Will it hold value? - Dodge Challenger Forum: Challenger & SRT8 Forums

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post #1 of 24 (permalink) Old 10-06-2009, 09:20 PM Thread Starter
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Will it hold value?

Do u all think the srt8 will hold its value or drop just like every car? I really would like to get a srt8 or RT but if something was to happen like job loss could u sale it without losing $5000 or more. I really want one and would even do the RT but so many that do the RT wish they went srt8. Plus not near as many srt8's made but they are more $$$. Which would be the best value over time?
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post #2 of 24 (permalink) Old 10-06-2009, 09:25 PM
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I dont know which one will be better value over time, but they are retaining value. Some here have sold their SE's for more or equal to the amout they actually paid for them.

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post #3 of 24 (permalink) Old 10-06-2009, 09:25 PM
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At this current time, I would buy a used SRT. The values are down, especially since they are building again, and some people that have to have the "it" car, are over it, and they are now selling. I have seen low mileage supercharged cars going for under $40,000. If you have to have a new car, I say get the SRT, they will hold value pretty well, but no car is ammune to the "drive off the lot lose 25%."
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post #4 of 24 (permalink) Old 10-06-2009, 09:27 PM
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I am very glad I bought the 6 Speed RT. No remorse here at all... Want to put it in a plastic baggie and play the Barrett Jackson Lottery game??? By a Special Edition SRT.... Want to drive and have fun??? get the RT... Depending on your budget of course. Supply and Demand... thats what will determine everything.

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post #5 of 24 (permalink) Old 10-06-2009, 10:32 PM
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Challenger prices will drop like a rock like any other car. No investment argument can be made. Know you're goin' ta take a beating and just enjoy the car.

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post #6 of 24 (permalink) Old 10-06-2009, 10:41 PM
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Dodge and Chrysler have had some of the worst resale values in the industry. Now that the must have buyers are few, I would expect that prices will dip and deals will be available for new Challengers. The holiday season historically is one of the best times to buy a car. 2010 Challenger are now starting to hit the dealership lots and many are loaded with options making an RT go for 40K, which is ridiculous. And the fact that Chrysler's future is tenuous at best doesn't speak well for resale values. Personally, I'm going to wait until the end of the year before I pull the trigger, if Chrysler is still viable.

I realize this not what any of us want to hear, but we have to be realistic about what a Challenger is worth and if Chrysler has a future. Tuttle Click in Tustin still wants 5K over MSRP, go figure.

Essentially, here in CA, you would loose about 4-5K just on tax and license fees, in addition to the lower vehicle value. Drive a new car off the lot and loose 25% is probably very true.
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post #7 of 24 (permalink) Old 10-06-2009, 11:54 PM
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The SRT versions of any Chrysler, Dodge model will have a higher residual resale value - mainly due to the higher cost over the 6 cyl or 'regular' Hemi V8 models.

But, keep in mind US makes drop in value more quicker than imports in the first 4-5 years.

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post #8 of 24 (permalink) Old 10-07-2009, 12:21 AM
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It was SRT or no car for me from the start. This is my first new car ever. If I couldn't afford it or was worried about drop in value, I wouldn't have bought a brand new car. So far I love it, had it for 3 months and dread putting it away for winter. Get the SRT if you can: I met a guy that bought an R/T during one of the "Cruising the Dub" events, paid a surcharge as they were rare back then and regretted not having an SRT. An R/T would have been more within my budget but I was afraid that for about 12 grand difference I would have had regrets. And 12 grand is worth no regrets - you only live once.

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post #9 of 24 (permalink) Old 10-07-2009, 12:54 AM
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I was checking the paper and online just the other day as to what my car might be worth just out of curiosity. It appears that my fully loaded R/T is worth almost as much as I paid for it. I was pretty happy about that but I'm sure KellyBlueBook and Edmunds will still show depreciation because they work on a scale rather than the market.

What I can tell you is that whenever you buy a new car, you always want to get it fully loaded -- if you can afford it. It's the options that drive the resale price up as they don't depreciate as much as the car itself. A stripped down model will always take the hit in resale value. A lot of people buy a stripped down version thinking that they'll add the options themselves later. As many find out, the spare tire was $100 option from the factory, it's about $400 aftermarket, and that's a cheap option.

Now, as for the SRT vs. the R/T (both great cars), here are some of my personal observations:

The SRT is the top of the line model so it will carry its value the best. That is, until gas prices begin to rise, then the R/T will become the attractive model.

Since the SRT has only 50 hp more than the R/T, you can buy a fully loaded R/T, add a cat-back system, cold air intake and some engine bling and still come in well below the price of an SRT. But, with the SRT you get the 50 hp more, much better brakes, and a bunch of other stuff that most R/T owners add to theirs, like the hood struts, functional hood scoops, etc., all standard on an SRT -- and you WILL be adding mods -- almost every Challenger owner has, so you have to factor in being able to save that extra cash.

The R/T auto only requires 89 octane gas whereas the R/T 6 speed and the SRTs both require the more expensive 91 octane.

The R/T has a matching color painted rear spoiler whereas the SRT has a flat black one on all colors.

The R/T is available with chrome clad wheels, which look better with certain dark colors, whereas the SRT has the brush aluminum wheels.

The R/T has the ugly engine cover covering an even uglier plastic intake manifold (black) whereas the SRT has a brush aluminum intake manifold which gives it a much better engine appearance. To me, that's worth the extra money all by itself. At car shows, the R/T's engine compartment (stock) is almost an embarassment.

All of the Challenger models (SRT, R/T and SE) get the same visual response from people -- "Great looking car!"

If money is tight, then it's probably best to wait until you know that you can easily afford the car. It's better to have the car and sell it when you feel like it rather than finding out later that you can't afford it have to sell it. In the meantime, you can always keep an eye out for someone who got in over their head and are selling on the cheap just to get out from under the car. Although rare, deals can be had. I saw someone post last week that they bought an SRT on eBay for $35k. That sounded like a good deal to me.

Just my two cents.
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post #10 of 24 (permalink) Old 10-07-2009, 04:35 AM
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I've been watching cars sold not asking prices and found used R/T's going for 29,500-31,000 and SRT's from 35,000-40,00. The best values are left over SRT Chargers going for 33,000 - 35,000.
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