In this video I share recent information I've learned about when it comes to financing Dodge and Stellantis cars. Follow me on Instagram, Tiktok, and Facebook at OCMotivator Wharton article: knowledge.wharton.upenn.edu/a...
Got clarification today.most Banks and credit unions are saying the cars are over 12 to 18 months old so they are cutting the amount they will pay on MSRP. Navy Federal will not go over 80% of sticker for any car manufactured before May of 2023, and 75% or less for any 2023 models manufactured in 2022.
@@speedfiend925 This is normal practice, and has been for the 18+ years I have been in the industry. March is typically the cutoff for left over vehicles to be considered as a new vehicle for financing purposes. At this point, they are financing and booking them out as used vehicles. Dealers sitting on scat packs and hellcats are royally screwed because there is only an average of $1400 - $1600 markup on these cars and ZERO incentives from Stellantis on anything beyond an R/T.
This seems like common sense to me.. it’s what I’ve been doing in negotiations with dealers. I’m supposed to take the 30% depreciation of the first 2 years that this car sat on a lot? I don’t think so. Dodge deserves everything that is coming to them.
TK is right. I Tried to buy a 2023 challenger hellcat narrow body. Capital one would only go 80 percent of msrp, I have a 743 score and no debt. The only lenders that would do full MSRP were sub prime with over 12 percent interest. This is sad. I went and bought a mustang smh. Ford at least will work with the price these dodge dealers won't. Love what you tk and Butter do
It’s not sad, the banks are finally doing the smart thing and preventing risk when people aren’t smart. Nobody should buy a car at msrp let alone above msrp. Sad the dodge dealers aren’t being smart and bringing the price down.
Yep this is the truth. We went to get my daughter a durango srt and the bank wouldn't fiance over 60% of the msrp. They said these cars and trucks are no longer new. I went to 5 banks all the same. Only the Santanders of the world would take it at 16 percent that's insane. I'll pass. You and TK are right
Scott is 100% correct. I’m 58. In the 70’s we were told about the evils of global cooling. A little more background. Terrible blizzards in the late 70’s, so, to the uninformed, must be global cooling. I told my dad about the cooling planet. His response - “that’s a load of bullsh*t. Mark my words, they’ll be crying about global warming by the time you grow up”. He was on point.
Tim is not the issue it’s the CEO of Stellantis and prices are up across the board for all manufactures not just dodge. Do you people even read your comments before you post lol
@devonp5079 , don't forget to thank the NWO for shutting the world down in 2020, the Liberal Governors who shut their states down, causing the insane Inflation, and Bye-Don and his EPA is shutting the Hemi down.
A car that lasts 20,30,40,50 plus years on the road had such a minimal carbon footprint if maintained properly vs an ev that can be written off over a dent in the battery,… can we even recycle these batteries effectively yet? Where do they go?
I’m no EV fan but from what I’ve read, most EV batteries can be refurbished for industrial, charge station, or in-home battery storage (Tesla has been putting them in their “Tesla Wall”). For batteries that are at end-of-life, the lithium, cobalt, and nickel are extracted and can be reused in the production of new battery cells (they do this frequently for phone and laptop batteries as well). With that said, I’ll trust an internal combustion-based vehicle over EV any day of the week. The low range, high up-front cost and repair cost are reasons enough to stay away.
EV's will have their place in the future, just not right now with the pollution and cost of making the enormous heavy battery packs. Every gas/electric station will need 15 minute of 80% charge times as well, fleet vehicles can't wait around 30+ minutes to put in
Don’t forget the moonroof for 9k and the matte black hood and trunk for 6k. And they will throw in some paddle shifters for free 😉but the metal gas and brake pedals gonna cost extra though
I've also seen where the insurance rates are much higher and that's for insurance companies that are willing to even ensure EVs which are becoming fewer because the insurance companies essentially take a loss especially on these Teslas that have been seen catching on fire. The insurance companies aren't getting any money back so as a result more insurance companies do not even want to have EVs on any of their policies. These cars are an absolute joke..
Remember. According to Stellantis, Alpha is their crown jewel; the make that sells a fraction of what Dodge sells. Say goodbye to Mopar. They’re letting it die on purpose. Hope you like the Hornet cause rebadged Alphas is our future from them. That and foreign made Rams. Yay……
Buy used, people. Save your money. It’s just a car, tons of slightly used dream machines for sale by people desperate for cash. Don’t feed these dealers and banks who just got done reaming us.
