In fact, Chevrolet Corvettes are legendary when it comes to being the most affordable sports cars out there. Also known as the 'Vette', most of us can't get enough of this ride which has been tearing up the streets for over 60 years and 8 generations.

Figure 1: It was a 1973 Chevrolet Corvette 454 that sold at hammer for $44,000. Source: American Car Collector.

Today, we’re diving into a straightforward question: One of the many questions is, out of all the generations and models, which Corvette offers you the most bang for your buck?

A Bit of History

Chevy Corvette debuted in 1953 rolling off the assembly line as a showstopper for GM’s ’53 “Motorama” event. Within months, it became eye catching, sleek, and it quickly turned heads, such that by June of that year, the Corvette was made available to the public. In the first model year, only 300 of the cars were produced, all of them convertibles.

Unlike the V8s that would eventually cement the Corvette’s legacy, the first two Corvette model years were equipped with a 235-cu 'Blue Flame' in-line 6 cylinder engine. Early Corvette owners loved the car until it got the job done and every one sold out. Then, Chevy changed gears and concentrated on the more powerful V8 engines that would come to define a Corvette.

Figure 2: The 'Blue Flame' engine. Source: Wikipedia.

Every Corvette came with a V8 engine by 1955, performing better in power, torque and acceleration, preparing the way for today's performance legend.

The following years were mostly cosmetic updates. In 1956 and 1958, they got a longer front end, quad headlamps, bumperintegrated exhaust tips and a refreshed dashboard. The hood louvers, twin trunk spears, and the Corvette's signature style were amped a bit when the 1958 model arrived.

By 1961, the Corvette got a full makeover —and for its first time, debuted the now-iconic four round headlights.

Figure 3: A 1961 Corvette.

Not sure how close Model 72 production was to ending, but other features were on their way out, too: the wraparound windshield, the solid rear axle, and the convertible body style were all phased out in 1962. Source: Bring a Trailer.

The Corvette’s second generation (C2) was officially launched in 1963; the third generation (C3) came in 1968. The C3 came with another big redesign inside and out, and rode on until 1983, qualifying it as one of the Corvette’s longest running generations. So, which generations provide the greatest bang for your buck? We’ll explain shortly.

Jump ahead a few decades and we’re up to the eighth generation (C8), which debuted in 2020, its distance traveled truly significant.

Figure 4: Since its humble 1955 beginnings, the latest generation Corvette has come a long ways! Source: Using Wikipedia, courtesy of Don DeBold.

There’s no denying that the C8 is a dream machine, but it’s not necessarily a budget piece. At $59,995 to start the 2021 model year, it’s not outrageous, but it’s not a steal.

Sources: From American Car Collector to CarBuzz, and off to The Corvette in Literature and Culture.

What’s the Best Corvettes on a Budget?

If you’re hunting for the best Corvette for your money, remember these three magic numbers: C3, C4, and C5.

They’re fantastic buys today, and even with some years under these generations’ belt, they’re rock solid reliable. Some are even starting to appreciate in value – better yet. You might be making a smart investment because snag one now.

1973 Corvette C3 454

Figure 5: 1973 Corvette 454 with some serious 70’s disco vibes. Source: Bring a Trailer.

1967 started the third generation of Corvettes continuing many of the engine and chassis elements of the C2. Plenty of these classics are still around because it smashed sales records right out of the gate. If you want best bang for your buck, however, the C3 454 is the first choice of this generation. The Stingray nickname was used for Corvettes from 1969 to 1976, and it's one of those sought after 'Stingray' models.

This C3 454 is iconic for the Bold body style and that monster 454 cu big block. It also went away from chrome front bumpers, replacing them with a urethane front piece to meet new regulations. Among other notable upgrades were side impact beams in the doors, and most importantly an air induction hood, and radial tires all of which made this Stingray a combination of power, style and safety for its time.

Figure 5: This funky disco era Corvette 454. Source: Bring a Trailer.

1967 saw the third generation of Corvettes begin and all the engine and chassis components from the C2 were carried over. That's why plenty of these classics are still around today, because it smashed sales records right out of the gate. However, if you’re after the best value for your money, C3 454 is the top choice from this generation. A sought after 'Stingray' model nickname used for 1969 to 1976 Corvettes.

