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Top 9 Best 500 Hp Cars Under $20k You Can Buy In 2023 – Fastest Cars

500 hp cars under $20k

If you want to own a powerful ride with a restricted budget, consider going for 500 hp cars under $20k. That’s right. You can now own a robust ride that can offer up to 500 hp, and you only need just $20,000.

Any vehicle that can give so much power output is no less than a supercar. You can never find the latest model with such power under a mere $20k.

But there are several older models that you can own for such a low price. Do not believe people saying you must spend handsomely to get a great used automobile.

You can find a great ride at great prices. All it requires is your dedication and not quitting attitude. So, for all of you looking for cheap cars with 500 hp that will allow you to taste unbeatable power, we bring this buyer’s guide.

This article will explore the top nine affordable cars that roar power, crucial buying tips, and some frequently asked questions.

Best Cheap Cars With 500 Horsepower – High-Performance Cars

Automobiles are a necessity but not everyone likes to spend on them generously. Not everyone can afford a Ferrari or Porsche, but everyone can own something they like under their restrictions.

So, if your car buying budget is as low as $20k, we have a list of cars with 500hp output sure to make you smile.

  1. 2007 Chevrolet Corvette Z06 
  2. 2009 Mercedes-Benz E63 AMG
  3. 2012 Ford Mustang GT Premium
  4. 2008 Mercedes S600
  5. 2007 BMW M6 
  6. 2008 Audi RS 6 
  7. 2010 Land Rover Range Rover Sport Supercharged
  8. 2006 Mercedes-Benz S65 AMG
  9. 2010 BMW M5

Discover The 9 Best 500 Hp Cars Under $20k You Can Buy In 2023 – Go Fast & Affordable

Now that we have discussed what types of cars can be available under the price tag of $20,000 and how you can find the right ride, it is time to move forward. Simply knowing how to select the right vehicle is not enough. First, you need to know how to find one.

There are several 500 hp cars under $30k & $20k, but the task is to find the one from many. To save you all the hassle & hard work, our experts have prepared a list for you.

Here we have reviewed all the prominent models offering strong power output you can have under your limited budget. Go through each ride to find the most suitable for your requirements.

1. 2007 Chevrolet Corvette Z06 

What is the best car for under 20000
  • MSRP: $17,465
  • Engine: 7.0 L V8
  • Horsepower: 505 hp
  • MPG: 16 City/26 Highway 
  • Acceleration (0-60 mph): 3.5 seconds
  • Top Speed: 198 mph

The first model on our list of cheapest 500 hp cars in 2023 is the Chevrolet Corvette Z06 of the model year 2007. This high-end sports car used variant can be yours for around $17,465.

It has a robust 7-liter V-8 engine paired with a six-speed manual transmission, producing 505 horsepower.

The model features sound insulation, bigger brakes with cross-grilled brake rotors, two-tone leather seating, and an enlarged glovebox.

This two-door car can seat two people and offers impressive speed. It can go as fast as 198 mph and accelerate to 60 mph in only 3.5 seconds. The interior is spacious for two adults, and the 22.4 cubic feet cargo hold is impressive for the class.

The 2007 Corvette Z06 disappoints when it comes to cabin material which is mostly hard plastic and makes it look like the basic Corvette. Besides this, the versatile driving dynamics & everyday driving comfort make it a steal under $20k.


  • Impressive handling dynamics
  • Powered by a strong V8 engine
  • Impressive speed
  • The cargo hold is great for the class


  • Limited cabin storage
  • The Subpar interior material quality

2. 2009 Mercedes-Benz E63 AMG

Cheap cars with 500 hp
  • MSRP: $16,463
  • Engine: 6.3 L V8
  • Horsepower: 507 hp
  • MPG: Up to 13 city / 20 highway
  • Acceleration (0-60 mph): 4.2 seconds
  • Top Speed: 186 mph

What is better than the German automaker Mercedes if you wish to own a powerful luxury ride? This 2009 E-Class midsize car will sweep you off your feet with its luxurious cabin and balanced driving performance.

