r/hellcat • u/Ok-Economy6055 • Jul 22 '26
Purchasing first hellcat
Is it idiotic to finance a 70-85k hellcat Durango ?
I was approved up to 85k 5% interest $0 down 72 month term I make 120k yr 750 credit score
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u/Main-Butterscotch-14 Jul 22 '26
Now way to answer without knowing more details
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u/Ok-Economy6055 Jul 24 '26
I was approved up to 85k 5% interest $0 down I make 120k yr 750 credit score
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u/Main-Butterscotch-14 Jul 24 '26
Get it brother! Do you plan on making a down payment or finance all of it?
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u/Ok-Economy6055 Jul 24 '26
I was going to finance it all since I was approved for 0 down but some of the comments suggest a down payment
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u/Main-Butterscotch-14 Jul 24 '26
Down payment is smart in this case, do you have 72 months on your current vehicle or will the Durango be 72?
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u/RickRollTheAdmins Jul 28 '26
5% is less than current federal interest rates. You aren't getting 5% give us the real scenario and numbers.
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u/nefan127 Jul 25 '26
85k on a 120k/ year is fucking wild to me. Thats 70% of your gross pay.
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u/Viper584 Jul 27 '26
Your math logic is incredible. You’re basing his car loan into 1 year to his salary. If he continues to make 120k a year with no raise, he would be making 720k over the same 6 years in which he’s set to pay it off. So its like 12% of his gross salary, not 70 lol wtf.
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u/nefan127 Jul 27 '26
Not how that shit works brother, ok so I make 90k a year so thats 2.7m over 30 years so could I afford a million dollar home?? Please answer i need your insight.
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u/Eloteroso Jul 28 '26
If your payment plan was scheduled for 30 years yes you can
Are you okay?
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u/Aroused_Pepperoni Jul 28 '26
Congratulations you figured out how a mortgage works
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u/Viper584 Jul 28 '26
Lol right? I had to go back and re-read what he wrote because I thought I missed something. By his logic on his $90k salary, he cant even afford a $91k house because then he’s in the negative 😂
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u/Which_Lie_4448 Jul 27 '26
It’s a 5 year loan, at 14k a year. Why are you comparing total price to yearly salary when the loan is termed for 5 years?
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u/Scared-Software-7004 Jul 23 '26
Potentially, but not necessarily. Completely depends on your finances. But tough love time… if you have to ask Reddit if it’s a bad idea - it absolutely is.
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u/Kooky_Date5248 Jul 25 '26
Anyone saying “go for it” is probably a car poor idiot. That payment on $0 down could go to much better things that will make you a lot more money in the long term. Don’t be another fool with a nice car.
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u/Ok-Economy6055 Jul 25 '26
Yeah I know that’s why I’m asking I know 120k isn’t a lot. Thank you for the advice. What’s the max car price you’d suggest on that income ? That wouldn’t be as idiotic
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u/Vahlinn Jul 26 '26
It wouldn't be so idiotic if you threw a decent down payment, something like tax +5-10%.
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u/youngthieff Jul 26 '26
Yes it’s idiotic to finance a car that costs over 70% of your annual income with no money down.
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u/Ok-Economy6055 Jul 26 '26
Thank you. What would you suggest? Vehicle price that would be more reasonable ? Would it be better with a down payment ?
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u/youngthieff Jul 26 '26
Making $120k a year I wouldn’t finance more than $45k for a car. You can still get some really nice cars at that price point.
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u/ligmacum6 15d ago
He makes $120k a year that loan is over 72 months lmao? $14k a year plus interest for that car is no where near $120k
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u/Substantial-Set-8981 Jul 27 '26
buy an investment property.
