Is MSRP all it's cracked up to be?

Discussion in 'SRT Hellcat Purchasing' started by DrumHellCat, Jul 23, 2015.

  1. DrumHellCat

    DrumHellCat Gold Member

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    So...I am like many other forum users on here and feel my internal temperature rise at the mention of a Hellcat being sold over MSRP. I have been hunting since I went in to VON hell at my dealer last Sept (I am in Canada). Every place I checked that sold over MSRP didn't get a second glance from me. This past Monday my co-worker comes in and says he just bought a brand new Ram 3500 and got a killer deal on it. He knows I have been trying to find a Challenger Hellcat and mentioned it to the salesman. Sales man said for me to call him. I did. Said they have sold 8 HCs and have a Challenger M6 ordered, not spoken for. I asked how much. He told me a few K over MSRP. I told him I have an ordered placed with my other dealer for MSRP and I would pass. He asked if I was paying cash. I told him no but would put $20k down. He said, I bet I can beat your other dealer's monthly payments. Jumping to the end now, this dealer is charging $2500 over MSRP but offered me 2.5% interest (0% if I went short term). My dealer at MSRP could/would only give me the bank interest rate at 5.9%. End result (72 month term for both) is the OVER MSRP dealer's monthly payments were $65/month cheaper than my original dealer at MSRP. Seems to me, too good to pass up. They sell many more units than my original dealer (was just allocated their first one). Almost seems too good to pass up the over MSRP option. Opinions?
     
  2. Next Phase

    Next Phase Silver Member

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    $2k ADM isn't a big deal... Just to avoid the b.s. waiting and uncertainty.

    Go for it. The car is worth it.
     
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  3. ArcticWolf

    ArcticWolf BackinBlack

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    I know Sherwood Dodge had a black Challenger hellcat that came in a couple weeks ago but they wanted 99k.....so it's a steal :)
     
  4. MikeD1

    MikeD1 Silver Member

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    Never take the dealer financing unless it's some special thru FCA, you can always do better on your own unless you have credit issues. With $20K down, unless you have a crap FICO you can beat that 5.9% easy.
     
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  5. Harley88

    Harley88 Gold Member

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    2/3k over is like a FAST PASS at the amusement park! It's worth it to get to head of the line.
     
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  6. DrumHellCat

    DrumHellCat Gold Member

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    Not in Canada bro, at least from what I have seen/experienced (my credit is in good standing)...
     
  7. bofh

    bofh Hellcat Member

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    For those looking to finance, Chase is currently offering 2.44% for 60 months...I believe that a FICO of 730+ is required to qualify., I am pretty sure your local credit union would beat their rate as well. As for 1-3k over MSRP if the car is on a dealer's lot it might be worth it, if you are not willing to looking outside your determined area and/or wait for a car at MSRP to be delivered.

    I personally found a car in transit with a weeks worth of delivery time for MSRP...it just depends on if you want it right now. Just my two cents.

    Edit: Just saw that you're in Canada...I am not sure how financing works up there, so I can't comment.
     
  8. 4510

    4510 SRT Hellcat Supporter Gold Supporting Member

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    Not familiar with Canada... but can't you seek financing through some other institution but the dealers?
    I would suggest that some of the ADM you are paying is being used to buy down the interest rate with the bank.
    But, if at the end of the term you have paid less for the car than you would have for the MSRP deal... why not.



     
  9. Tazman

    Tazman Silver Member

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    5.9% ??? If your credit is good you can beat that easily with your own bank. (So as far as the dealer is concerned... yeah, it's cash)
    Edit: Just re-read your paragraph... if your bank is charging you 5.9%, when the current average rate (today) is 3.12%... get yourself in a new bank... or better yet a credit union.
    EDIT 2: That rate is a U.S. rate... I don't know about Canada, so I could be off base here, and you would be right that the dealer rate is better.

    As for the ADM... $2.5k is up to you. Remember the '16s are right around the corner... so the value will drop rapidly.

    Unfortunately for me... the only car that matches my order, the dealer wants over 20k ADM... so, MSRP is definitely all it's cracked up to be for me! :D
     
    Last edited: Jul 23, 2015
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  10. huggytree

    huggytree Gold Member

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    i would think if your looking for a common color that a search would yield a M6 right now for msrp somewhere in the US....

    if the color is your color and the price is right just do it.....ask him to meet you 1/2 way...i use that technique in bargaining all the time and it works almost 100%.....he wants $2500k adm....offer him $1250 and tell him you wanted msrp, but will meet him 1/2 way......

    mine was $5k adm to start and i got it for msrp.....they can ask what they want.....they still may bargain

    good luck!
     
  11. DrumHellCat

    DrumHellCat Gold Member

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    Thanks for the advice Huggytree. It sounds like you have seen the business end of many a negotiation. Sadly (for HC hunting), I live in Canada where there are currently about 400-500 Challenger Hellcats (I think) in the whole country. If the exchange wasn't so horribly poor on our sad CDN dollar right now I would have already come south and looked for one. The dealers up here know how hard they are to come by. Makes for tougher negotiation. The only thing I seem to find on the lots (or for private sale not over $100K) up here are Charger Hellcats (far too many doors for my liking).
     
  12. tjohnson

    tjohnson Hellcat Member

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    As many others have said, 2-3k over MSRP isn't that big of a deal, and I'd definitely jump on the deal if I had the opportunity. Most of these places are wanting like 80k for the Challenger, and 90k+ for the Charger, which I'd never spend. So I am just waiting for 2016 orders.
     
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  13. Akula

    Akula VIP Hellcat Member

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    I believe that the ADM will be going away in the next six months and there are guys and gals on this site that got a car for MSRP however I was not one of this fortunate group. I ordered a car and got exactly what I wanted (A8 and Serpia) and paid +5k and although I was a bit disgruntled at the time I couldn't give a flying fk now. Life is short and sometimes you gotta pay to play (earlier).
     
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  14. Cenziocars

    Cenziocars Silver Member

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    Where did you get the scoop FCA is ramping production by 100% for 2016? That's a bargaining chip on negotiation down the line! Can you directly point me to that data find. Thanks.
     
  15. soundman5000

    soundman5000 Silver Member

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    I say consider doing your best deal and then refi or get your own financing.

    FYI, Bank rates change but on 6/30/15 Wells fargo did 2.29% for 75 months via my dealer. Remember you can refinance ( all depending on credit etc but will be considered a used car and make sure your 1st loan is a simple interest loan with no pre pay penalties) I am doing just that before my 1st payment it due. I just worked out a deal with a local credit union for 1.99% for 75 months or 2.5% x 84 months and will do 3 months before my car 1st car payment due. Im going to do the 75 months and as crazy as it sounds I purchased my car 6/30 and with the refi I will not make a payment until 11/14/2015 ( thats like 134 days without a car payment @ 1.99%; I may be tired of the car and sell it before my 1st payment, LOL) I did not set out to do this but is how it is all working out, FYI

    looks like Dodge is reducing the 5/100,000 warrantee by 40,000 miles for the 2016 year!
    Chrysler Reduces 2016 Powertrain Warranties by 40 000 Miles News Car and Driver Car and Driver Blog so I say consider the 2015!

    Good Luck with your purchase!
     
    Last edited: Jul 24, 2015
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