The Chevrolet Corvette is considered an entry-level model for those who want to get into the high-performance scene thanks to its subpar supercar pricing. Some even call the Corvette the "budget Ferrari," especially the new C8 Corvette Z06, which comes with a flat-plane crank V8 mill.

In a recent video posted by DragTimes, the Chevrolet Corvette Z06 Convertible was pitted against the Ferrari LaFerrari in a quarter-mile drag race. On paper, the drag race was a foregone conclusion as the LaFerrari makes more horsepower, is lighter, and is assisted by a hybrid system.

To warm up, the Z06 went up against the Ferrari 458 first, where the American sports car stomped the competition with a 2-0 victory. Both cars are powered by a V8 but the C8 Z06 makes 670 horsepower with its 5.5-liter V8 engine, where the Ferrari ha a 4.5-liter unit generating 562 hp.

As for the main drag race, the LaFerrari got the upper hand with the hybrid supercar claiming a 2-1 victory. Looking at the specs, the LaFerrari had the advantage with its more powerful 950-hp 6.3-liter V12 hybrid engine and lighter body at 3,020 pounds, 880 lbs less than the competition.

Despite the advantage, the Chevy Corvette C8 Z06 still got off the line quicker, even making a significant lead over the LaFerrari. It was looking like a runaway win for America's sports car, but the Italian hybrid supercar's high-revving engine with electric motor assistance just pushed itself to the win.

It was still an impressive quarter-mile run considering that the Chevy C8 Z06 costs a lot less than the LaFerrari at around $160,000. The Corvette may be considered a budget Ferrari but it still managed to steal one win over the four-million-dollar-plus Ferrari supercar in a close three-round fight.