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400 HP for Under $40K? Try These 6 American Classics
We may be serious nerds for data analysis at Hagerty Insider, and we cover sales big and small, but our love for cars keeps us in touch with the simpler pleasures: convertibles, 1990s luxury coupes, and, of course, good ol’ American V-8s. That quest for simple pleasures at reasonable prices led us to the list below: We compiled a great big spreadsheet of all the cars in the Hagerty Price Guide with more than 400 horsepower, narrowed it down to examples in #3 (Good) condition—this means they are driver-quality examples that might need a little work hear and there—then capped the price at $40,000.
The spread of vehicles represented was interesting in itself. Nothing before 1958 made the cut. (Perhaps not that surprising, given the evolution of powertrain technology.) The vehicles from the ’60s were generally big-displacement beasts with equally big footprints, though we include a few exceptions below. Only a handful of ’70s cars appeared—thanks, emissions regulations—and precisely zero vehicles from the ’80s. The ’90s and on, as you’d expect, is a cornucopia of interesting, affordable, and powerful vehicles, from the twin-turbo ’91 Callaway Corvette (coupe and convertible!) to the “Viper pickup” (aka Dodge SRT-10) and first-gen F-150 Raptor to the 2011 M3, several AMG models, and 2011–14 Mustang. Shout-out to the C7 Corvette, too!
We were feeling nostalgic this week, so consider that list of modern vehicles an amuse-bouche. Yes, this list does contain some rarities—configurations that may be tough to find—but it’s worth occasionally highlighting some cars and trims within the Hagerty Price Guide that don’t get as much attention as others. From station wagon to droptop to T-top, here are 6 sub-$40,000 older classics with over 400 hp.
This story has been updated.
1964 Chevrolet Bel Air Station Wagon
#3 Value: $25,700
The Beach Boys may have saved their pennies and dimes for their four-speed, dual-quad, Positraction 409, body style indeterminate, but a ’64 Bel Air wagon with the same engine is downright affordable. This model year falls about 11 years after the famous “Tri-Five” Chevy we all remember, and two years after the “bubble top” Sport Coupe, when Chevrolet had downsized its full-size model and was trimming the number of variants. Of course, the wagon remained.
Our sub-$40,000 candidate today has the 409-cubic-inch V-8 in the higher of the two available tunes (425 versus 400 hp). The dual-quad setup was standard on this configuration, but expect to spend an extra 10 percent for a four-speed. Either way, we like to think that The Beach Boys would approve—as would any group that you’d take to the lake or beach in this powerful, spacious Bel Air!
1966 Chevrolet Caprice Coupe
#3 Value: $28,400
The Caprice began life as a zhuzhed-up Impala and, in 1966, became its own model. Its theme was “low-cost luxury,” according to a dealer advertisement from Allen Brown Chevrolet in Glendale, California (closed Sundays). The distinguishing features of the Caprice aren’t that different from what you might find in a “Limited” or “Premium” trim of a $40,000 car today: real wood trim, premium cloth and vinyl upholstery, and some black accents on the grille and rear trim panel. Our focus today, however, is on what lay under the hood.
Known as the L72, this 427-cubic-inch, 425-horse V-8 was the top dog of Chevrolet’s engine lineup in 1966. It wasn’t common: According to Detroit Automotive Restoration, only 1856 full-size Chevrolets were produced for the 1966 model year … out of nearly 1.5 million cars! But, should you track down an L72 Caprice from 1966, you can get a screamin’ deal, because these cars cost less than $30,000.
1970 Cadillac Eldorado
#3 Value: $17,400
How could we not include this giant slice of luxurious American pie? The lone ’70s vehicle on this list is also the only Cadillac made before 2004 that fits our parameters. The 1970 Eldorado is a lot of car for the money, and a lot of engine, too: The 500-cubic-inch mill was the largest displacement engine Cadillac had built to date, and for 1970, it was only available in the Eldorado. It made 400 hp and a whopping 550 lb-ft of torque, and 60 mph arrived in 8.8 seconds, which was enough to “[make] the spirit of the seventies come alive with rare excitement,” according to Cadillac. Part of the fun of shopping for one of these, we imagine, is the variety of paint colors and upholstery options, to say nothing of the Brougham-ish vinyl roof!
1965 Dodge Coronet 440 Convertible
#3 Value: $36,000
As you’re perusing Facebook Marketplace or your favorite auction site, keep your eyes peeled—a humble Coronet convertible could prove to be a killer deal. The “440” in the name of this variant is actually a trim level, which brought such niceties as carpeting, an Air Foam Front Seat, and backup lights. “Lots more than you bargained for, in style, size, and spirit,” proclaims a 1965 brochure. And that’s true today, if you can track down a Coronet 440 convertible with the available 426-cubic-inch V-8, with dual quads, which made 425 horsepower. “Handle this one with care,” warned Dodge’s PR department. “It leaves nothing to the imagination.”
