Car Advice

10 Best 500HP Cars Under $20000 For Maximum Performance in 2024

Are you dreaming of owning a high-powered car but worried about the price? Well, don’t stress. We’re checking out 500-horsepower cars under $20,000. You read that right; all that power is in your budget.

You may think possessing such a powerful car means spending big money, but that is not always the case. Sure, you’re not going to find a brand-new model that delivers 500 hp for under $20k in 2024, but a plethora of older gems offer incredible performance for a fraction of the cost. From sleek sports cars to muscle machines, we have options to get you grinning from ear to ear without emptying your pocket.

We will discuss each car in-depth, including specs, performance, and overall value for money. Whether you’re a speed maniac or simply someone who loves a good deal, there’s something in it for you. We will help you navigate the market, avoid traps and pitfalls, and make an informed decision so you can hit the road in the high-powered car of your dreams.

Top Highest-Performance 500 HP Cars Under $20K

Get ready to discover some fantastic cars that prove you don’t need a fat wallet to enjoy serious horsepower. Your dream ride is out there and is more affordable than you think. Let’s hit the road and find the perfect 500-hp car for you.

1. Mercedes-AMG C63 S Cabriolet | 503 HP

Mercedes-AMG C63 S Cabriolet

Mercedes-AMG C63 S Cabriolet: sophistication embodied on four wheels. This stylish piece of heaven will keep your pulses high with every start, thanks to its elegant design and pounding heart of performance.

Under the hood, you will find a handcrafted AMG 4.0L V8 biturbo engine at the heart, putting out 503 horsepower for instantaneous acceleration and an adrenaline-pumping experience. But that is not all; drop the roof and let the wind ruffle through your hair when you unleash power from its twin-turbo V-8. This brings along space for four passengers and nice cargo space, hence the combination of performance and practicality.

2. BMW M550i xDrive | 523 HP

BMW M550i xDrive

Ditch the thought of going all out with the BMW M series to reach that 500-horsepower mark. Indeed, the BMW M550i xDrive for 2021 could be the perfect middle ground between a full-bore, tire-shredding track car and everyday comfort. The luxury sedan is more laid-back than the M5, providing a smooth suspension and refined drive train.

But appearances are deceiving because a monster lurks under the hood in the form of a twin-turbo 4.4-liter V-8, which boasts 525 horsepower. And even more, it sprints to 60 mph in a blistering 3.5 seconds, leaving all the rest in its tracks. Plus, you’ll have an AWD system to get you through any road. Take your chance to experience the best mix of performance and luxury in the BMW M550i xDrive.

3. BMW M4 Competition | 503 HP

BMW M4 Competition

If you’re looking for everything the M3 Competition offers but in a sleek two-door coupe package, look no further than the BMW M4 Competition. The 2022 model takes up its platform and potent 503-horsepower drivetrain from the M3 but with the added allure of a coupe silhouette. While you’ll sacrifice some of that rear passenger space for sporty aesthetics, don’t worry; the price difference is just under a $2,500 upcharge. Note, however, that the M4 Competition is only offered with an automatic transmission, so manual enthusiasts might have to adjust. Prepare for the ultimate combination of performance and style in the BMW M4 Competition.

4. Chevrolet Corvette Z06 |  505 HP

Chevrolet Corvette Z06

The iconic 2007 Chevrolet Corvette Z06 is the first 500-hp car on a budget that we will consider. This sports car gem can be yours for around $17,465, giving you the most bang for your buck.

A large, powerful 7-liter V-8 engine is paired with a six-speed manual transmission that puts out an astonishing 505 horsepower. The 2007 Corvette Z06 has plenty to offer for an older model: a top speed of 198 mph, which can get from 0-60 mph in 3.5 seconds.

Inside, there are spacious accommodations for two adults plus 22.4 cubic feet of cargo space for weekend getaways or grocery runs. Sure, the cabin materials are not exactly high-end, but the Corvette Z06 makes up for it with its daily driving dynamics and comfort, which make it a steal for less than $20k.

5. Mercedes-Benz E63 AMG | 507 HP

Mercedes-Benz E63 AMG

Regarding luxury powerhouses, little can compete with German art: Mercedes-Benz. Take a look at the 2009 E-Class, for example—the mid-size wonder that melts the boundaries between the luxury of the interior and power under the hood.

In 2024, you can get this nearly 500-hp gem for a steal under $15k; the used variant is priced for only $16,463. Its age notwithstanding, this E-Class will pamper you with heated front seats, spacious interiors, and top safety ratings.

