Red NA Mazda Miata on forest road, front 3/4 viewOne of the great things about buying or owning a classic car is that the umbrella of classic cars is always expanding. As each year passes, a whole new batch of potential classics emerges, evolving from simple used cars into possible collector's items, or into something rarer and more interesting than your typical second hand vehicle.Even as eras change and new favorites emerge, those older, more established classics remain, and they can be more affordable to buy and own than you might imagine. As almost everything else, the value of a classic car is driven by supply and demand. A car that's both rare and highly desirable will be more expensive, but rarity has never been the only factor in making a good classic car.In fact, there are many popular classic cars that remain affordable to purchase and, crucially, affordable to own. This is thanks to things like large production numbers, generally stout mechanicals, and easy-to-source parts. In most cases, that ownership experience is made even easier by having vast communities where information and advice are easy to come by. With this in mind, we've looked at the data and rounded up five of the most affordable classics out there right now, with a specific focus on established, well-known models. 1965-1966 Ford Mustang Hardtop1966 Ford Mustang Hardtop in studio, front 3/4 view, beige exteriorA highly recognizable, or even legendary, classic car does not need to be prohibitively expensive to own, and one of the best examples of this is the 1965-1966 Ford Mustang. As far as American classics go, a mid-'60s Mustang is about as quintessential as it gets. With these early cars now being more than 60 years old, they've already been celebrated as classics for decades.The key to the early Mustang's continued affordability lies in its massive production numbers. During its first two full model years, Ford sold well over one million Mustangs – meaning that despite six decades passing since they were built, there remains a bountiful supply of these classics on the roads. If you're looking for affordability, the hardtop (sometimes called coupe) body style is the one to get, with prices significantly lower than both the convertible and fastback. Classic.com's aggregate of 1965-1966 Mustang Hardtop prices show an average of around $22,500, with many examples currently priced under $20,000. Drivable projects can usually be found for a lot cheaper than that.The Mustang's affordability is not determined by its purchase price alone. Few cars from the '60s will be easier to find restoration or repair parts for than a Mustang. Its powertrain is simple and familiar, meaning you don't need to be a specialty mechanic to work on one. Whether you want something 100% original or are looking for a blank canvas to modify, early Mustangs are considered quintessential classics for good reason. Jeep Cherokee XJJeep Cherokee XJ parked on the street, front 3/4 view, very dark green exterior, Dutch platesClassic 4x4s and SUVs have always had their following, but the last several years in particular have seen a big boom in their popularity (and prices). If you are looking for a vintage 4x4 with the right mix of classic design, rugged capability, and affordable ownership costs, the Jeep Cherokee XJ might be the top pick. The XJ Cherokee's influence and accomplishments are well established, and its design is memorable enough that it directly inspired the latest, hybrid version of the Cherokee.Jeep sold the XJ Cherokee from 1984 all the way until 2001, so even as its classic status has grown, an ample supply of vehicles has kept prices from going too high. Classic.com estimates the XJ Cherokee at an average of around $11,000, with even prices for the most pristine or extensively modified XJs rarely going above $25,000. A recent Bring a Trailer auction shows that you can still score a decent two-door, manual transmission Cherokee for less than $7,500.A reputation for simplicity and reliability also lowers the XJ's cost of ownership, with most examples powered by the famously durable Jeep 4.0-liter inline-six engine. It's also generally recommended to avoid the first few model years. Though the XJ Cherokee may have aged out of its former, off-road beater reputation and into one as an emerging classic, it still remains one of the most affordable vintage SUVs out there — for now, at least. Air-Cooled Volkswagen BeetleSide view of bright green classic Volkswagen BeetleThe air-cooled Porsche 911 of the '60s and '70s is one of the most desirable classic cars out there right now, but you won't often find the word 'affordable' anywhere near one of those. Fortunately, there's another equally iconic, air-cooled German classic that remains outstanding value for enthusiasts. It's