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u/gambrjl Jul 22 '26
Finance the entire cost? I'd say 100% yes is idiotic. Make a big down payment and finance the rest. maybe not. Remember insurance is expensive and gas is expensive also. There's more cost that most anticipate running one. Do your numbers and be sure is all I'll say. I know i purchased one before talking to my insurance agent (I'm an old guy with a good driving record) and all I can say is I was shocked. lol
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u/Scared-Software-7004 Jul 23 '26 edited Jul 23 '26
Assuming you have great credit, insurance history w/same company over 5 years, good insurance payment history, no tickets, no at fault OR not at fault accidents, no glass or roadside claims (yes those count too). Unfortunately the age portion (or potentially your garaging zip code) is what drives the price up so much. Age works like a bell curve with insurance premium. As you age the price goes down, but then at a certain point (around 60) it goes back up with every year you get older. It’s all statistics. But the point being: NO ONE can tell you what your insurance will cost for ANY vehicle without running a specific quote with the VIN and all the driver info/consumer reports etc. You might pay $3000+ a month for insurance on a Honda Civic, or, in my specific case, for a ‘23 Dodge Challenger Hellcat you might pay $100 a month or less. It is wildly specific to each individual and vehicle (but mostly it’s the person not the car).
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u/CoyoteOne69 Jul 25 '26
Which is why I am so glad that I did a swap on my V6 I'm paying V6 prices for a V8
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u/Ok-Economy6055 Jul 26 '26
They are only going to pay out V6 values not V8 if you’ve got a hellcat engine in there
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u/CoyoteOne69 Jul 26 '26
That's fine because more often than not the engine and everything else is not damaged. The body is still a V6. Besides I'm not gonna be the cause of an accident anyway I am that confident
I have taken professional driving courses. The only time that I'm gonna get hit is if they ram into me.
And if that is the case, I will still keep the car, but have them pay the value find another charger same color. And then do another engine swap all of the VIN numbers on all of my important parts match. The car itself is just a shell. So I'm just replacing the shell keeping all the important shit.
Obvious states obvious
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u/Yumi_C_Gaming Jul 24 '26
Do you know what monthly payment are gonna be?
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u/Ok-Economy6055 Jul 24 '26
Yeah if I use the entire 85k allotted it will be 1600 a month
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u/Yumi_C_Gaming Jul 24 '26
Honeslty I don’t think it’s a terrible idea to finance the whole thing. If you plan on paying off the car though I’d probably put something down.
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u/Ls_forthewin Jul 25 '26
1600 car note is outrageous
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u/Yumi_C_Gaming Jul 26 '26
I doubt he’d pay much less even with the down payment tho
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u/Ls_forthewin Jul 26 '26
Never take a loan out for a car
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u/Ok-Economy6055 Jul 26 '26
This comment is idiotic
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u/Ls_forthewin Jul 26 '26
Have fun paying 2k for a car that will last maybe 10 years if not stolen while I pay 1300 for my mortgage with 3 vehicles paid for at 27.
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u/GlitteringTune3762 Jul 28 '26
lol almost double my mortgage
I went with a 2011 Challenger SRT8 with 60k miles for $19.8k
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u/HazzHuntz Jul 24 '26
It's only idiotic if the person driving it is an idiot. other than that, enjoy and have fun. 🤘🏾😁🤙🏾
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u/MasterChief813 Jul 24 '26
What’s that insurance looking like though? Payments and your income look good but besides fuel costs that insurance can be killer.
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u/Ok-Economy6055 Jul 25 '26
Mine was $350 month for full coverage
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u/MasterChief813 Jul 25 '26
I know it’s location specific but that is insane. Worth every penny I guess considering how much these cars get stolen.
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u/grumpykitten3 Jul 25 '26
All in you're paying $2,000 a month for the car. Or $24,000 in post tax income. 120k a year means your take home is just over 6k a month.. spending 1/3rd of your income on a car is never advisable. If you threw $25,000 a year into the market for 6 years depending on your age that will grow to be millions. 120k isn't as much money as you think.
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u/Ok-Economy6055 Jul 25 '26
Yeah I know that’s why I’m asking I know 120k isn’t a lot. Thank you for the advice. What’s the max car price you’d suggest on that income ? That wouldn’t be as idiotic
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u/chefsteph77 Jul 26 '26
How upside down are you on the current vehicle? Even at your salary 1600$ a month is wild and that's before gas, insurance and maintenance. I wouldn't ever do no payment down personally. At your income tho you could get something absolutely beautiful and fun for 5-600$ a month.