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There are heated front seats, comfortable interior space, and good safety scores. This five-seater ride is powered by a 6.3 L V8 engine paired with either RWD or AWD and a 7-speed automatic transmission, channeling 507 hp.

This luxury car is fuel-efficient and has sophisticated safety features worth every penny.


  • Comfortable & elegant interior
  • Powerful engine
  • Fuel efficient
  • Good safety scores


  • Not as athletic as its many rivals

3. 2012 Ford Mustang GT Premium

500 hp cars under $30k
  • MSRP: $17,499
  • Engine: 5.0 L V8
  • Horsepower: 412 hp
  • MPG: Up to 18 city / 25 highway
  • Acceleration (0-60 mph): 4.4 to 4.7 seconds
  • Top Speed: 159 mph

2012 Ford Mustang is another great ride among the 400-hp cars under $20k. This American-built four-seater automobile is powered by a powerful V8 engine paired with a six-speed manual transmission, producing about 412 hp.

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This power offers this ride a top speed of 159 mph and acceleration to 60 mph in less than five seconds. Athletic handling is bound to improve your driving experience more than other rides you have owned.

The selectable steering system, nimble handling, and big trunk space (in the class) make this a good car to buy as a second-hand variant.


  • Robust engine
  • Agile handling
  • Good fuel efficiency
  • Selectable steering system- three levels of power assist


  • Cramped-up rear seats
  • The interior quality of the base trim is questionable

4. 2008 Mercedes S600

400 hp cars under 20k
  • Average Price: $6,588 – $12,383
  • Engine: 5.5 L V12
  • Horsepower: 510 hp
  • MPG: 11 City / 17 Highway
  • Acceleration (0-60 mph): 6.1 seconds
  • Top Speed: 155 mph

Another luxury car that falls in the category of 500 hp cars under $30k is the 2008 Mercedes S600. This ride boasts high-end luxury, poised handling, acceleration like a sports car, and robust engines.

This S-class ride offers some of the most powerful engines available for any sedan. And the agile handling only makes it better.

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All the seats are built around 11 separate air chambers that people can inflate to different degrees to fit the seat as per their preference.

The 510 horsepower output via a V12 engine will let you enjoy the thrill of speed you seek. The only drawback the model holds is that its COMAND driver interface is tricky to handle, and the new model is costlier than other vehicles in its class.


  • Impressive handling
  • Extraordinary acceleration
  • Robust engine
  • Unsurpassed luxurious interior


  • The driver interface is hard to use

5. 2007 BMW M6 

500 hp cars under $20k
  • Average Price: $10,856 – $16,014
  • Engine: 5.0 L V10
  • Horsepower: 500 hp
  • MPG: Up to 12 city / 19 highway
  • Acceleration (0-60 mph): 4.5 to 4.9 seconds
  • Top Speed: 155 mph

You can buy the used 2007 BMW M6 for an average price range of $10,856 to $16,014. This luxury car is powered by the proficient V10 engine paired with either 7-speed automatic or 6-speed manual transmission, producing an astonishing 500 hp.

2007 M6 is available in coupe & convertible body styles, each offering 12 mpg in the city and 19 mpg on the highway. In this BMW ride, you will get soft-close doors, real-time traffic updates for the navigation system, and a tire-pressure monitoring system.

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The 2007 BMW M6 can easily out-accelerate some of the world’s best sports cars with its top speed of 155 mph. It is one of the most comfortable & exotic rides for daily drivers.


  • Exotic performance
  • Potent V10 engine
  • Versatile suspension
  • Elegant interior
  • Comfortable seating
  • Spacious cargo hold


  • The iDrive system is distracting
  • The SMG transmission gives inconsistent responses in the automatic model

6. 2008 Audi RS 6 

What is the best car for under 20000
  • Average Price: $9,995 – $17,995
  • Engine: 5.0 L Audi V10 Odd firing V10 TFSI DOHC (BUH)
  • Horsepower: 500 hp
  • MPG: Up to 14 city / 19 highway
  • Acceleration (0-60 mph): 3.9 seconds
  • Top Speed: 155.3 mph

The 2008 Audi RS 6 is the third generation of the lineup, and it is the first version offering a powerful engine output of 500 hp.

