It's nearly impossible to find any $500 beater cars now, let alone dirt-cheap sports cars. However, if you know where to look, you can still manage to dig up some cheap sports cars for under 5k.

We wanted some variety in our list of sports cars under 5k, so we're kicking it off with a first-generation Mercedes ... then the 1999 Mitsubishi 3000GT is your best bet. You'll likely have ...