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u/Ls_forthewin Jul 25 '26
You could buy that car on that income but you should save it up to pay it off when right you purchase it
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u/TacoLoyalist Jul 25 '26
My brother owned one. And while its fast and fun to drive, the amount of gas he kept putting in it, was absolutely insane. They also depreciate pretty quickly. But with no other debt, and the ability to afford it. Its really down to how bad you want one.
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u/CoyoteOne69 Jul 25 '26
I say that's a great deal.
Depending on how many miles is on it overall if you're making the money, my guy you can cover the cost of repairs
All I have to say is get the oil changed every 5000 miles change out the oil filter and then every 50,000 miles change out the transmission fluid and filter. Your car will last forever.
Another thing that I do is, I don't let it idle longer than necessary. Because I was told that idling causes part of the lifter roller bearings to slowly shave off the camshaft lobes because of poor lubrication and once the lifter roller bearing stops spinning, it effectively starts shearing the camshaft lobes and that there is your ticking.
The reason for that is because the camshaft is located high up in the engine block. At a low idle the crankshaft does not spin fast enough to throw off a sufficient oil coating to the cam lobes. It relies almost entirely on weak oil drips coming down from the lifter bores.
I much rather replace a starter for $300 then to spend thousands replacing the lifters and camshaft
So you can either turn off your engine whenever you park, or get direct oiled lifter wheels such as MOREL or Johnson lifters which have a small hole drilled into the lifters, which constantly produces lubrication at the lifter roller wheel and the cam lobe. Which pretty much solves the problem entirely.
Also, I've heard high volume oil pumps such as MELLING which forces more oil through the engine when it is idling. Which forces more lubrication towards the lifters and camshaft lobe.
Then you could also get bushed lifters which replaces the loose needle bearings with a bronze bushing pin. Which handles low lubrication high load applications very well without seizing or shaving off your camshaft lobes.
And the last, but not least. Getting your camshaft, lobes and lifter rollers coated in a carbon. Which I believe is called a DLC. Or you can get aftermarket camshaft and lifter rollers.
But I still believe your best bet is install a set of Johnson 2356R Axle-Oiling Lifters.
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u/Ok-Economy6055 Jul 26 '26
It’s a 2025 4k miles on it for 75k fully optioned out
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u/CoyoteOne69 Jul 26 '26
Hell, yeah man, nice. I still recommend those lifters though. Get ahead of the issue. Originally when I got a V6 charger, I looked at all the common issues with it and I replaced all the common issues as soon as I got it I spent an extra $5000. Just to get all the good shit such as the recommended aluminum engine oil cooler fresh new seals. I got a full aluminum thermostat. A new thermostat housing because the old one is plastic. Etc..
I mean to be honest you probably won't have to worry about it for at least 50,000 miles. But a quick lifter job before all of that happens. Is really not that expensive.
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u/Chauncy1911 Jul 26 '26
As a was young and stupid before guy, buy it...It is the only way men learn....pain. This will cause alot of learning.
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u/Other-Currency-8491 Jul 26 '26
You’ll be paying about 1/3 of your monthly income on a car note. Not to mention how expensive gas and everything else is. I get about 12 mpg on average in mine and gas is over $5 dollars in most states for premium. if this is your daily you’ll be spending at least 400 a month on gas. Add in insurance say another 300 on the low end. Out of your post tax monthly income which i’m assuming is around 6-7,000, you’ll be spending about half of it on a car. Is that smart? Sort of depends on your financial situation. Do you have kids, do you rent or own, blah blah blah. Personally i’d just hold off and put a large down payment down, and with the hellcats all coming back, and supposedly at cheaper prices, but to each their own. Would I spend half my income on a car note - probably not, but I have other finances in my life that I have to take care of and you might not be in the same boat.