1963 Ford Galaxie Sunliner
#3 Value: $38,400
This list wouldn’t be complete without Ford. The move, for the budget-conscious Thunderbird shopper, is to forgo the 1963 coupe with the top-of-the-line 427 and choose a two-door convertible from the same year equipped with the 406-cubic-inch V-8 and three deuces; the latter has only 20 fewer hp and costs half as much. Big, powerful, and beautiful, with those signature round Ford taillights, this would be a perfect summer cruiser for you and a few friends.
1968 Chevrolet Corvette
#3 Value: $39,800
As an unabashed fan of the third-gen Corvette, your author should perhaps keep to herself the news that a chrome-bumper, big-block C3 can be had for less than $40,000, but who cares. This is worth celebrating! For a scratch under $40K, you can enjoy the T-top versatility, liquid styling, and all-American burble of a first-year C3 coupe with 427-cubic-inch L68, which made 400 hp. Chevrolet offered 10 exterior and seven interior colors this year, and the options list was appealing (leather seats, power steering, rear window defogger, tinted glass). Okay, so there were some build quality issues with the first model year that were subsequently dialed out, but for the power and the looks, this is totally worth the trouble. (I’ll take mine in any color but yellow, if you’re asking.)
The 70 El Dorado is on my target of opportunity list
Straight from the NAVY in 1969, I hooked a job selling boats in Sarasota, FL. All of the top salesmen drove up-to-date Cadillac’s (usually equipped with loud train horns; it was ‘in’). The first thing the sales manager did was take me to the Cadillac dealer, co-signed with me a contract for a new 1970 Eldorado. The strategy was to “get me deeply in debt” so I’d work my tail off to cover the payments. It worked.
Yes, Cadillac called that optional horn a “trumpet horn “. God that was a beautiful sound! I really miss it.
I find locating a car like these with these engines tough to find at this price.
Now a C6vCorvette ya that is one as well the new Hemi cars as well Camaro and Mustangs.
Came here to say this C6 is well under $40k for most models and years. Decent ones are under $30k.
400 Gross HP for Under $40K would be more accurate. You can find more current LS powered Camaros Corvettes, Mustang GTs with actual 400+ hp.
Missin’ the point….
Yup, they measured quite a bit differently back then. I think 400HP then would not even be 300WHP now.
net vs gross, but i will say my late model pickup with 420 hp 6.2L (378ci) has about half the power of my ’69 375hp 396 (6.5L)
So I am a dedicated Corvette guy having owned 20 over the years. One was a new International Blue 1968 327 – 300 convertible. Saying there were build quality problems is a gross understatement. Among many other issues this was the first year for “emission controls” and the car constantly backfired and was underpowered with the 327 – 300. The most egregious thing however was after I had the engine “retuned”, at high speeds the front end would literally lift off the pavement. I still loved the car.
I also had a 69 and an 80 that would do the same. The thing is, if you pushed it a little more it would suck down to the ground like a pure race car!
My first car was a 1968 Corvette convertible I bought used and abused in 1978 for $3500. It was originally equipped with a 427-400 horse but the tri-power intake and carbs were off and a Holley 750 was in its place. It leaked water like the top was down in the rain. It had obnoxious chrome side pipes you could hear from space, and it broke down every 3 days, but I was 18 and didn’t care! The seller wanted me to buy the tri-power intake and 3 carbs for $100, I looked at it and since I spent my last nickel on the car( with a little help from Mom) I turned him down. Last year at Corvettes at Carlisle I found a complete tri-power set up needing restoration and the asking price was $7,000. Whoops. I’ve had 17 Corvettes since but that was was an eye-opener(and ear piercing loud too)!Always wanted another ‘68, this time in Corvette Bronze with Tobacco interior.
Fred, your Air Injection Reactor (cleverly AIR) system was likely removed by the time you bought the car, a good thing. At least the 4 barrel replacement was a Holley. The Rochester Quadrajet on my car, while seemingly a good idea to improve gas mileage with the smaller front jets, had an annoying hesitation when the car was “floored.” Also my top leaked like crazy, one wouldn’t want to go through an automatic car wash unless they needed a shower.
Can never be too loud!
+Simple…….as a car guy for EVER…….
If it’s Too Loud, You’re TOO OLD !
Hell, my V-W makes 140 hp & the car weighs 1075 with a full roll cage !
And it gets driven with a stinger on the extractor exhaust, on the street.
WORD! ; )~
I don’t know where you found a 409 wagon for $25,700 and Heni’s for under $40k. I have never seen a 1960 Ford Skyliner (retractable).
Sunliner! Read it again.
I agree, there is no way you’re getting any model hemi convertible or 409 wagon in #3 condition for under $40K. A basket case, maybe.
The 1960 Ford Galaxy line up did not include a retractable top convertible, only the soft top. The Skyliner was a bubble top.
No, the Starliner was the bubble top. Sunliner, convertible; Starliner, bubble top; and Skyliner, the retractable (1957-59).
