[Midwest mayhem]

Hey guys, new to the forum and soon to be new to the hellcat scene. Looking to order a 2023 here as soon as allocation opens up. I know rates are stupid right now but what’s everyone’s best experience for finding the best rates? Chrysler capital says 1.9-2.9 but I find that hard to believe when everyone else is 5-6%. I’ve heard as low as 4? Anyways little criteria to help. Looking at putting 10-15 down, credit is 790-818 depending on which Bureau you pull. I e heard of light stream, looking at the credit unions and all that jazz. I’m already expecting a high payment but want to try to do the best I can on the interest rate. Thanks

 

[HellcatHellYeah]

You can't look at current offers, they change every quarter so rates will be different in 2023 and the prime rate is being adjusted up so those rates probably won't be available in October.

As I recall your FICO score is the most important but check the big three agencies for discrepancies as they aren't always good at updating bad information. I had my drivers license stolen in the 80's and it took years to get all three major credit reporting agencies to take all the bad checks off my history, they have no incentive to verify the correctness of their reports.

 

[Arabex]

As mentioned above, the current rates only applies to 2022 MY and for very well qualified buyers (so better make sure your credit score is good). Rates change month 2 month and you’ll be able to qualify once the vehicle hits the dealer’s showroom, meaning once you are ready to take delivery of the vehicle…
Realistically speaking if 2021 is a good reference and follows this year then don’t hold your breath for a 2023 MY decent rates… these vehicles won’t be built/ delivered until late January/February and only God knows what will be the latest sh*t show from the current administration for the following months to come…
You are better off saving as much money you can praying that you can actually grab one of those 2023…

Frankly if you are after rates then I’d suggest you buy what you can get now, even if it used low miles you can work with your local credit union and still get a decent rate close to what Chrysler Capital can offer…

Good Luck!

 

[Midwest mayhem]

Not necessarily after rates as the whole reason for ordering is that I’m specific in what I want. It’s definitely a buy once cry once purchase for me and if the rates go to 10+% I’ll probably still buy one. That being said if I can save a little over the life of it I’d like to

 

[2ndAmend]

I hope you realize you will be paying a record price for the '23.

 

[BeepBeep]

Hey All,

New to the forum and just put a deposit down for a JB order so I’m hoping it works out!
What is everyone’s thoughts on the value difference of a REWB vs a Jailbreak in say 5 years….
I’m going back and forth.

thanks

 

[Midwest mayhem]

Yeah guys I get it…the economy sucks and interest is stupid along with inflation, prices and everything else. None of that is lost on me. Yes it will be expensive, yes it will be stupid on interest and payments and whatever else… your beating a dead horse. My thought was simply where are people having the best luck financing a close to 100k car with good credit and maybe save 5-10k over the life of the deal… no hurt feelings so don’t take it that way but hoping we can get over the dead horse and move on lol

 

[Slowpoke387]

Hey All,

New to the forum and just put a deposit down for a JB order so I’m hoping it works out!
What is everyone’s thoughts on the value difference of a REWB vs a Jailbreak in say 5 years….
I’m going back and forth.

thanks

The only real difference will be the ‘22/‘23 JB having options and the RE having none. A loaded car will always bring more money in the used market.

 

[ScLeCo]

Not necessarily after rates as the whole reason for ordering is that I’m specific in what I want. It’s definitely a buy once cry once purchase for me and if the rates go to 10+% I’ll probably still buy one. That being said if I can save a little over the life of it I’d like to

10% are you insane?
You're better off just paying cash at that point. Well before that point actually.

 

[NoScat]

Yeah guys I get it…the economy sucks and interest is stupid along with inflation, prices and everything else. None of that is lost on me. Yes it will be expensive, yes it will be stupid on interest and payments and whatever else… your beating a dead horse. My thought was simply where are people having the best luck financing a close to 100k car with good credit and maybe save 5-10k over the life of the deal… no hurt feelings so don’t take it that way but hoping we can get over the dead horse and move on lol

I saw a new 22 Challenger RE on EBay for 86k I think. I’d go with current inventory.

 

[Midwest mayhem]

That was actually the plan to walk in and pay cash outright but the timeline got cut short. By the time my order arrives I’ll have roughly 50% in cash but would rather keep some as a cushion. It’s not really about the money. It’s been my dream car since I was 2 starting with the old generation and has progressed to the new.

 

[Bobo]

10% are you insane?
You're better off just paying cash at that point. Well before that point actually.

You really think if he would or could pay cash he would even be asking these questions. Plenty of people make enough and are well off enough to buy one but just can not pay in cash. It is like that for I'm guessing most people. I am in this boat, I make enough to live very comfortably and can afford to buy my car but I just do not have the cash on hand to pay outright for it. Which of course is ideal but hey this is America, we don't have to make sense. If I cashed out my 401k and took some of that then yeah I could, but....that's even dumber than taking out a loan.

Edit to add: my parents had a 13+% rate on their mortgage in the early 80's!! So 10% on a car note is not unheard of. On top of that every persons situation is completely different.

 

[Cerino2000]

A loaded car will always bring more money in the used market.

