The dream of dropping a Gen III HEMI into a classic muscle car or a modern project vehicle has never been more attainable, yet the financial barrier to entry often feels insurmountable when looking at high-end Hellcat or Hellephant options. In 2024, the market has bifurcated: while a new 6.2L Hellcat crate engine carries an MSRP north of $20,215, savvy builders are looking toward the 5.7L platform to achieve their power goals. The data is compelling—a budget-conscious 5.7L HEMI swap provides approximately an 85% cost saving compared to those top-tier forced-induction crates, without sacrificing the quintessential American V8 experience.
The cheapest way to acquire a HEMI engine in 2024 remains the used or refurbished 5.7L Gen III variants, often found on marketplaces like eBay or local dismantlers for under $2,000. However, for those seeking a balance of reliability and "out-of-the-box" performance, the sweet spot lies in the $2,100 to $4,000 range. For a maximum budget of $4,000, the ATK HP103 5.7-liter long block stands as the definitive performance choice, delivering 400 HP and 400 lb-ft of torque for approximately $3,999.50.
2024 Budget HEMI Comparison Table
| Engine Variant | Estimated Price | Horsepower (Est.) | Best Use Case |
|---|---|---|---|
| Used/Refurbished 5.7L | $1,200 - $1,900 | 345 - 390 HP | Budget track builds / DIY rebuilds |
| Reman. 5.7L (2003-2008) | $2,190 - $2,500 | 345 HP | Reliable daily driver replacement |
| 'Eagle' 5.7L (Truck) | $3,000 - $3,500 | 380 - 395 HP | Heavy-duty swaps & high torque |
| MDS 5.7L (Car Variant) | $3,600 | 360 - 375 HP | Direct OE replacement (Charger/300) |
| ATK HP103 High-Perf | $3,999 | 400 HP | Performance swaps & restomods |
1. The Entry Level: Used or Refurbished 5.7L Variants (<$2,000)
For the builder prioritizing cost above all else, the secondary market is the primary source of hardware. A used 5.7L HEMI pulled from a high-mileage Ram 1500 or Jeep Grand Cherokee is the most affordable 5.7L HEMI engine swap entry point. In the current 2024 climate, these units typically range from $1,200 to $1,800 depending on the mileage and whether accessories like the alternator and wiring harness are included.
The "Buyer Beware" factor is significant here. While "refurbished" units on eBay might look clean, there is a distinct technical difference between a professionally remanufactured engine and one that has simply been steam-cleaned and given a new coat of paint. If you are going this route, focus on sellers who provide compression test results or a "start-up warranty." This tier is best suited for garage experiments where the builder is comfortable performing their own gaskets, seals, and timing chain refreshes before installation.
2. The Reliable Replacement: 2003-2008 Remanufactured 5.7L ($2,190 - $2,500)
The early Gen III HEMI (pre-2009) is widely regarded as the "gateway" engine for the Mopar community. Because these units lack the complexities of Variable Valve Timing (VVT) found in later models, they are significantly cheaper to remanufacture and simpler to wire for a swap. A standard remanufactured long block in this category typically sells for $2,190 to $2,500.
The remanufacturing process at this price point generally includes boring and honing the cylinders, grinding the crankshaft, and installing new bearings, pistons, and rings. It offers a "zero-mile" peace of mind that used engines cannot match. While it only produces about 345 HP in its stock configuration, it serves as a robust foundation for future modifications like a cam swap or upgraded intake manifold.
Browse Remanufactured 5.7L Options →
3. The Workhorse: 2009-2019 'Eagle' 5.7L Truck Variant ($3,000 - $3,500)
In 2009, Mopar introduced the "Eagle" revision of the 5.7L, which brought substantial improvements in airflow and efficiency. These engines feature revised cylinder heads that flow significantly better than the earlier versions, as well as the addition of VVT. For a budget of $3,000 to $3,500, a remanufactured Eagle truck engine is arguably the best "bang for buck" in terms of raw hardware quality.
The primary technical hurdle with the Eagle variant is managing the Multi-Displacement System (MDS) and VVT. Many swappers choose to use an MDS delete kit to simplify the oiling system and improve long-term reliability. Truck variants are often preferred for their mid-range torque curves, making them ideal for heavier project vehicles or utilitarian builds.
