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New purchase research

4K views 28 replies 15 participants last post by  Xylander  
#1 ·
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 :)
 
#2 ·
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.
 
#3 ·
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!
 
#4 ·
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
 
#8 ·
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.
 
owns 2020 Dodge Challenger Redeye
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#7 ·
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
 
#11 ·
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.
 
#15 ·
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.
 
#16 ·
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.
 
#18 ·
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
 
#21 ·
Forgive my ignorance and lack of brain power as it’s been a long Monday already lol but what’s the availability part? I take home about 3900 a month give or take and my monthly expenses for everything is about 1k. This is all after retirement savings and such of about 6k annual.
 
#22 · (Edited)
Availability is % of your fund/revenue that you could use without negative impact [-20%-25%]
for example: The $28k sitting in your savings//the max you could take out is $22k.
I am impressed... your monthly expenses for everything is only $1k, I would assume that you don't pay mortgages. therefore you’re financial stable Pal-
 
#23 ·
So, $2900/mo disposable. Using all of your savings for deposit and ADM you will end up at about $1k/mo. $200/mo insu, another $100 for reg/taxes so $1300/mo total. And do you already have a garage and a good security system on it? And you already have and factored in the cost of a reliable vehicle as a daily driver? No? Then figure what, another $5-800mo for that? And what do you do if you are laid off? Break your leg? Get a ticket for 100+ and lose your license, insurance triples, and you need $15k for an atty?

Please don’t take this the wrong way, but it might be much wiser to shore up your financial position rather than risk being in debt for most of your life. Don’t underestimate financial freedom.
 
#25 ·
My big sticking point on buying is actually the insurance. It'll be $250/month for me. Can't use hagerty or the like unfortunately as I have a fender bender earlier this year. So that's $3k/yr just to have a hellcat that I'll likely drive less than 5k miles per year 🙄