The inaugural vehicle equipped with a Hemi V8 has now become a classic steal.

An all-American classic car with a Hemi engine rumbling away up front is the kind of automobile that many people dream of buying. But while a 1971 Dodge Charger R/T with a 426 Hemi and 425 horsepower may cost you $192,000 in good condition, according to Hagerty.com, there is a much, much cheaper option for classic Hemi ownership, if you know where to look.

Yes, you may look like an extra from Back To The Future. No, it won't win many drag races. But this car oozes style and sophistication and is an important part of US motoring history to boot. All this for the price of a ten-year-old Volkswagen Golf, although you can buy another great, newer American classic for around the same price.

HotCars used various sources for this article, including Hagerty.com for current vehicle valuations in good condition. Research includes using official data from Dodge.com, as well as experts such as Hemmings.com.

The 1951 Chrysler Corporation Imperial is the most affordable option for owning a car with the original Hemi V8 engine.

The Chrysler Corporation Imperial has been around since 1926 and was the name applied to the company's top-flight automobiles. What better way to celebrate the new dawn that was the postwar years than with a new model in 1949 that had lashings of chrome and a front fender that seemed to go on forever? It was the perfect design for the upcoming jukebox era. But not content with just creating a giant cruisy sedan that celebrated excess and freedom, Chrysler Corporation decided to roll out a new type of engine.

The Hemi Had Been Around For Years Before Chrysler Corporation Fine-Tuned The Concept

Even though the word Hemi will always be associated with American muscle cars, it was around before Chrysler Corporation made it world-famous. The Hemi design featured in some of the earliest automobile engines, including a four-pot Hemi in 1905 by Belgian company Pipe, and the design also starred in the 1907 Fiat 130 HP Grand Prix competition car.

Chrysler Corporation was developing the Hemi engine in the '30s and even toyed with the idea of applying it to an aviation engine, before creating a prototype 330 cu-in engine called A182 in 1948 and a later 331 cu-in, dubbed the A239. The name is derived from the hemispherical design of the combustion chamber, which allows for bigger valves and higher compression ratios, as well as helping to optimize the burning mixture of air and fuel.

Having passed rigorous durability tests, the new production Hemi was finally ready. This was a 180 horsepower, 331 cu-in FirePower V8, and it would be fitted into the 1951 New Yorker and Imperial. While the power output may not sound like much, the new Hemi-powered Chrysler Corporation was a quick car for the time. It's worth remembering that in the decade that had just passed, hitting 60 mph in 12 seconds was considered pretty rapid, and the Hemi cars were even quicker.

The Saratoga was launched three months after the New Yorker and Imperial and a two-door Club Coupe version was timed at 18.7 seconds through the quarter-mile, and an even 10 seconds to 60 mph, says Hemmings.com, making it one of the fastest American cars available. But of these first Hemi cars, it is the Imperial that is the cheapest today.

A 1951 Chrysler Corporation Imperial Is Probably A Lot Cheaper Than You Thought

1951 Chrysler Corporation Imperial Specs

Origin: Chrysler Corporation

1951 Chrysler Corporation Imperial Prices (Good Condition)