Chevrolet is offering its new Camaro Z/28 for dedicated fans willing to shell out a whopping $75,000, which is the 2014 model's starting price.

With a hand-built, 7-liter V-8 engine, the Z/28 boasts 505 horsepower and 481 pound-feet of torque and has a six-speed manual transmission, the Los Angeles Times reported.

The "track rate" vehicle aims for speed and lapped around the famous Nurburgring race course in Germany faster than a Porsche 911 Carrera S, according to Chevy.

"The Camaro Z/28 is an uncompromising performer that's bred for the track--and every one of its unique components supports the goal of faster lap times," Mark Reuss, president of General Motors North America, said in a statement as quoted by the L.A. Times.

In comparison with the $75,000 price tag for the new Z/28, Chevrolet's base Camaro starts at $24,550.

The new Z/28 weighs around 300 pounds less than its predecessor, which had a $56,000 start price. Edmunds.com earlier reported that the car lapped the Nurburgring road course in a time of 7:37.40, which was four seconds faster than the domestic automaker's 2011 run in the Camaro ZL1.

The latest model also has overhauled suspension, forged aluminum wheels and carbon ceramic brake rotors, the L.A. Times reported. The car's body has been modified for "increased downforce at the kind of high speeds track driving hits" and to allow for additional cooling, the outlet said.

Despite the Z/28's expensive price tag, the car doesn't come automatically equipped with one of the most basic features needed in a vehicle: air conditioning.

Both air conditioning and speakers are optional features that will cost the Z/28 buyer an extra $1,150.

The first Z/28 will be auctioned off at the Barrett-Jackson auction in Scottsdale, Ariz. on Jan. 18, and the model will be available for order later this month.

See Now: OnePlus 6: How Different Will It Be From OnePlus 5?