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The Chevrolet Camaro is one of the most storied nameplates in the American automotive performance industry, the model having first turned up in 1967 as a chief rival to the ultra-popular Ford Mustang. With Ford’s baby having broken sales records when it arrived in 1964, the Camaro was developed to show budget performance car buyers that two could play at that game.

The Camaro lost some of its star power as the muscle car golden era wound down in the early 1970s, though the 1990s signified a new era for the vehicle. Chevy pushed hard to ensure it still fought competitively alongside the pesky Mustang, and the brand made a key and important change to the fourth-gen Camaro when it came time for its mid-cycle refresh.

The Fourth-Gen Camaro Featured Several Revisions Over Its Predecessor

As the 1990s dawned, it was time for the Camaro to take a new form. The angular body seen on the third-gen model was ditched in favor of a more futuristic and modern curvy silhouette, which was more aerodynamic. The new frock was also crafted from lighter fiberglass material to help save weight, while a new suspension configuration was designed in a bid to elevate the vehicle’s ride and handling. The MacPherson strut layout used on the third-gen Camaro was eliminated in favor of a double wishbone setup out front, though a rather old-fashioned live axle rear layout was still utilized out back.

A range of larger and more powerful engines was also employed, with a 5.7-liter naturally aspirated V8 known as the LT1 flinging 275 hp the way of the rear wheels. This powerplant ensured the model was well clear of the SN95 Mustang GT in terms of power too, with the Mustang only getting back ahead with the introduction of the Cobra model in 1996. To help keep the grunt under control on corner exit, every Z/28 was equipped with a limited-slip differential.

Chevy Made Some Key Improvements In 1998

Chevrolet

As the new millennium approached, it was time for the Camaro to undergo a revision. While it received some slightly refreshed interior and exterior styling, the biggest change came beneath the hood. While the 3.8-liter V6 found in the base model remained unchanged, the LT1 V8 small-block was replaced by a new V8 unit called the LS1. While it retained the same 5.7-liter displacement as the outgoing V8, the LS1 was constructed from aluminum, rather than cast iron like the LT1. This made the 1998 Camaro the first of its kind to feature an aluminum engine since the 1969 ZL1.

Fashioning the engine from this material meant it tipped the scales a full 95 pounds lighter than its predecessor, which not only made the car more agile due to the reduced peak weight figure, but also more balanced. The Camaro had its V8 placed out front, so the reduced weight over the nose helped to tune out understeer.

The Camaro’s New Engine Also Brought More Firepower

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Aside from being lighter than its forerunner, the new LS1 also produced more grunt and further established the unit as one of the most iconic V8s ever designed. The reworked engine ran at a higher compression ratio than the LT1, and also came with a more efficient cooling system, which allowed it to produce an extra 30 hp over the pre-facelift Camaro. This translates to a peak power figure of 305 hp, with torque seeing a nice increase to 335 lb-ft. With either a six-speed manual or four-speed automatic transmission on offer, the 1998 Camaro Z/28 could reach 60 mph in around five seconds.

Later Third-Gen Camaros Boasted Even More Advantages Over Earlier Cars

Chevrolet

Wanting to move the Camaro’s driving prowess even further on, Chevy’s engineers also worked on the underpinnings of the car. Its suspension setup was tweaked further to improve the handling, while it also received a new, beefier braking system, a key upgrade considering the fresh wave of power available with the resharpened weapon. The 1998 Camaro represented a clear step forward in driving dynamics as far as the fourth-gen model was concerned, and the best bit is that you can have one of these historic muscle cars for a temptingly low price in 2025.

Around $15k Will Get You A Tidy 1998 Z/28

Chevrolet

According to Classic.com, a tidy 1998-2002 Camaro Z/28 should set you back between $15,000 and $20,000, which is good value for a tire-melting muscle car with north of 300 hp to play with. Extremely high-mileage examples can be picked up for under $10k, though a better bet is buying a sub-50,000-mile car, as these can be had for a relatively little extra outlay. Take a red 1998 model sold through Mecum Auctions as a good example, which sold for just $13,750 despite having only 44,000 miles on the clock.

The car boasted a targa roof and a clean interior, as well as a four-speed auto gearbox. Camaro Z/28s were more commonly optioned with the auto boxes, making good manual cars that bit harder to find. Good deals can still be had on these though, as evidenced by a black 1998 Z/28 sold through Bring a Trailer. The near-spotless car was offered with just 4,500 miles on the odometer, and with useful options like the targa roof and an electrically-adjustable driver’s seat. Despite its ultra-low mileage, the car ended up attracting just $15,250 when the hammer dropped, showing just how cheap these underrated muscle cars can go for.

If You Spend A Little More, You Can Have An Even Harder Variant

Chevrolet

Alongside the Z/28 variant, Chevrolet offered the optional SS package. This brought along several mouth-watering refinements, which were headlined by a more powerful version of the LS1, which now produced 320 hp. The gains primarily came from a new exhaust system and a new forced-air induction system, which gifted the V8 some extra crucial fresh air for it to enjoy. A new 12-bolt performance rear axle was also added to the recipe, which helped improve traction even further over the base Z/28.

The SS also looked a bit different, courtesy of the aggressive forced-induction hood and more aggressive rear spoiler. The variant was also treated to a set of exclusive 17-inch wheels, which came wrapped in stickier Goodyear tires. If you want one for yourself, then you’ll need to spend closer to $25k, mainly due to the increased performance and rarity attached to the SS. A good example of what’s possible is a silver 2002 car offered by North Shore Classics, which is currently up for $18,900. Presented with an auto gearbox and the optional T-Top roof arrangement, the car is decent value with only 45,000 miles on the clock. Like with the Z/28, manuals will set you back more cash.

A good example is a black 2002 car sold by Gateway Classic Cars with just shy of 50,000 miles on the clock, which managed to go for $24,000. Still, at nearly half the price of a brand-new Mustang GT, a low-mileage fourth-gen Camaro SS is a tantalizing proposition if you’re interested in an underrated muscle car.

Sources: Chevrolet, Classic.