4. The Modern Classic: 2005-2008 MDS Car Variant ($3,600)
Specifically tailored for the Dodge Charger, Magnum, and Chrysler 300C, these 5.7L variants are slightly more expensive than their truck counterparts due to their specific oil pan and timing cover configurations. At roughly $3,600, you are paying for a direct "drop-in" fit for LX-platform cars.
The value proposition here often includes more comprehensive warranties. Many reputable remanufacturers at this price point offer 3-year or 100,000-mile protection, which is a critical consideration for a daily driver. These engines provide a smooth 360-375 HP and are the perfect solution for owners of aging Mopar sedans looking to refresh their vehicles rather than buy new.
5. The Performance King: ATK HP103 High-Performance 5.7L ($3,999)
At the very limit of our $4,000 budget sits the ATK HP103. If you are looking for a cheap HEMI performance engine that doesn't require further tinkering, this is the undisputed champion of 2024. This isn't just a stock rebuild; it is a performance-oriented long block designed for enthusiasts.
The statistics tell the story: the HP103 delivers a 14.2% power increase (400 HP) over the standard 350 HP output of the early 5.7L variants. ATK achieves this through the use of high-quality components, including hypereutectic pistons and a custom-ground performance camshaft.
Technical Insight: The HP103 is balanced internally and utilizes a 58-tooth reluctor wheel (though 32-tooth versions are available), making it compatible with modern aftermarket EFI systems like Holley Terminator X.
Check ATK HP103 Availability →
Critical Buying Guide: Long Blocks, Core Charges, and Hidden Costs
Navigating the world of budget HEMI engines requires an understanding of what is—and isn't—included in the box. When you see a price tag of $3,500, you are almost exclusively looking at a Long Block.
- Short Block: Includes the engine block, crankshaft, connecting rods, and pistons. This is the rotating assembly only.
- Long Block: Includes everything in the short block plus the cylinder heads, camshaft, and valvetrain (valves, springs, lifters).
- Complete Crate: Includes the long block plus the intake manifold, throttle body, fuel injectors, water pump, and sometimes the front accessory drive.
To keep a swap under $4,000, you will likely be purchasing a long block and transferring your existing accessories or sourcing them from a donor vehicle.
The Core Charge Trap
One of the most common surprises for first-time engine buyers is the Core Charge. Most retailers require you to "trade in" your old, damaged engine block so they can remanufacture it for the next customer. If you do not have an old engine to send back, you will be hit with a fee ranging from $500 to $1,000.
Pro-Tip: If you are performing a swap into a vehicle that didn't originally have a HEMI, you won't have a core to return. Factor this cost into your budget early, or look for sellers who offer "No Core Required" specials, though these are rare for high-quality remanufactured units.
FAQ
Q: Can I really get 400 HP out of a $4,000 HEMI? A: Yes. Units like the ATK HP103 are specifically designed to hit that mark. However, remember that achieving this power at the wheels requires a proper tune and high-flowing exhaust headers, which may add to your total project cost.
Q: Is the 5.7L HEMI reliable for high-mileage swaps? A: When remanufactured correctly, the 5.7L is incredibly durable. The main concerns are the "HEMI Tick" (often lifter/camshaft related) and MDS issues. By purchasing a remanufactured unit with upgraded lifters or an MDS delete, you effectively eliminate these factory weak points.
Q: What is the difference between a 'car' and 'truck' 5.7L block? A: While the internal architecture is similar, the external mounting points for accessories, the oil pan shape, and the timing cover often differ. Truck engines are generally easier to find and cheaper, but car engines are necessary if you have tight engine bay clearances, as seen in many classic car swaps.
Conclusion and Next Steps
Securing a high-value HEMI crate engine under $4,000 is not just possible in 2024; it is the most logical path for the majority of enthusiasts. While the allure of the Hellcat is undeniable, the 5.7L Gen III platform offers 90% of the character and plenty of performance for a fraction of the investment.
If you are ready to pull the trigger, your first step should be to determine your core situation. If you have a core to return, the ATK HP103 is the gold standard for performance. If you are starting from scratch on a shoestring budget, a refurbished Eagle truck engine offers the best modern tech for the money.
Whatever path you choose, the roar of a HEMI V8 is now well within your reach.