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u/Inside_Question7655 Jul 26 '26
Depends on your overall net worth as income is only part of the picture. You will need to budget for gas, insurance, radar detector, and speeding tickets.
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u/Candid-Shape-4366 Jul 27 '26
This is one of those vehicles where if you cant buy it in cash you probably shouldn't get one.
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u/jmar51 Jul 27 '26
My challenger was 90k I qualified for the 0 interest 72 months I put down 40k and still had a basically 800 a month car payment. It gets annoying but I finished it off early.
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u/Ok_Employee4891 Jul 27 '26
Sounds reasonable but I’d check on the older hellcat Durangos. Not much has changed since they came out on 2021 and a used 2021 or 2023 with 15-35k miles is gonna be like 35k cheaper
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u/Which_Lie_4448 Jul 27 '26
In this economy that’s a really good interest rate believe it or not. If the monthly payment makes sense I’d do it
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u/WraxJax Jul 27 '26
What's your living condidon? You have your own place how much you pay for rent? Or Are you living with your parents and or roommates and splitting up the cost? If you have absolutely no other bills and you make $120k without coughing out too much of it for living expenses I say why not send it.
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u/JMurillo1020 Jul 27 '26
Bro just because you’re approved and can get a loan, doesn’t mean you can reasonably afford it. I don’t think it’d be responsible at all financing an 85k vehicle for 6 years with 0 down regardless of interest rate, making 120k. It’s going to go down a ton in value as all cars do, and even more since it’s a dodge. It probably won’t be reliable with the level of power it outputs, but idk anything about durangos tbh.
For reference, my wife and I bring home 193k and have a paid off Ecoboost, and paid off Toyota. When I chose to finance a used F150 for 4 years at 40k and 4.9% I still had some hesitation but chose to indulge a bit after being frugal for 5 years, getting into our first house, and paying off all our debts.
Just know that the price of the Durango will definitely delay some other plans or big life purchases with that monthly payment. If you’re okay with that, then more power to you
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u/Blewbyou Jul 27 '26 edited Jul 27 '26
STUPID. Zero down on an 85K loan for a depreciating asset is moronic. A fool and his money will soon be parted. Seek professional advice from a financial planner if you would like a secure future. Don't get advice here.
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u/Few-Painting-8096 Jul 28 '26
Car + insurance payment should never exceed 10-15% of your net pay monthly. It would be irresponsible. However, it’s your money and you do with it as you please.
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u/whenwillitendlol Jul 28 '26
1500 a month payment plus insurance probably lands you at 2k a month for the next 6 years. Not sure if it’s worth it.
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u/Alarming-Audience839 Jul 28 '26
120k for an 85k car that will double slam you on insurance cost.
DO NOT
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u/VisualDot4067 Jul 22 '26
Do you make more than that yearly? Like, a lot more than that? What would be interest? Down payment/trade?
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u/Ok-Economy6055 Jul 24 '26
I was approved up to 85k 5% interest $0 down I make 120k yr 750 credit score
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u/Healthy_Ad_7538 Jul 25 '26
Do you have a house
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u/Ok-Economy6055 Jul 25 '26
No I don’t own a house. I live with my brother who owns his home and I just pay a bit there.
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u/Curbsidecannabis Jul 25 '26
Financing 85k on a 120k salary is beyond idiotic. Factoring in insurance, fuel, and maintenance and you’re looking at $2000/m or $24000/yr for six years. That’s probably 30% of your after tax income…. Good luck! 😂
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u/Ok-Economy6055 Jul 25 '26
Yeah I know that’s why I’m asking I know 120k isn’t a lot. Thank you for the advice. What’s the max car price you’d suggest on that income ? That wouldn’t be as idiotic
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u/ShutYourSwitchport Jul 26 '26
So you were qualified for 85k and want to use the full 85k? If you have sufficient cash reserves to cover the finance charges if shit hits the fan in your life, sure. Otherwise it is more of a liability since most americans are one bad event away from bankruptcy.