the original Volkswagen Beetle, of course. In fact, the Type 1 Beetle doesn't just make for a great first-time classic; it's a great first car in general.If you're looking for an inexpensive classic Beetle, you'll want to skip the more collectable versions from the '50s and early '60s and focus on the cars from the later '60s and early '70s. Classic.com shows an average Beetle for-sale price of around $20,000, but that number is skewed higher because of those aforementioned early cars. When looking at late '60s or early '70s cars, prices for a clean driver can be closer to $10,000 or $12,000, and usually far lower for running project vehicles. Should you buy a project Bug, there's no need to feel intimidated, because it's easily one of the world's simplest classic cars to work on. Inexpensive parts can be found in abundance, and VW ownership communities are vast. Should you wish to improve on your Volkswagen's paltry stock horsepower numbers, there's an entire industry and subculture dedicated to making air-cooled Beetles extremely fast. 1990-1997 Mazda MiataWhite Mazda Miata driving on coastal highway, high angle, front 3/4 view, tan interiorFor a long time, Japanese cars weren't commonly seen as classics, but booming values and demand show that those days are gone and aren't coming back. There are a number of inexpensive 1980s and 1990s Japanese cars that could be worthy additions to this list, but in the end, the classic, and famously affordable Mazda Miata remains hard to beat. It also fits here, because the Miata itself was designed to be a modern, easier-to-own version of classic European roadsters.The first-generation NA Miata, like most other Japanese sports cars of the '80s or '90s, is no longer the dirt-cheap bargain it used to be, but even with rising values, it still remains an affordable choice. On Classic.com, 1990-1997 Miata listings show an average price of a little over $10,000, with even the cleanest, lowest-mileage cars rarely going above $20,000, and you'll be able to find As this recent Bring a Trailer auction shows, with a budget of around six or seven thousand dollars, you shouldn't have much issue finding a decent NA Miata that doesn't need major work. The NA Miata is generally known for being both reliable and easy to work on, but because of the car's longstanding popularity among enthusiasts and racers, the biggest thing to watch out for will be signs that a Miata has been overly abused, or poorly and cheaply modified. On the flip side, that strong following also means there's huge aftermarket support, should you need parts, and a very active community around the car. Chevrolet Corvette C3Red late model Chevrolet Corvette C3 at a car show, front 3/4 viewAs with other classic cars on this list, this one shows that a legendary name and shape don't always have to come with a high price. Chevrolet sold the C3 Corvette from the late 1960s all the way until 1982. The newer, late '70s and early '80s models continue to offer some of the best bang for the buck in the Corvette world. The late C3 Corvette hits the sweet spot in a lot of ways, combining a low price with a distinct late '70s look, and simpler technology and fewer electronics than you find in the later C4 Corvette. Classic.com's listings show an average price around $34,000 for the C3 Corvette generation as a whole, but the later cars are typically priced at a mere fraction of that. For example, one dealer listing in North Carolina shows a decent-looking 1982 Corvette priced at a reasonable $11,500.The biggest drawback to the late model C3 Corvette is probably that its smog-era horsepower numbers don't quite match up to its aggressive looks. With the legendary small block Chevy V8 under the hood, however, your options for boosting horsepower without breaking the bank are nearly endless. Like all the classic Corvettes, C3s also have an abundance of restoration parts and repair parts available. MethodologyClose up of Ford Mustang roof lineBecause 'classic car' has a loose definition that can encompass a wide swath of vehicles, rather than just age and price, we kept our focus on established, easily-found models with broad enthusiast appeal, avoiding niche models that may be cheaper to buy, but lack parts availability, or otherwise unremarkable cars that are classics simply by age.The vehicles on this list were selected using current pricing data from sites like Classic.com, Hemmings, and online auction listings, with additional consideration given to general reliability, parts availability and cost, and strength of the ownership community. Want the latest in tech and auto trends? Subscribe to our free newsletter for the latest headlines, expert guides, and how-to tips, one email at a time. You can also add us as a preferred search source on Google.