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who makes the best sounding factory exhaust on a sub-$50000 car?
Depends on your tastes. If you like a fairly loud exhaust, then probably a base-model Corvette or Porsche Boxster without options, to keep the price below 50K.
If you like a quiet exhaust, at 50K or below, there is probably no substitute for a used Lexus LS430, or a used LS460 that can be had for less than 50K.
I know that many people like the Mustang GT exhaust note, but I disagree....I've never liked it. To me, it sounds flat, burbling, and nasal....more or less like someone trying to gargle mouthwash in the morning.