there is a sports car on this list that can provide plenty of thrills without emptying your wallet. 

With a bit of effort and a keen eye, you can find a great sports car that fits your budget and satisfies your craving for excitement on the open road.