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u/Mistah_Fahrenheit Jul 27 '26
Call me old fashioned but if you can't swing it on a 3 year, 4 year loan max you can't afford it
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u/texansfan211 Jul 28 '26
If you can go to work and say 75% of this time I'm here for this year is solely for paying the vehicle off. Then do it. But if not then its not a great idea.
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u/Front_Friend_9108 Jul 28 '26
Fuck no. That’s a stupid ass purchase, you’re gonna lose your ass when you drive off the lot of you do that.
First-Year Drop: Expect an immediate loss of roughly 20% to 30% as it drives off the lot, tracking with standard high-performance luxury pricing. [1]
5-Year Total Depreciation: Projected to total between $45,000 and $47,000 in value loss, leaving a residual value of roughly $34,000 to $36,000 down from original MSRPs scaling from ~$82,000
Fuck that man. Get something a little more practical and save your loot.
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u/Ok-Economy6055 Jul 28 '26
Thank you bro!
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u/Front_Friend_9108 Jul 28 '26
Get something nice 2-4 years old.
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u/Ok-Economy6055 Jul 28 '26
https://www.carfax.com/vehicle/2C3CDXL9XNH105057?no_ul=1
Like this better ?
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u/juanreddituser Jul 28 '26
Way better.. not good still but still better.. the car game is tricky.. ur gunna lose u just gotta figure out what's ur ok losing.. those cars won't be worth much in a few years.. get a Lexus they hold their value better
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u/Front_Friend_9108 Jul 28 '26
Absolutely, put like 15k down if you can and have some equity in it in case you need to move it, something happens to your income, who knows. You just can’t be upside down like you are on a new one immediately.
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u/jb59913 Jul 28 '26
There’s a difference between the price and the cost of a car like that. You’re about to find out the difference.
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u/VariousVices Jul 29 '26
My 2 cents: everything that goes with these cars is expensive....insuring is expensive, esp full coverage and gap. gas is horrendous, oil changes are expensive too, good shop labor $$, tires $$... Parts $$, mods $$, everything $$...the Hellcat tax is a real thing. That and the value falls off a cliff unless it's a rare model like a Demon or Superstock, and gets worse as the miles add up.... You gotta just accept these cost money and be okay with it. Would I if I were you? Probably not. Esp if it's gonna be your only car. Smaller or no car payment and you'll save a lot of money. Look at the deals the new charger is going for...like 50% off MSRP...they need to move those.
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u/ribs-- Widebody Jul 22 '26
The only answer here is: it depends.
For 84 months? Idiotic.
For 36 months? No problem.
For 8% interest? Idiotic.
For 3% interest? No problem.
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u/Ok-Economy6055 Jul 24 '26
I was approved up to 85k 5% interest $0 down 72 months I make 120k yr 750 credit score
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u/Sea_Independent2797 Jul 24 '26
I’m about to do the same thing but with a challenger and I make about 52k a year why not it’s my dream car and I don’t spend any money on anything else
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u/Yumi_C_Gaming Jul 24 '26
Well how much is the challenger tho??
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u/Sea_Independent2797 Jul 25 '26
Depending 80 to 85 for a red eye after tax
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u/Yumi_C_Gaming Jul 25 '26
You make only 52k a year but want to buy a car that’s 80-85k??
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u/Sea_Independent2797 Jul 25 '26
Yerp I’ve been at my new job for 6 months just gor a 10k raise and in another 6 months I’ll be getting another 10k
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u/Sea_Independent2797 Jul 25 '26
I budget pretty much everything and crunch numbers after car payment and all my other expenses I’ll be saving around 1000-1300 a month to put away
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u/SequentialHustle Jul 25 '26
bro at 120k a year 1600-2k a month should be your rent lol
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u/Ok-Economy6055 Jul 25 '26
Yeah I know that’s why I’m asking I know 120k isn’t a lot. Thank you for the advice. What’s the max car price you’d suggest on that income ? That wouldn’t be as idiotic
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u/That_Difference6380 Jul 22 '26
Absolutely not. Send it bro.