When you mention these three letters GTO, any gearhead immediately pictures the iconic Pontiac muscle car that has now become one of the most sought-after collector's items in the automotive space. Well-sorted examples can easily fetch between $50,000 to $90,000 at auction, with the "Judge" versions easily hitting six figures with an average price of $107,000.But what if I told you that Pontiac made a similar version of this car that was hidden in plain sight and offered all the same thrills for nearly half the price? It was understated by comparison, but it was the cheaper way to get the GTO performance if you knew what options to tick. It Was Based On The Pontiac LeMans The Pontiac LeMans was the bread and butter for Pontiac from the 60s to the 80s. While it was a car built for volume and served as the basis for all high-performance Pontiacs, which included the race-only Tempest Super Duty and the aforementioned Pontiac GTO.The LeMans was the car for everyone and was available in different body styles which included a two-door coupe/sedan, a four-door sedan, and a station wagon. For the 1970 model, Pontiac introduced the T-37 model, which was meant to be the cheapest coupe model with no fancy features, just a cheap stripped-down car that was lightweight and affordable. When Pontiac decided to add a "GT" package to this bare-bones chassis, it unintentionally created a giant killer. Why A GTO Alternative Was Made Mecum In the 1970s, muscle cars were becoming more expensive to buy as prices slowly kept climbing. Insurance rates were rising as well. Many high-horsepower cars were being driven by wild, speed-crazy enthusiasts, and they weren't happy. So they started slapping high premiums on anything with a GTO or SS badge.Pontiac needed a way to keep younger buyers in the showroom, so it decided to make a budget-friendly muscle car that was based on an existing economy car, which was the Pontiac Lemans. It was a car that could fly under the radar at your local insurance office, but still keep up with some of the fastest muscle cars at the time with the right performance package. The Pontiac GT-37 Was The Poor Man's GTO MecumPontiac introduced a GT package for the T-37 model and the marketing department wasn't subtle about who this car was made for. They explicitly called it “The GTO for kids under 30.”The GTO was becoming more of a luxury muscle car loaded with some of the best features and that meant it was becoming expensive. At the time, the GTO started around $3,600 and could cost over $4,000, roughly $25,000 today, if you wanted "The Judge" package. On the other hand, the base T-37 was a stripped-down coupe that started at $2,800 and the GT-37 package brought the total to $3,100, approximately $25,000 today.This might not be a huge price gap, but it was an average savings of 18 percent compared to the GTO. This was done by getting rid of a lot of features that simply weren't necessary. It got a regular chrome bumper and grille, the inside was sparse with almost no sound deadening or fancy accessories. However, you did get the hardware that mattered the most. This included a floor-mounted three-speed manual, heavy-duty suspension, and simple Rally II wheels. The Pontiac GT-37 Was Faster Than The GTO With Its Most Powerful Engine. MecumDespite being the budget version of the GTO, the GT-37 didn't really compromise on power. The base engine was a decent 350 cubic-inch V8 making around 250 horsepower, but you could also have more powerful engines if you wanted. The optional 400 cubic-inch V8 made 265-330 horsepower and 397-440 pound-feet of torque, but this wasn't the engine you really wanted.In 1971, Pontiac allowed the massive 455-cubic inch V8 to be dropped into the lightweight GT-37. This was the same engine used in the GTO but slightly detuned to 325 horsepower, but the High Output (H.O) version made 335 horsepower and 480 pound-feet of torque. The GT-37 was lighter than a fully-loaded GTO, so these engines felt even more explosive. It was a classic case of more power and less weight, which is a guaranteed recipe for better performance. If you really wanted to embarrass the guy in the GTO Judge next to you, you got the 455 High Output engine.It had the same power as the GTO, but it was lighter. The GT-37 could hit 60mph in 5.8-6.0 seconds and cross the quarter mile in 14.0-14.4 seconds. For comparison, the GTO was slightly slower with a 60 mph time of 6.2 seconds and a quarter-mile time of 14.4-14.9 seconds. It regularly beat the more expensive GTO Judge by nearly half a second and was quite literally the fastest car in the Pontiac lineup that year, but it cost less. The GT-37 Vs. The Competition MecumThe GT-37 wasn't just a threat to its big brother. It was a legitimate contender against the best from Detroit. It could go toe-to-toe with the Hemis and big block Chevelles, and compared to those cars, the GT-37 was a more balanced vehicle. It also handled better than the big boys because it had better heavy-duty suspension and its weight was closer to the Mustang and Camaro. Combine that with Pontiac's torquey V8 that provided more than enough torque, and it could easily keep up or outrun anything in its sights. The Pontiac GT-37 Is Going Up In Value Bring A Trailer For decades, the GT-37 sat in the shadows of its big brother. Since they were meant for younger buyers, many of these cars were used without a care in the world. Many were driven to the ground and saw a lot of abuse on public roads and local drag strips. And when the owners were done, many of these would end up selling as just another Lemans since they were simply the base cars with big engines. But today, the collector market is finally realizing how special these cars are.Rarity is the name of the game here. Only about 5,800+ GT-37s were made between 1970 and 71. To put that in perspective, over 50,000 GTOs were made at the same time. If you’re looking for a 455 HO version? Only 54 were ever produced; you would have better luck finding one of the thousands of GTO Judge models. This is the main reason these cars are slowly climbing in value. Current Market Valuations Bring A TrailerPrices may have started climbing for these cars but they are nowhere near as crazy as the GTOs. A base 350-powered GT-37 can still be found for around $15,000 to $20,000, which is still a great deal. However, the high-performance versions are now approaching GTO prices. A well-documented 455 HO GT-37 can easily fetch $40,000 to $60,000, and that number is only going to go up but at a much slower pace.The GT-37 is the perfect example of a car that fulfilled its mission. It was a car built for kids under 30 who couldn't afford the GTO and the high insurance premiums that come with it but could still beat the guy next to you. It wasn't intended to be famous, and that meant most people would forget about it after using it. But today, many classic cars are finally being recognized, whether they were originally famous or not and the GT-37 is finally getting the recognition it deserves.Sources: General Motors, Classic.com.