Brother it is literally cheaper to go new (depending on rebates and negotiation) vs Used. Used is a raw deal because the cost saving is no longer there unless I opt for a vehicle with high mileage and even then its over priced.
@@GoogleDoesEvil Well, no one is paying me and reality is in the mind of the beholder. You seem to have a different reality in your mind than I do. Good day. :)
I agree.... Everything you mentioned is exactly why I bought a used 2021 Chevy Blazer RS, with only 21,000 miles on it. I wanted the reliability of the Naturally Aspirated 6cyl that's cheap to work on and has been around for many years. It's considered to be one of the best engines chevy has ever produced. I like how smooth it runs. I did not want to hassle with the 4cyl turbo. Gas mileage is great (30mpg highway). I will drive it for many years. I simply paid cash for it, so no hassles with the greedy banks.
14:34 Your video is spot on. Remember I said I was happy I bought a 2022 SP @ 5.5 % , I knew everything was going to change , and history always repeats itself. Now people are saying some insurance companies will no longer insure v8 dodges. 8:19
You may not been born yet, but in the cities, especially California smog wa like it is in India. You could wake up in the morning couldn't see the buildings. Believe it or not pollution affects our health, look at our ocean, we put so much chemicals and trash in. You can barely eat tuna, because it has mercury in it. Regulations do go too far, but some regulations are need.
Two black 170's went back to back at Barrett jackson last week.the first one sold for 150 and the one after had 5000 miles and went for under 100.90 i think.
Brad, Love the videos, how much of this is because of the government fines that Dodge has to pay the government? Dodge is passing these on to the initial buyer and the then the free market is taking over and discounting that cost as soon as the car leaves the lot. What do you think? Ken
I just bought a Charger RT two weeks ago. $48k MSRP, paid just under $34k OTD. Went with Stellantis financing at 8.01%, and yes tier 1 credit, because got an additional $1000 off to finance through dealer. Even though had better rate through Navy Federal. With trade, reasonable down payment, financed appropriately $25k. Can still refi the loan, but point is you can find and make a good deal if you’re not too emotional about it. Would I love to have gotten a Scat Pack or Hellcat? Sure, but just makes a lot less financial sense. Will pay the thing off in a year or two, and have much more flexibility at that point. Still, finance manager talked to me like I was an idiot for not buying a single thing they proposed in their usual finance office dance.
@@Therealclayton I didn’t even try. I didn’t go in for that trim, didn’t attempt to even pursue it. I negotiated 95% of the deal before I even went to the dealership. I had to have them look at my trade in in person, confirmed what I said it was and the condition. Had to submit credit app in person to solidify rate, etc. in the end, the scat pack is/was about $8k difference, and hellcat obviously much more. So just kept to what I was doing
@@Therealclayton the dealer I bought from has scat packs around $42k-$43k. So I think that’s current a good deal. However, my wife will also need a new vehicle at some point in the next year or two. It has to be an SUV essentially, and I won’t have $100k of car notes to pay. Not a financial limitation, rather personal choice.
Just bought a wide body Scat Pack with an MSRP of $62,280 for $45,955 without any add-ons. Only tax and title. Could have purchased a narrow body Hell Cat with an MSRP of $83,000 for $ 63,000 but I couldn't see paying for HP that I would never use and I liked the look of the wide body much better. Plus insurance was much more expensive. Dealers in South Florida are way over stocked and willing to deal if you stand firm and walkout a few times. Arrigo Dodge in WPB, Florida and Arrigo Dodge in Sawgrass have the best deals right now.
8.6PERCENT for my brand new 23 wb for $55,221 out the door no mark ups. I came from a 22percent interest rate with my 2014 rt back in 2020 which is now paid off and I've been up grading myself and working on my credit and I'm glad I made a great purchase for my last car last call lol.
Um...I had to start on this whole EV prep when I was a chevy tech in 2000. Yes we were getting prepped 20 frggn years ago. It's feasable if you have the infrastructure but even the tech isn't there yet. We don't have 25,000 chargers per state and if we did, we would need more coal plants to serve those chargers to charge those EV's... I have never seen an ICE vehicle spontaneously explode... I have seen it happen to three EV's personally first hand...
