Not Getting a Challenger Any Time Soon

**FLEX** · 05-21-2009, 05:08 PM

So I am going through the junk mail today and I see a flyer from the local Chrysler dealer. Start looking through it just for fun. Then I see they have a Surf Blue (nice) Challenger SRT8 with a 6-speed manual.

.

So I e-mail Miss Foxxxy at work and she says "Go check it out".

Wow, I have the best woman ever!!!

Get to the dealership and we start talking. Rookie sales guy has no clue about anything. It was like pulling teeth. Every question I asked him he had to go see his manager to get me an answer. I tell him I am 2 years into a 4 year lease on a Charger R/T and I want to get out of the lease and get into the Challenger.

The dealer couldn't contact Chrysler Finance to get the buyout on my lease (WTF?), and they couldn't tell me what they would give me for the Charger (WTF? x2). So finally I said "OK, let's get some ballpark numbers and go from there, to see if this is even feasible."

Here's the good, bad, and ugly (OK, there's no good, just bad, ugly, and uglier):

Cost of the Challenger SRT8 $52,250
Sales tax (13%) $6,792.50
Purchase Financing Rate 8.9%
84 month car payment: $996
That's almost $25,000 in interest!!!!!

Now that is just for the Challenger, here's the bad news on the Charger:
Residual value $17k
Tax on residual $2,2k
Lease payments left $19k
Trade-in value $18.5-20k
Upside-down on the charger: $18-20k

So on top of the $60k for the CHally plus tax I'd have to finance another $20k.

Ummmm...not even Bernie Madoff could make these numbers work.

It was a beautiful car....but it will have to wait.

Good thing I still love my Charger.

(The Chally SRT would have been nice, though...maybe next year)

-=FLEX=-

**Pale Rider** · 05-21-2009, 05:13 PM

Home loan possible? Lower interest for sure.

**HULK** · 05-21-2009, 05:13 PM

This does not surprise me. It killes me how dealers can try to charge the astronomical prices they do when you are trying to trade in a car that you probably bought from them just two years ago that is now worth jack compared to what you paid for it. What a scam.

Like you Jim... good thing I love my Charger as well.

-Pat

**FLEX** · 05-21-2009, 05:18 PM

Originally Posted by Pale Rider

Home loan possible? Lower interest for sure.

I had him re-do the numbers based on what we could borrow based on the equity in the house (about 4.8%) and it was still absurd. I just can't get past the $20k upside down on the Charger.

If it was something reasonable (say $5 to $8k) I could maybe justify it, but $20K??? That's nuts.

The car's worth is already approaching the end of lease residual value after 24 months?

Chrysler Financial better be willing to deal when the lease is up, or I'll put it back to stock and dump it in their lap.

-=FLEX=-

**GasGunR** · 05-21-2009, 05:26 PM

Not only is the charger killing you, but they are spanking your arse with that price on the Challenger. That has to be $8 to $10k over sticker.

Try the deal somewhere else.

**FLEX** · 05-21-2009, 05:29 PM

Originally Posted by GasGunR

Not only is the charger killing you, but they are spanking your arse with that price on the Challenger. That has to be $8 to $10k over sticker.

Try the deal somewhere else.

No, that is the sticker price.

I'm in Canada.

They said they'd negotiate, but I don't think I could get much below that. Maybe 2-3 grand at most.

-=FLEX=-

**JarZ** · 05-21-2009, 05:29 PM

Jeebus... 13% sales tax and 9% interest!

**xevilpetex** · 05-21-2009, 05:30 PM

Originally Posted by GasGunR

Not only is the charger killing you, but they are spanking your arse with that price on the Challenger. That has to be $8 to $10k over sticker.

Try the deal somewhere else.

Its in canuck bucks. That price is right about where it should be.

When i bought my magnum the first financing quote the guy at the dealership gave me was for an 8 year loan. It totalled out to an absurd number. It was much less absurd when i told him i wanted a 4 year loan.

**FLEX** · 05-21-2009, 05:30 PM

Originally Posted by JarZ

Jeebus... 13% sales tax and 9% interest!

That's down from 15% sales tax a few years ago....

**JarZ** · 05-21-2009, 05:37 PM

wow
NJ has 7%...NY I think has 8.25%... but 13%. That's almost European level tax/VAT slaps in the face.......

**SKULLBOY** · 05-21-2009, 06:07 PM

Originally Posted by JarZ

wow
NJ has 7%...NY I think has 8.25%... but 13%. That's almost European level tax/VAT slaps in the face.......

In Canada we have the GST (Goods And Services Tax), and then your Provincial Tax (which varies in each province....)

The GST is very similar to the VAT tax........

Too Bad Flex isn't out here in B.C......Danny Boy Would get him a killer deal on a Chally SRT8........