Buy a 1970 Dodge Challenger and restore it and you might turn a tidy profit. Buy a newer Challenger and it’s going to depreciate considerably over the first 10 years. A 2021 Challenger might be a classic someday, but we’ll have to wait and see.
How do Dodge Challengers hold their value?
The Dodge Challenger will lose about 58% of its value over the first 10 years (MSRP of $49,274). The MSRP ranges between $28,095 for a base SXT to $78,695 for an SRT Hellcat Redeye Widebody.
Generally you can expect a better resale price the more powerful your Challenger. While the newer Challengers aren’t classics yet, some of them are exceptional pieces of machinery that will command a decent price. Here’s what you need to know.
How Will a Dodge Challenger Depreciate?
A 58% depreciation over 10 years might sound steep, but it actually puts the Challenger ahead of some other muscle cars. The Ford Mustang, for instance, only retains 32.09% of its sticker price after a decade. To compare:
Dodge Challenger
- Starting MSRP: $49,274
- 10-Year Retail: $20,695
Ford Mustang
- Starting MSRP: $36,370
- 10-Year Retail: $11,671
Chevrolet Corvette
- Starting MSRP: $73,446
- 10-Year Retail: $35,989
Chevrolet Camaro
- Starting MSRP: $38,637
- 10-Year Retail: $14,682
You can see that the Corvette outclasses the competition in terms of depreciation, losing roughly half of its value over a decade.
Calculating depreciation for a muscle car can be tricky. These cars are put through the ropes. They’re going to be used for drifting, drag racing, dirt roads and high-intensity action. That should hurt a car’s resale value, but…
People who own muscle cars tend to be devoted to their cars. If you can buy a $40,000 car just because it’s fun to drive, then you’re probably not going to put off all the little fixes and maintenance that you need to do.
These are cars for gearheads. So they’re going to a certain type of owner who is going to do everything they can to keep their rides in near-mint condition.
What are the Drivers Saying?
To look at driver reviews, the new Dodge Challengers are certainly built to last. Reading even the more negative reviews you will find few complaints regarding the car’s reliability.
However, you will find some issues with things like Uconnect not working, windows failing to roll up and down, and some drivers have noted that the basic model is perhaps a little too stripped-down.
What’s the Price of a Dodge Challenger?
SXT
The $28,095 SXT may be the base model Challenger, but it’s still a serious road machine with an eight-speed automatic transmission.
The 3.6L V6 24v VVT engine kicks out 305 horsepower and 268 lb-ft., and while the interior is stripped down compared to the higher trims, you do get a 10-way power driver seat and push-button start.
Rear wheel drive is standard, or you can go AWD for another $3,000.
R/T
The mid-range $34,995 R/T comes with a 5.7L V8 Hemi engine that produces 372 horsepower and 400 lb-ft.
The transmission is six-speed automatic with overdrive, and the car is RWD-only. From this trim level up, Dodge doesn’t offer an all-wheel drive package. These are built for doing burnouts on the drag strip, so you really want that rear-wheel drive.
The Performance Plus package is a good buy at $1,595 with P Zero Summer Pirelli Brand tires and forged aluminum 20×9.5″ wheels. For style, the $1,095 Blacktop package offers a rear black spoiler, Hemi fender badge and a sweet-looking black grille.
SRT Hellcat Redeye Widebody
At $78,695, this is the top-of-the-line Challenger with an incredible 707 horsepower 6.2L V8 Supercharged HO engine. But it should be noted, the standard Hellcat Redeye commands a slightly higher KBB value as the Widebody is more likely to get dinged.
Beyond sheer performance, the Widebody comes with an 8.4″ touchscreen display, a heated leather/metal-look steering wheel and Uconnect, among other features. But the real upgrades are all under the hood. You don’t buy a Redeye for an extra cupholder.
You have a $2,095 Plus package option with a power tilt/telescope steering column and some styling upgrades, but the coolest looking style package may be the Carbon suede for $1,595, with carbon fiber and suede touches throughout.
Some additional add-ons include:
- Harman Kardon speaker system ($1,795)
- Power sunroof ($1,995)
- Red seat belts ($395)
Drive What You Want
As other brands turn to all-electric motors to bring the 0-60 time down, the Dodge Challenger stands among the few last great American muscle cars. Just make sure you’re buying the one you want. Read the Vehicle History and drive smart.
