5 Of The Cheapest V8 Engine Powered Vehicles You Can Buy In 2024
Are you looking for a 2024 car with a powerful V8 engine that doesn't hurt your wallet? If so, you may not be able to hold your expectations too high. With V8 engines becoming rarer and this year only in its first quarter, there aren't many to choose from. Also, don't expect to get any of these cars for under $30,000 thanks to inflation and climate change policies, the car industry can't perform that kind of miracle right now.
Times are changing. As automakers increasingly pivot to electric and hybrid technologies, the V8-powered vehicles that do make it to market in 2024 offer a unique blend of traditional muscle power and modern refinements. While the list may be short, the options available will likely cater to those seeking that quintessential American driving experience with a touch of contemporary luxury and technology. Will they be cheap, though? It depends on who's asking.
2024 Ford Mustang GT Fastback – $41,960
It's hard to make a list of affordable sports cars without adding a Ford Mustang, and that didn't change this year. Ford has refreshed its previous design in this exciting 7th generation of the Mustang. There are nine trims this year, but since this is a list for V8 engines, we'll skip the EcoBoost's inline-4 and focus our attention on the GT's eight cylinders.
Starting at $41,960, Ford offers a 480-horsepower, 5.0-liter, naturally-aspirated engine that does 415 lb-ft of torque at 4,900 rpm. It's paired with an (optional) six-speed manual transmission. The Mustang GT has other electronic features accessed through its gauge cluster and multimedia screen. For instance, you get Line Lock for easy burnouts, launch control with adjustable RPMs, and the standard QoL features like adaptive cruise control, blind-spot monitoring, and more. If you read our 2024 Ford Mustang GT review, you'll see that these modern techs add to the Mustang experience with a manual.
What's the catch? You'll be missing out on the GT Premium Fastback starting at $46,480. It might have a better value proposition for only $4,520 more. But let's not forget that this list is all about saving money. Another thing is that this generation of Mustang looks like a Camaro. You can't unsee it when you see it — not with those edges and Camaro-like rear and fascia. But it's still one of the year's cheapest and most thrilling V8s.
2024 Chevrolet Camaro LT1 - $40,395
Wherever the Mustang goes, the Camaro follows — or is it the other way around? Not next year, however, the sixth-generation Chevrolet will not continue after 2024. This is the last year a sixth-gen Camaro will roll off the production line, meaning it might be the last chance to snag a model with a V8 for (relatively) cheap.
The 2024 Chevrolet Camaro LT1 (not to be confused with the six-cylinder 1LT) is the cheapest naturally-aspirated 6.2-liter V8 in the sixth-gen Camaro's ultimate year. $40,395 will get you a car that manages 455 hp at 6,000 rpm and 455 lb-ft of torque at 4,400 rpm, paired with a 10-speed automatic or a six-speed manual. Since it's still a sixth-gen car, it doesn't come with all the newer tech and iPad-like screens packed in cars from the same year. The gauge cluster is analog, and that's great for folks who prefer that style.
While this car offers a tempting blend of performance and affordability, potential buyers should be aware of certain drawbacks. Firstly, the car's practicality is limited by its interior space. Both passengers and cargo face a squeeze, with the Camaro offering notably less room than some competitors, making it less suitable for those who plan to use it as a daily driver.
2024 GMC Sierra 1500 SLT – $56,795
If you perused this list looking for the cheapest V8 truck in 2024, look no further. You have stumbled upon your answer. It's the 2024 GMC Sierra 1500 SLT. The SLT stands three trims from the base trim but still offers decent value.
You should know it's a bit confusing to shop for a GMC Sierra 1500 because different trim packages may come in different engine options, drivetrain layouts, and truckbed sizes. To be more specific, the truck that costs $56,795 is the Sierra 1500 Crew Cab Short Box 2-Wheel Drive SLT. It has a naturally aspirated 5.3-liter gas-powered V8 (EcoTec 3) that does 355 hp at 5600 rpm and 383 lb-ft of torque at 4100 rpm. Note that you might still be able to get an SLT with the Duramax engine, and that will cost you a lot more.
Essentially, this will get you a two-wheel drive truck with mediocre performance — but a V8 truck with 13,100 lbs of towing capacity nonetheless. Weirdly enough, the cheaper inline-4 turbocharged engine grants more torque (430 lb-ft at 3000 rpm), and torque is arguably more important in a truck than horsepower. When you compare this fact with its slightly poorer mpg, it doesn't seem like such a bang for your buck in contrast with the inline-4 that could be about $2,000 cheaper.
2024 Dodge Durango R/T (RWD) – $56,865
Among mid-size SUVs, the Durango has shone thanks to its character and power. It might not have the best speed records, but this family utility vehicle is a descendant of rugged truck-based SUVs, and it has held up as a member of its lineage. That's why the base 2024 Durango starts with a 293-horsepower V6, and the Durango R/T introduces an exciting and modestly affordable V8.
Whether a $56,865 MSRP is "cheap," of course, depends on you. But this is the least you'll spend on a 2024 model V8 SUV now. This is especially true considering the 392 V8 AlcHEMI in the Durango SRT will cost you a whopping $80,000.
Don't get too bummed about its SRT counterpart, though; the Durango R/T's 5.7-liter V8 engine outputs 360 hp at 5,150 rpm and 390 lb-ft of torque at 4,250 rpm. It's no HEMI engine, but zero to 60 in 6.2 seconds for a midsize SUV is enough fun for thrill seekers. Plus, the Durango has a good balance of comfort and sports that you'll be grateful for when hauling the family cross country.
2024 Lexus IS500 F Sport Performance – $60,020
Surprise! There's a Japanese car in the lineup. Don't worry, we're just as surprised as you. After all, Asian cars aren't known for big engines — even more so when you consider how each passing minute reduces the spawn rate of V8 engines. However, Lexus gifted us an IS500 with a 5.0-liter V8 that sings marvelously through its exhaust.
The IS500's 472 hp (at 7,100 rpm) and 395 lb-ft of torque (at 4,800 rpm) give it 4.3 seconds of acceleration, placing the compact car at the back bumper of the 100,000-dollar Mercedes-AMG C63 sedan. This, paired with an RWD drivetrain and an automatic transmission with overdrive, is presented at an MSRP of $60,020.
Despite the 2024 Lexus IS500 F Sport Performance's heart-thumping V8 and unique position in a segment moving away from such large engines, it shows its age against fresher rivals. Its driving dynamics, particularly the underwhelming steering and handling, fail to match the athletic prowess suggested by its appearance and power. Additionally, the infotainment system feels outdated, a minor but noticeable drawback in an otherwise compelling package. If you're okay with its soft handling, small size, 17 mpg in the city, and 25 mpg on the highway, then this IS will certainly scratch your V8 itch. Otherwise, you might be better off with one of the other cars on the list.