Depends on the options and if you are talking about trading it in or selling private party. If you buy a $70k base model redeye and a $90k loaded redeye, and trade them both in at the same time 5 years later, the difference trade value is not going to be $20k. Be lucky to be a $5k difference. That’s $15k less that you’ll lose on the base model when it’s time to trade it in. Selling private party would be a different story.

 

[NoScat]

You really think if he would or could pay cash he would even be asking these questions. Plenty of people make enough and are well off enough to buy one but just can not pay in cash. It is like that for I'm guessing most people. I am in this boat, I make enough to live very comfortably and can afford to buy my car but I just do not have the cash on hand to pay outright for it. Which of course is ideal but hey this is America, we don't have to make sense. If I cashed out my 401k and took some of that then yeah I could, but....that's even dumber than taking out a loan.

Edit to add: my parents had a 13+% rate on their mortgage in the early 80's!! So 10% on a car note is not unheard of. On top of that every persons situation is completely different.

I was going to write a check for around 25% of the cost. Then they waived that zero percent financing and I went with it.

 

[zaimer]

It doesn’t pay to look at rates now, as they will likely continue to rise through the EOY (at minimum). You are a loooong ways away from even thinking about having a car.

As far as who offers the best rates, that will often depend on the individual. A generic answer is that I would recommend looking at credit unions, Chrysler Capital, and any banks you have a good relationship with. Again, when the time comes.

 

[Srt 2021]

Hey guys, new to the forum and soon to be new to the hellcat scene. Looking to order a 2023 here as soon as allocation opens up. I know rates are stupid right now but what’s everyone’s best experience for finding the best rates? Chrysler capital says 1.9-2.9 but I find that hard to believe when everyone else is 5-6%. I’ve heard as low as 4? Anyways little criteria to help. Looking at putting 10-15 down, credit is 790-818 depending on which Bureau you pull. I e heard of light stream, looking at the credit unions and all that jazz. I’m already expecting a high payment but want to try to do the best I can on the interest rate. Thanks

Ok Pal. Let’s put things in perspective.
If you are looking for MY2023, expect the rate to be raised. the MSRP will increase and most likely the ADM will come into play. Just get your finances ready but keep in mind that the big roadblock here will be “supply and demand” aka you have to pay to play. My takeaway starts working on 80/20 rule.

 

[Slowpoke387]

Depends on the options and if you are talking about trading it in or selling private party. If you buy a $70k base model redeye and a $90k loaded redeye, and trade them both in at the same time 5 years later, the difference trade value is not going to be $20k. Be lucky to be a $5k difference. That’s $15k less that you’ll lose on the base model when it’s time to trade it in. Selling private party would be a different story.

Agreed. Although to add to that, the majority of private parties will prob pass altogether on a stripped version unless for track use. I think the used prices will be all over the place in the future.

 

[Midwest mayhem]

Ok Pal. Let’s put things in perspective.
If you are looking for MY2023, expect the rate to be raised. the MSRP will increase and most likely the ADM will come into play. Just get your finances ready but keep in mind that the big roadblock here will be “supply and demand” aka you have to pay to play. My takeaway starts working on 80/20 rule.

Can you elaborate the 80/20 rule? Also I’ll post finances and let you crucify me if they are out of line.

28k in the bank. 2900 disposable income/month. Debt free and figuring Atleast 6 months before delivery so there’s another 17,400 set aside for dp,tax,title,etc. 790-800 fico. Roast me lol

 

[GoatZilla]

I don't see much worth roasting there....
I was intending to put half down and finance the other half, though rates are quickly climbing and will only continue to do so for the foreseeable future.

 

[Srt 2021]

Can you elaborate the 80/20 rule? Also I’ll post finances and let you crucify me if they are out of line.

28k in the bank. 2900 disposable income/month. Debt free and figuring Atleast 6 months before delivery so there’s another 17,400 set aside for dp,tax,title,etc. 790-800 fico. Roast me lol

The 80/20 rule…. Is the interesting way to live…. based off of reality and unbiased facts
Let me elaborate the 80/20 rule….
the taking-home income, which reflects your income after taxes is the 100%. a smart way to spend your revenue is to put the 20% of your take-home pay into savings. The remaining 80% goes toward your expenses.

Let’s take a look at the investment …
If the price tag on the hellcat after taxes is greater than the 20% per month. you are not financial stable to afford the car.

Let’s take a look at your finances….
Savings -$28k
Income/Month-$3k
Projection- $17k
Impact- $8k
Fico- 795
**
Let’s put your numbers in perspective….
Savings -$28k- Availability- $22k
Income/Month-$3k - Availability- $2k
Projection- $17k - Availability- $13k
Impact- $8k - Availability- $8k
Fico- 795
***
Hellcat- $85k
Term- 72 months
Rate- 2.9%
Downpymt-$27k
Loan Amount- $58k
72 Loan- $63k
Interest- $5k
Cost- $90k
Monthly Pay: $878.64

If your hellcat is $85k after taxes and the down payment is $27k… you will be dealing with a gap of $298/month aka impact// give or take you will be okay to afford the car. With this new market ***do NOT lease the hellcat.