There's a lot of reasons to consider buying the new 992-generation Porsche 911. It's the most refined iteration ever, with a host of handling and performance improvements over its predecessor. There's also more choice than ever for configurations, with tourers, convertibles, and race-spec 992s all offered to customers. But, the one downside of the new 911 is the MSRP. With an absolute base price of $97,400, the flagship Porsche is expensive for its segment, and that's without considering the higher trim levels and optional extras.

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For owners wanting the best that the 911 range can currently offer, prices can stretch well over $200,000 for the highest-performance cars. The truth is that, as good as the car is, that's just too much money for many people. The cars on this list are all great models in their own right, and share some of the same qualities that make the 911 so great. But. the difference is that they're tens of thousands of dollars cheaper. In some cases, owners could even buy two of these cars for the price of one new 911. It's hard to argue with that kind of value.

8 Audi R8

Audi R8
Via Audi Media Center

Buying a brand new R8 will set owners back a similar amount to a decent spec 911, but used their asking price drops dramatically. That means the earliest model R8s from around the 2008 model year can be picked up for a fraction of the price of a new one.

Audi R8
Via Audi Media Center

In all its years on sale, the recipe for the car hasn't really changed. Buyers of the 2008 model year will get a 4.2L V8 engine that makes 420 hp, more than enough power for all but the most avid of speed enthusiasts. It's also still a head-turning supercar, although at a fraction of the cost of a new 911.

7 Porsche 718 Cayman

Porsche 718 Cayman
Via Wikimedia Commons

With all the hype around the 911, it's easy to forget that Porsche also makes a smaller, cheaper sports car, the 718 Cayman. It's still very much a sports Porsche, and as such comes with the same excellent handling and power that its bigger brother has, but it starts at just $59,990.

Porsche 718 Cayman
Via Wikimedia Commons

That's around a third off the asking price of a 911, for very little difference in real terms. Sure, it's slightly down on power and it's not got the famous nameplate, but it's still just as capable and fun to drive. Lightly used Caymans, perhaps around the 2018 model year, offers even better value for money.

6 Chevrolet Corvette C8

Chevy C8 Corvette
autocar.co.uk

Another car that starts around the $60,000 range new is the Corvette C8. Now, there's been a lot of excitement around this car, mainly because it offers supercar looks and performance for close to half the price. It's mid-engine too, which means more power can easily be added and handling shouldn't be too badly affected.

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Chevy C8 Corvette
wsupercars.com

The C8 doesn't quite have the brand image of a new Porsche, but it's rapidly emerged as a serious contender in the performance car sphere. Chevy has done a great job at making a solid sports car here, and it almost seems a steal at such a low MSRP.

5 Older Porsche 911

Porsche 911
Via NetCarShow

For buyers who love everything about the 911 and can't bear to buy anything else, there's still an alternative to the 992-era Porsche. Pretty much any of the previous generations of 911 will offer better value for money, although at the moment the 996 generation of cars is exceptionally cheap.

Porsche 911
Via NetCarShow

Buying an older car obviously means that owners won't have such an advanced and refined vehicle, but at the end of the day, it's still a 911. That means it still offers an unmistakable driving experience, track-ready handling but enough smoothness for long road trips. Really, it's the only way to enjoy a true 911-like ride without shelling out for a new model.

4 Audi RS7

Audi RS7
Via HeyCar

One thing that buyers love about the 911 is its relative practicality for a sports car. It's actually more capable of hauling small amounts of luggage than many would give it credit for. If it's that element of the car that's appealing to a buyer, why not go the extra step and get an Audi RS7 instead?

Audi RS7
Via Autogespot

It's essentially a four-door supercar, with a twin-turbo four-liter V8 and permanent AWD. The difference is that it's got the added practicality of extra seats and a lot of extra luggage room. Perhaps it won't be quite as nimble as a 911 but for long road trips, it'll be just as fun to drive. It's worth noting that RS7s depreciate very fast so it's definitely worth buying one a few years old to get better value.

3 BMW Z4

BMW Z4
Via BMW Press

Porsche offers a selection of convertible and targa trims for the 911, perfect for cruises on sunny days. If that's the life an owner is after, a BMW Z4 can offer a more affordable but similar alternative. Prices start at $49,700 new, which saves nearly fifty percent over a base 911.

BMW Z4
Via BMW Press

It's still got the same foreign appeal as the Porsche, albeit without the same level of power. It's also a great-looking car, with a design that's sure to age well if owners keep it for several years. All in all, it makes for a hard-to-resist cheap option for those looking to avoid breaking the bank.

2 Lexus LC500

Lexus LC500
Lexus

The swooping LC500 coupe is Lexus' latest sports-ish offering, straddling the halfway point between performance and luxury. It's fast enough, but it mainly focuses on quality materials and craftsmanship, perhaps even more so than many lower-end 911s do.

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Lexus LC500
Via Toyota Global Media

Given the Lexus reputation for bulletproof reliability, it's also highly likely that no matter how hard the LC500 is pushed, it will never complain. It's also a fairly rare sight in many places, so owners will have the satisfaction of owning an exotic, even if it's not as quick as its German rival.

1 Ford Shelby Mustang

Ford Shelby GT500
Via Pinterest

There is another option for anyone concerned about buying an expensive piece of German engineering: don't buy one at all! Instead, buy a chunk of used American metal and get all the same power for a fraction of the cost. A well-depreciated Shelby GT500 is always a good option, as it's a model as iconic as a 911 but with less of the over-complicated technology.

Ford Shelby GT500
Via Mecum

As far as modern muscle cars go, Shelby GT500s are also some of the best-looking cars around, so they'll fit well into any buyer's garage. Much like a 911, it's also easy to modify these high-end 'Stangs, so really the only limit on the amount of power the car has is the owner's budget. Buying a used GT500 should give plenty of change leftover for modifications and changes should the owner want them.

NEXT: 10 Classic European Sports Cars We'd Drive Over The New Corvette In A Heartbeat