This ride is powered by a 5.0 L Audi twin-turbo V10 engine paired with a Tiptronic six-speed gearbox that channels the power to all four wheels. During its launch in 2008, RS6 was the fastest four-door sedan in the world.

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This luxury car exterior has a front bumper featuring larger air-intakes, a taller grille, silver rearview caps, oval exhausts, and standard 19″ alloy wheels.

The interior comprises the finest construction materials (carbon fiber, aluminum, leather, etc.), sport-bucket seats that are highly bolstered, a flat bottom steering wheel, & more.


  • Smooth powertrain
  • Well equipped interior
  • Comfortable & luxurious cabin


  • The ride quality can be stiff for some people

7. 2010 Land Rover Range Rover Sport Supercharged

Cheap cars with 500 hp
  • Average Price: $12,873 – $14,574
  • Engine: 5.0 L V8
  • Horsepower: 510 hp
  • MPG: 12 City / 17 Highway
  • Acceleration (0-60 mph): 5.6 seconds
  • Top Speed: 140 mph

There are rare 500 hp cars under 5k, at least in the American automotive market. So, if someone is telling you otherwise, be aware. $10k is the minimum you will have to pay for a used high-end ride offering more than 400 hp.

2010 Land Rover Range Rover Sport Supercharged is an excellent SUV that can seat five people, and you can buy it for the lowest price of $12,873 for its used variant.

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This ride offers impressive off-road & good on-road capabilities. The interior is luxurious and comfortable, but the fuel efficiency is terrible. 5.0 L V8 engine is mated with 6-speed automatic transmission and four-wheel drive to produce gasping 510 hp.


  • Power output
  • Impressive interior quality
  • Excellent on & off-road capabilities


  • Poor fuel economy

8. 2006 Mercedes-Benz S65 AMG

500 hp cars under $30k
  • Average Price: $3,890 – $6,144
  • Engine: 6.0 L V12
  • Horsepower: 604 hp
  • MPG: 13 City / 20 Highway
  • Acceleration (0-60 mph): 4.2 seconds
  • Top Speed: 155 mph

The 2006 Mercedes-Benz S65 AMG is a luxury car powered by a robust 6-liter V12 engine paired with a five-speed automatic transmission producing a remarkable 604 hp.

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This four-door ride boasts a spacious cabin with many safety features, keyless entry, electronic trunk closer, heated steering wheel, and rear side window blinds. This ride can sprint from zero to 60 mph in about 4.2 seconds and attain a top speed of 155 miles per hour.


  • Elegant & spacious interior
  • Plenty safety features
  • Feels nimble for its size


  • Not as athletic as some of its rivals
  • The COMAND system is complicated

9. 2010 BMW M5

cars with 500hp
  • Average Price: $13,992 – $19,881
  • Engine: 5.0 L V10 
  • Horsepower: 500 hp
  • MPG: 11 City / 17 Highway
  • Acceleration (0-60 mph): 4.5 to 4.6 seconds
  • Top Speed: 155 mph

Another luxury sedan that comes under your budget in 2023 is the BMW M5 for the model year 2010. This ride has a powerful V10 engine under its hood, producing 500 hp with ease.

The delivered speed & thrill are amazing, but unfortunately, the steering comfort and transmission choices are not up to the typical BMW M-lineup standards.

2010 M5 interior is spacious & elegant and comes with sublime front seats. The iDrive system makes the handling & driving experience much smoother.

The fuel economy is okay. Also, you can accelerate from zero to 60 mph in less than 4.6 seconds and attain a top speed of 155 mph.