It has a powerful 6.3 L V8 engine, available in either RWD or AWD and a 7-speed automatic. The engine churns out an impressive 507 HP, taking the five-seater to a speed of 186 mph. It’s fuel-efficient, too, and it is chock-full of sophisticated safety features so that you can drive in peace.

6. Ford Mustang GT Premium | 486 HP

Ford Mustang GT Premium

It is introducing the 2024 Ford Mustang GT Premium: the legendary American icon, now with a punchy attitude. With its muscular design and compelling performance, this muscle car promises to turn heads wherever it goes. Inside its hood lies its powerful engine, which has an impressive 486 horsepower, electrifying the driving experience. It’s not all about raw power; the Mustang GT Premium is just as much about premium features and amenities that ensure a delightful and comfortable ride every time. Get ready to unleash the thrill of the open road with the 2024 Ford Mustang GT Premium.

7. BMW M6 | 500 HP

BMW M6

Finding a used SUV with 500 horsepower under $20k may prove elusive, but fear not—it has a stunning sedan counterpart with the same power punch. Behold, the 2007 BMW M6, a luxury marvel, is available at an average price range of $14,430 to $17,271.

Powered by a strong V10 engine with a 7-speed automatic or 6-speed manual transmission, this beauty pumps out 500 horsepower. Whether as a hardtop coupe or a soft-top convertible, the M6 is as stylish as it is fast. And with features like soft-close doors, real-time traffic, and a tire-pressure monitoring system, it’s practical, too. Take a chance to elevate your drive with the 2007 BMW M6.

8. Audi RS 6 | 500 HP

Audi RS 6

Joining the ranks of high performance cars under $20k is this prestigious 2008 Audi RS 6, the third generation of this respected model. It’s also an absolute powerhouse that marks the introduction of a scorching 500-hp engine.

The engine is a dominating 5.0 L Audi twin-turbo V10 paired with a Tiptronic six-speed gearbox, which feeds the power to all four wheels. The RS 6 was claimed to be the fastest four-door sedan in the world in 2008, and it was nothing short of amazing.

Outside, the RS 6 is sophisticated with its distinctive front bumper, more oversized air intakes, and sporty-looking 19″ alloys. Inside, the interior is nothing less than luxury, with carbon fiber and leather generously decorating the interior, complete with sport bucket seats and a flat-bottom steering wheel.

9. Jaguar XJ XJL Ultimate | 510 HP

Jaguar XJ XJL Ultimate

For some old-school luxury on a budget, check out the 2013 Jaguar XJ XJL Ultimate, starting at about $20,000. Two powertrains abound: a base supercharged 3.0-litre V6 making 340 hp and a 5.0-litre V8, available with all-wheel drive and puts down a whopping 510 hp.

As a limited production model, the XJ XJL Ultimate has an upgraded electronics interface and a premium sound system to enhance your driving experience. With its excellent fuel economy, spacious and stylish interior, and classy exterior design, the 2013 Jaguar XJ XJL Ultimate is the best among those chosen. And when you factor in the $20k price tag, it becomes an unbeatable value.

10. Mercedes S600 | 510 HP

Mercedes S600

Among the best 500 hp cars under $20k in 2024, the 2008 Mercedes S600 is among the top contenders; it showcases a perfect blend of elegance and performance. This S-class beauty promises an unmatched driving experience, with poised handling, acceleration like a sports car, and engines that pull like an airplane.

The S600 is fitted with some of the most powerful engines on any sedan. It also has agile handling and a level of comfort found nowhere else. Each seat is designed around 11 air chambers, allowing you to customize your comfort level.

With a massive V12 engine that churns out 510 horsepower, the S600 promises a driving experience to fulfill your need for speed. Its COMAND driver interface can be slightly complicated, and its newer models carry more premium than competitors; however, the pure luxury and performance of the 2008 Mercedes S600 make it a class apart.

So, here’s our list of the budget friendly 500 horsepower cars that can be bought for under $20,000. From the Mercedes-AMG C63 S Cabriolet down to the quintessential Chevrolet Corvette Z06, these are the best gems around that blend both power and price. Be it the speed enthusiast or the thrifty looking for a hot deal, there’s a ride to have. We have tried to make an informed decision for you by giving details of every vehicle with respect to its specs and performance. Now, step on it and make your dream of owning such a highly powered car a breathtaking reality.

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