I'm going to go for the Charger, not the Challenger, but I'm planning on putting down about $20K. My credit union is doing rediculously cheap loans right now at 1.65%. It makes sense to use the cheap money.
I'm going to go for the Charger, not the Challenger, but I'm planning on putting down about $20K. My credit union is doing rediculously cheap loans right now at 1.65%. It makes sense to use the cheap money.
If I do decide on the HC, I'll be trading in the Roush RS3, which won't be until 2016 anyways. I'm looking to get a good amount on the trade-in as the car is MINT, very clean and has low miles. If not, I'll keep my car and see what I get for it towards a 2016 Z06. And if that doesn't work,...fine! I'll just mod the heck out of my car and buy a new daily driver. Maybe. LOL :bluecap:
96 months for a car? That's insane, it's only a car not real estate. After a few years you won't want it anymore even though you'll currently say "I'll keep it forever...." And you'll be buried in it upside down.
These cars need at least $25-30K down minimum. Sales tax, luxury tax and gas guzzler tax is a whole lot piled on top.
I saved and invested from my first job in the sixtys. Bought my 09 SRT with a check. It was toy that I earned.
The hellcat will come from a trade in (or sale) of my 09 and another check to cover the diff.
This is a tempting car to want and hope that some don't sell their financial future for it.
If I sell the 392 I'll have about 40k to put down as it's paid for. I don't plan on ordering until the spring anyway. I really want that Sepia interior and I always put my cars away in October so no use ordering now. If I don't sell my current car I'll just keep her and forge!!
I am planning on the 2016 Hellcat. I will have my 2011 Challenger paid off and it should still be worth close to $30K for trade-in/sell. Probably finance $35K. My payments will actually go down.
I am going to wait until the 2016 models come out and see how it goes. I will be paying cash. I still love my 2010 SRT8 and it is paid for and it is a good friend.
Buying these cars new and financing them is like throwing big piles of money in a bonfire. These thing will depreciate very quickly, you'll be underwater on a loan pretty quick even with 50% down. I haven't bought a new car since the 80's. I try to get a 2-3 yr old car with at least a yr of factory warantee left and very low mileage, somebody else took the hit on a lot of the depreciation and gas guzzler tax. I pay cash and enjoy them for many years. Got my current toys this way, the R/T had 7500 miles on it when I got it.
Defiantly the smart way to buy! Especially on such an expensive car and with all the guys hot to buy that can barely afford it this will cause these to come on the market used within a year or so. Savings you thousands when you include the guzzler tax and depreciation that you wont have to pay plus they will be practically new still. I believe the Hellcat will appreciate but that will be years away and at first they will take a pretty big hit in value.
I plan on a Hellcat mid-next year when the late availability options are available.
Will be trading my 2011 392. Hope to get AT LEAST 35k for it. It is mint with only 12k miles on it right now. Many upgrades as well.
Then I plan on putting down 10-20k more and financing no more than 10k.
When I bought my Mini a couple of years ago, I made sure that I could afford it without a trade-in so that I could sell my paid off '07 Caliber private party for cash. Sure, it sat up for about 6 months - but with the rate I got on the Mini and the 30% extra I got for the Caliber over trading it in or selling to CarMax (or similar), I covered the total interest to be paid on the Mini over the life of the loan. Plus I had play money
The only organ I have available is all shriveled and wrinkly and nobody wants it even if it IS a foot-and-a-half long. :icon_eek:
Eh....reading through all these replies sort of makes me realize that it probably WOULD be sort of foolish to buy a Hellcat. Investing that kind of cash at my age (55)?
Maybe I ought to be saving up for a supply of "adult diapers" and nursing home care.
Damn you Hellcat, you make my 375HP / 410LB-FT Challenger R/T seem "pathetically underpowered".