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  • Impressive V10 engine
  • Handling limits are high
  • Supple ride
  • Comfortable seating


  • The manual transmission is overwhelming
  • Lackluster steering feel

Things To Consider When Buying Cheapest 500 Hp cars Under $30k

The foremost thing that a restricted budget buyer for a 500 hp car should know is that you can only get used models. There is no chance that one can find a 500 hp output ride for such a cheap price in current expensive times.

So, understand that because a used car is your ideal purchase, you must be extra careful with the process. You need to understand that for a ride to have such a low selling price, there must be some reason.

It is hard to get high-end features like reliability, fast speed, high-end features, and cheap price simultaneously. Thus, as a buyer, you need to be open to the fact that reliability might lag behind in search of fast & cheap.

But to ensure that you get a ride worth your time & money and find the best from the available options, we have a list of some factors you must consider before finalizing a purchase.

– Age & Mileage

The first thing to consider is the age and mileage of the car. Do not go for a ride older than 10 years or driven more than 100,000 miles. This is the period after which it becomes necessary to replace parts like factory suspension & more.

Any car way older than this limit is good for nothing. It must have been driven to its peak, and you might have difficulty keeping it. Thus, go for models still closer to the current model year.

– Maintenance

Ask for the maintenance record from the buyer.  The maintenance record will tell you what wrong has happened with the ride in the past and how well it can hold up in the long run.

Also, you will know whether you can handle a ride’s maintenance expenses. Avoid going for a ride that comes at a cheap price but is expensive to maintain.

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Used cars already need extra care. And if you go for something costly to keep, your whole process for finding 500 hp cars under $20k will be a waste.

– Condition

Examine the current condition of the ride. A vehicle might seem all good from the outside, but you can never be sure if the insides are like that.

So, have a professional, someone you can trust, inspect the ride. Ensure fully if the vehicle is in good condition or not. Poor internal condition is a big no.

– Performance

It is completely okay to go for tuner cars, but you need to make sure they offer the performance they claim. So, cars with 500 hp under $20k should offer you that power output when you ride it.

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Ask for the test drive from the seller. This way, you can analyze the vehicle’s performance. A vehicle that does not offer the stated performance and does not feel right to drive should be off your consideration list ASAP.

What is the best car for under 20000?

If you wish to own a good ride that is powerful but can not afford the brand new models, then you can go for the used cars.

The used cars market is quite high in the USA. People who want a ride for a small period, teenage kids, or a strict budget prefer used rides.

Buying used cars is not as easy as buying a brand-new one. You need to research, explore different dealers, ask around, and inspect the ride before buying it.

To help you out, we have found nine top used cars you can buy as cheap as $20,000 in 2023. Check out the names below:

  • 2007 Chevrolet Corvette Z06
  • 2009 Mercedes-Benz E63 AMG
  • 2012 Ford Mustang GT Premium
  • 2008 Mercedes S600
  • 2007 BMW M6
  • 2008 Audi RS 6
  • 2010 Land Rover Range Rover Sport Supercharged
  • 2006 Mercedes-Benz S65 AMG
  • 2010 BMW M5
What is the fastest car I can buy for under $30k?

If you crave speed but can not afford high-end rides like Ferrari, Lamborghini, & more, then do not get disappointed.

Now you do not need to spend thousands of dollars on a brand-new ride to taste the thrill of high speed.

You can enjoy everything a high-end latest speedy model offers by exploring some used cars with impressive top speed and only under $30k and $20k.

We have handpicked some vehicles that offer impressive speed under a restricted budget to get you started.

  • 2016 Mazda MX-5 Miata (Top Speed- 155 mph)
  • 2006 BMW M3 E46 (Top Speed- 155 mph)
  • 2004 Pontiac GTO (Top Speed- 160 mph)
  • 2014 Chevrolet Camaro SS (Top Speed- 155 mph)
  • 2016 Dodge Charger (Top Speed- 155 mph)
  • 2017 Volkswagen Golf GTI (Top Speed- 130 mph)
What are the other 500 hp cars under 20k I can buy in 2023?