These updates told us all that the Corvette was beginning to move away from being a raw sports car and into a more cruiser oriented car.' However, the V8 454 cu. big block (that’s 7.4L to you and me) still has a punch to it even by today’s standards. Chevy wasn’t shy about showing it off with these original big block C3 Corvettes: big '454' emblems hung proudly on the hood. With buyers able to pick between a 3 speed automatic or a 4 speed manual transmission, and if you really needed to stay right in the lap of luxury, there was an optional air conditioning system. Cool, literally.

A slight hit to its 0–60 time was easily made up for by an abundance of power, exceptional handling, and the sort of reliability associated with the six-pot, all of which came with that sixpots 275 HP net output.

This Corvette is one of those cars with its indisputable disco era style that isn’t for everyone, but that’s what makes it so charming. With its unconventional looks and its overlooked status in Corvette history, the 454 is a pearl less found (and a potential future investment).

The 454 is priced mostly from $16,800 to $24,900. But examples can hit $37,000 if kept in pristine condition. Want to spend less? Instead, opt for the small block version.

Sources: Aston Martin was featured in American Car Collector, Car and Driver, Carfolio.

1990–1995 Corvette C4 ZR-1

Figure 6: On the used Corvette market, the ZR-1 Corvette C4 might be the best bargain. Source: Hagerty.

Debutting in 1984, the C4 was the first full Corvette redesign since 1963, and its gratuitous use of chrome quickly became the aspirin of the muscle car enthusiast. It’s been years of secret testing and prototyping for this fourth generation model and Chevy finally revealed it last month and didn’t it disappoint.

Built in the 1984 C4, it came with a 5.7L 'Crossfire' V8 engine—a nice upgrade from the competition. It cut weight, and increased strength, rigidity, and performance by using aluminum brake calipers in its chassis and an all aluminum suspension. Rounding out the list is the electronic dashboard with LCD displays that are well, retro-cool and still have a bit of a draw these days.

Figure 7: 6 speed manual, with a 330 HP engine in a 1996 C4 Corvette. Source: Courtesy of GrandSport it's Wikipedia.

We spoke with Ron Ignelzi, a specialist at MacMulkin Corvette, which ranks as the second largest Corvette dealer in America, on the C4. "The C4 generation was one of the great performance cars of its time and it's still a fantastic car to buy today," said Ron. 'When it was first released, the C4 gave Ferrari, Lamborghini, and Porsche a run for their money with a 375-HP engine,' he said.

The ZR1 version of the C4, built from 1990 to 1995, is what Ron had a lot to say about. "It’s cheap now. You can get a ZR 1 right now for $20,000 and you’re getting a lot of car for $20,000" he said.

Why is the ZR-1 one of a kind? “It’s a double overhead cam engine, with 16 fuel injectors in it," Ron notes. The why its so cool part is how it shifts—its smooth and docile at lower RPMs but once the secondary port vacuum system goes, its as if you flip a switch. Quarter-mile times of 11.5 seconds (with heads up timing) and high 13s (with spool time thrown in) have occurred at the edges of these turbos, earning people to call it the "Jekyll and Hyde" Corvette because it goes from tame to wild, as if there's a turbocharger under the hood."

The 'ZR-1' is derived from Z (enhanced performance) and it can satisfy delirious demand for the same. The best part? There’s no astronomical price tag to all this cutting edge performance tech. In fact the ZR-1 could very well be the best bang-for-the-buck Corvette on the market.

Sources: A phone interview with Ron Ignelzi of MacMulkin Corvette garage, MotorTrend, (09/14/2020).

2001–04 Corvette C5 Z06

Figure 8: A high performance sports version of the C5 was the Z06 Corvette built as such. Source: Autoevolution.

So let’s talk fifth generation. Yet, of all the C5 Corvettes ever built, none have compared to the Z06 from 2001 through 2004, for reasons that will soon be apparent.

Recent history shows the value of Z06 Corvettes climbing, and you won’t be surprised why. With a fully re–tuned suspension, a 5.7L 385HP and 6 speed manual transmission are standard equipment. The cherry on top? A titanium exhaust system. How often would you see that?

In later versions of the Z06, the ante was upped to 405 HP and 385 lb-ft of torque, allowing a rather impressive change from 0 to 60 in just four seconds. 'The 405-HP C5 Z06 was more tuned to track use and a fine performer,' Ron Ignelzi said. And in some ways it might just outshine the C4 as a deal.

In a word, you can buy a Z06 for right around $22,000, and some are going for less than $20,000. While these cars were marked over $50,000 back when new (in inflation adjusted dollars). On the performance car world, it is a total steal with a raw power, its quick acceleration and sporty design.

Sources: Autoevolution; Hagerty.