I’ve told the story of my 68 Corvette L-89 before. I bought it from a GM engineer selling it to get his 69 Corvette Drive and Buy! I don’t feel you can use quality and 68 Corvette in the same sentence!
That said, I didn’t buy it for quality, I bought it because it was the fastest car I’ve ever owned.
I put the factory side exhaust on it and to this day I can still remember the exhaust sound as I went through the gears.
It died two weeks after I sold it, when a young lad got in over his head and totaled it.
I miss that car!
I have to question Hagerty’s remarks on the 1966 Chevrolet. They say only 1856 full size Chevys were made. Give m e a break….. The 66 line up included Caprices, Impalas, Belairs and Biscaynes plus station wagons. I think someone at Hagerty is smoking something besides Marlboros.
427 cars.
I have a 66 Hard Top Sport Coupe with a ’74 warmed over 400 cid SBC with a sniper EFI. Just like the corvette guy, when I was done building it, I would pull the front wheels just trying to take off from a stoplight. Had to install a carb linkage off a demon carb to slow down the progression to make the car drivable on the street. For such a big beast it was relatively light, only 3600 lbs compared to other bloated B-bodies of the day. The rear factory four link was good enough for some serious racing too. Only had to install a stiff rear sway bar setup to keep things good and planted.
I’m not sure this purchase fits the category but the problems I had with it sure do. Against my father’s
advice I bought the car of my adolescent dreams. For $600 I picked up a ‘56 Chevy with a a 283 Corvette engine. It had the famous Duntov 097 solid lifter cam, two four barrel Carter carbs, the beautiful aluminum Corvette valve covers, a Hurst shifter on the floor, etc. I owned it for about one year. It got seven miles to the gallon, used a quart of oil every 150-200 miles and ran right for approximately one week the entire time I owned it. To be honest I didn’t have the mechanical skills or tools needed for the car and was trying to get through college. It had great bones and lots of potential but I was the wrong guy for the car at the time. I sold it to another young guy with stars in his eyes. It didn’t have 400 horsepower but for the week or two it ran right during my ownership it felt like it. I still remember the acceleration surge and the engine roar when both four barrel carbs kicked in. Looking back on it now, maybe it was worth it after all.
When 19, I bought a 1967 Camaro and dropped in a 350 LT1 clone. Your pain = mine. It being a nearly 20 year old car didn’t help but it over-heated in a drive-thru line up and attempted to demonstrate every possible electrical problem during my short ownership. In hindsight, a rad swap would have fixed the heating issue but I was in college and was the right guy, right car, wrong time.
No hemi in 64, 426 wedge
Exactly. Never a hemi in any Fury.
Indeed, and a real 426 (or even 413) Max Wedge trim car that the author seems to be describing (I don’t think dual quad intakes were available on anything else) are unobtanium at the stated $36k price point. Chrysler only made ~700 Max Wedge Coronets in ’65. So if anyone finds a real MW car: Fury, Polara, Valiant, Coronet, etc… for less than $40k, buy it! Decent clones cost that much.
There were no Max Wedges at all, nor street Hemis, offered by Chrysler in ’65. Hottest street set up for Plymouth and Dodge was the 426 Street Wedge, single 4 barrel, 365 HP. Very stout but let’s get our facts straight Hagerty…
The 426 Street Hemi was not available until 1966, earlier cars were low production homologation specials for racing. Good luck finding a complete running Hemi car for under $60k. Poorly researched and edited.
Typical of the poorly researched articles these guys do , and they are supposed to know their stuff .Embarrassingly wrong info …again.
I searched for affordable American higher HP cars for a couple years and gave up. They are out there but are expensive. For 1/3 the price I bought an AMG SL55, 510 hp. Drop hard top to boot.
Good article. But I would like to know where you can purchase a 424 Hemi ’64 for $32,500 or double that at $65,00! Spend more time on research…
No responses from Hagerty. Maybe this was written by AI…..?
Maybe neither Grace nor AI have the patience to remind every know-it-all commenter to actually read the article before they post. Hemi is not mentioned!
426 Hemi not out until ’66. But a ’65 Coronet Convertible with a big block for under 40K??? Buy two of em.
I drove my ’66 Corvette with the factory side pipes to Cleveland to visit a former army buddy and fellow firefighter. My head was still roaring two hours after I got there! He was a four seater Thunderbird man he would ask me, “Why don’t you get a real car?” I did get a ’72 Thunderbird a few years later used with low mileage. I really liked it, rode like it was on a cloud. He was a lucky guy, his cousin owned a Ford Dealership and he got big discounts on his cars.
IF you can find a 409/425 Chevy B-body wagon at all, let alone for 25 grand, you should buy it unless it’s a complete wreck.
Unobtanium is a word coined back in the ’80s that applied to extremely limited production high performance or otherwise desirable oddballs like this. Also applies to several other entries on this list.
What is this, Hagerty’s first venture into replacing knowledgeable automotive writers with AI?