Besides the automobiles discussed in this article, you can buy the used 2009 Mercedes-Benz E63 AMG in your restricted budget for under $7,000.

This luxury midsize car has a 6.3 liter V8 engine paired with either RWD or AWD and a 7-speed automatic transmission producing 507 hp.

The luxurious cabin, balanced ride performance, comfortable seating, and good safety rating make this ride a steal.

Lastly, the 2009 E63 can seat five people.

Key Specifications

  • Average Price: $4,587 – $6,814
  • Engine: 6.3 L V8
  • Horsepower: 507 hp
  • MPG: Up to 13 city / 20 highway
  • Acceleration (0-60 mph): 4.2 seconds
  • Top Speed: 186 mph


  • Elegant & comfortable interior
  • Well-rounded performance
  • Pleasant ride quality
  • Fuel efficient


  • The infotainment system is hard to access
Is a title necessary to buy a used car?

YES. If you wish to own a car, whether a used or brand new one, you need to own its title, formally referred to as “car title.”

The car title is what shows your ownership of the ride. So, when buying a used car, always ask for its title.

Suppose the seller is unable to provide you one. In that case, the seller and the ride are not authentic, and you should walk away immediately.

Also, simply having the title from the previous owner is not enough. You have to transfer the title in your name to officially own it.

Thus, remember, the car title is as necessary as any other ride feature.

Never buy a used vehicle without it.

What are the fastest cars under $20,000 in 2023?

The new model year of 2023 is something that has vehicles for everyone.

If you can not splurge on buying a vehicle but still wish to own the latest model, 2023 has some cars for you that cost as low as $20k.

Speed is among the most common factors many new buyers base their car purchase on.

So, if you are among such buyers looking for a fast ride but on a limited budget, we have some names for you to consider.

But before you begin exploring, please understand that the vehicles that cost so cheap will not be able to compete with the specifications of the rides costing thousands of dollars.

  • 2023 Ford Maverick XL (MSRP: $21,195 | Top Speed: 110 mph | Acceleration: 7.8 seconds)
  • 2023 Hyundai Elantra SE (MSRP: $19,950 | Top Speed: 124 mph | Acceleration: 8.4 seconds)
  • 2022 Kia Forte (MSRP: $19,590 | Top Speed: 123 mph | Acceleration: 8.5 seconds)
  • 2022 Hyundai Accent (MSRP: $19,600 | Top Speed: 120 mph | Acceleration: 8.5 seconds)
  • 2023 Kia Rio (MSRP: $17,090 | Top Speed: 112 mph | Acceleration: 8.7 seconds)
  • 2022 Kia Soul (MSRP: $19,290 | Top Speed: 120 mph | Acceleration: 8.9 seconds)
  • 2022 Nissan Sentra S (MSRP: $19,910 | Top Speed: 120 mph | Acceleration: 9.2 seconds)
  • 2022 Nissan Kicks (MSRP: $19,800 | Top Speed: 114 mph | Acceleration: 9.2 seconds)
  • 2023 Subaru Impreza (MSRP: $19,795 | Top Speed: 120 mph | Acceleration: 9.4 seconds)
  • 2023 Hyundai Venue (MSRP: $19,500 | Top Speed: 112 mph | Acceleration: 9.5 seconds)


Buying a new car should not be a headache only because you have a low budget. You can enjoy driving fast and powerful rides by learning the right ways to look for one.

This article covers nine 500-hp cars under $20k that will make any car seeker happy in 2023. Each ride offers top features, good speed, impressive acceleration, and roaring engines.

We hope you find the ride you have been looking for.

Kevin Williams is an automotive enthusiast and expert writer with a passion for all things related to cars. With a wealth of knowledge in the world of vehicles, Kevin's mission is to provide informative articles that empower car enthusiasts to make informed decisions about their automotive interests. With extensive experience, Kevin has contributed numerous articles to Cars Cache, covering a wide spectrum of topics from vehicle reviews to maintenance tips and more.


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