If you want a big luxury sedan with a big V-8 but don't want to spend big money, the Chrysler 300 has what you're looking for. It's literally the last of the Mohicans ... it's the only full-size V-8-powered luxury sedan that you can still buy for less than $40k.

Everything else that's similarly equipped costs at least $15k more. Most of them are a lot more than that.

What It Is

The 300 is Chrysler's top-of-the-line full-size sedan. It's similar in terms of overall size and interior space to other large sedans in the near-luxury class, such as the Toyota Avalon and Chevy Impala.

Those, however, don't even offer a V-8 engine — and they are front-wheel drive. The 300 is rear-wheel drive, another unusual thing to find in a sedan with a base price of $28,995, or $39,229 when ordered with the optional 5.7-liter Hemi V-8.

In addition to the V-8 being the only in this class, it's also the strongest engine in this class.

What's New

A Sport Appearance package is now available with the base Touring trim. It bundles aggressive-looking black chrome exterior accents and 20-inch black powder-coated wheels with thematically similar interior accents. There is also a Chrome Appearance package that flashes the car up with chrome accents and highly polished 20-inch wheels.

What's Good

—The big V-8 ... and the not-too-big price.

—The big gas tank (18.5 gallons) that offers big range in between fill-ups.

—Big space — more than 40 inches of back-seat legroom and 16.3 cubic feet of trunk space.

It's a luxury sedan in every way except its price.

What's Not So Good

You can get the V-8 for less than $40k — but you can't get AWD with it. Chrysler only offers the V-8 300 in a rear-wheel-drive configuration (you can get AWD with the V-6).

The Impala doesn't offer a V-8, but it has a bigger trunk (and even more back-seat legroom).

Under the Hood

The 300's standard 3.6-liter V-6 has 292 horsepower. The S trim, which gets a more free-flowing exhaust, has 300. This is more horsepower — either way — than the standard engines in price-equivalent rivals like the Avalon, which only comes with a 3.5-liter 268 horsepower V-6, and the Impala, which comes standard with a 2.5-liter four-cylinder with 195 horsepower.

The 300's 3.6-liter V-6 is paired with an eight-speed automatic transmission, and you can either choose rear-wheel drive or buy the AWD system.

The optional 5.7-liter Hemi has a class-best 363 horsepower and is paired with an eight-speed automatic. But it only comes with rear-wheel drive.

On the other hand, the Impala and Avalon also don't offer AWD.

On The Road

Driving a big sled — the 300 rides on a limo-like 120.2-inch wheelbase — with a big V-8 driving the rear wheels is an experience most Americans under 40 haven't experienced, having mostly grown up around smaller front-wheel-drive cars with four- and six-cylinder engines. It's something they should experience — and the 300's accessible price makes this possible.

The V-8's power delivery is effortless, and the big car's weight (almost 4,400 pounds) and solidity make you feel like king of the road — without the king's ransom to go with it.

At the Curb

The 300 is a square-jawed, broody and slightly menacing-looking car, which is part of its appeal. Owning this car is like having a serious crew around you.

People respect it.

Other drivers defer to it.

Inside it's plush and smooth and extremely quiet.

One of the reasons for this is its weight, but another reason is its ultra-stretched wheelbase, which enhances the car's substantial appearance in addition to giving it a limo-like ride.

The 300 is also broad through the beam (75 inches compared with 72.2 for the Avalon and 73 for the Impala), which accounts for the generous front-seat shoulder room (59.5 inches compared with 57.9 in the Impala and 58.2 in the Avalon).

The Chevy does have spectacular front-seat legroom — 45.8 inches compared with 41.8 for the Impala and 42.1 for the Avalon.

The 300's second row has 40.1 inches of legroom, just slightly more than the Impala's 39.8 inches. But both cars have less legroom than the class-leading Avalon, which clocks in at 42.1 inches. And the Avalon has more legroom in its second row than the 300 has in its first row.

The Rest

Features like heated seats and an 8.4-inch LCD touch screen are standard in all trims — and you can order heaters for the rear seats. Also included are power-adjustable pedals, adaptive cruise control, adaptive LED headlights and other high-end amenities like quilted leather seats and an exceptional 19-speaker Harman Kardon audio system.

Even loaded with literally everything on the options list, it's hard to spend more than $50k on this car. Most cars that are like this car and equipped like this car have starting prices closer to $60k.

The Bottom Line

Live large — without going broke!

View the Chrysler 300 this week.

Eric's new book, "Don't Get Taken for a Ride!" is available now. To find out more about Eric and read his past columns, please visit the Creators Syndicate webpage at www.creators.com.