@ 15:20 that was the smartest & best suggestion I've heard all damn day. Hold onto what you got, Pay it off as early as possible and just enjoy it!!! Way too many ppl are trying to keep up with the Jonses, keep getting bored with the new shit they already overpaid for, gotta have the latest n greatest and just throw money around like its candy at a kids party. I guess I'm old fashioned, I buy shit and prefer to keep it and get my money's worth. Ppl just love to stay in unnecessary debt forever & that's exactly what all these companies & banks want! Ppl used to buy new cars with the intent of keeping them for years then passing them down to relatives. Cars aren't meant to be disposed of & rapidly replaced as the most previously released iPhone. I'll keep my old outdated Supercharged 6.2 Hemi forever and enjoy it even more after I pay the bank off and have no more payments then do all the mods I really want, maybe Demon? or /Hellephant swap ??. I look forward to reaching 100k or 200k miles and beyond on all my cars. They can keep all that new disposable nonsense and I'll just enjoy mine and focus on building & improving 1/4 mile times with $0 monthly payments!
So who are the 3 or 4 best Dodge Dealers to contact regarding wanting to find a WideBody Low Mileage Challenger in the color of Hellraison??? Would like a Redeye or a Hellcat. It must be automatic and a non smoker.
na , going to sell off my Hellcat , im sick of what Dodge has done to the image of the brand. Im going Toyota , I have a 2008 solid as a rock never has given me issues . Going to get a new truck .
I may be mistaken, but am speculating the 'credits' cost once bought from Tesla are and have been being added to the Charger and Challenger the past few years for various reasons. No agreeing with the practice, just saying possible 'double-dipping'? Great channel by the way!
Excellent information. Wow ! the car market looks bad for a couple of years ( at least for the higher end). Im a Mustang guy, but have always appreciated the raw muscle found in the Hellcat wide bodys and Dodge's fan following. It's amazing sorry to say this but it looks like Dodge and Tesla may be dead. How ironic extreme muscle (Dodge) and most popular EV ( Tesla ) maybe struggling for existence. Great video, will see you at Cars and Coffee.
I wish i told my sister in law to back out of her deal but didnt know about it. She got her father a 2021 gmc sierra and the payment is $1210! Not counting insurance i only suspect one thing will happen. Oh well. Screwed her credit for her father...
Im so confused by the EV plan. Tesla’s most popular model is a modestly priced sedan (w/tax credit). The other makers have told us A)sedans don’t sell and B) went upmarket in pricing. Then you add Stellantis making a coupe (also told us they don’t sell) their big introduction to EVs. The whole thing is contradictory.
A couple of years ago, the Dodge brothers saw how much money people were making buying and re-selling cars like Hellcats and the TRX. I think they decided that was money they were losing. Why should their customers get to profit on those vehicles?
I do enjoy the content of this channel. I have an EV and I have a Mustang GT. While I appreciate your viewpoint on the environment, you and I are not climatologists. If one searches the internet, they can find whatever answer their keyboard wishes to receive. All one has to do, beyond listening to reputable scientists, is see the melting of the ice caps and water rising. Based on the world's climate cycle, we should be cooling off, and not warming up. Beyond those tidbits, please continue to put our top-notch automobile content 🙂.
After watching this, I feel like I won the lottery. Bought my challenger scat pack at the very end of 21 off the showroom floor. Zero interest for 72. Nothing down. Got it for MSRP at like 40k or something. AND they gave me 10k more than I owed on my ram at the time which was a 2013!!
I bought a 36" Sony Trinitron WEGA in 2006 and it finally died on Dec 27, 2023. Got my money's worth with that one. However, it used cathode ray tubes and heavy, thick glass; the length of the tv (from front to back) was close to 4 feet -- think of the long computer monitors that were used in the 90s. And it weighed 220 pounds. I had to recruit a strong friend to help haul it out of the house and borrow a pickup truck to get it to the recycling depot.
Vehicle leases aren’t as affected as vehicle finances. Leases usually come from a dealers internal bank. Leases also only apply on brand new vehicles. Financing depreciated Dodge hemi products is what the banks are saying no to because they know that the MSRP has been inflated, there is a markup on the car and on top of that the cars have been sitting on the lot for a while. Then there is the fact that they know that these cars are highly stolen and vandalized. Neither bank nor insurance companies want anything to do with them. For the people who think that they’re just going to wait for Dodge to/prices and somehow be able to walk out with a brand new HELLCAT for $50,000. These people are going to be in for a long wait!
Anddddd on top of the constant innovation in batteries and range, adoption of the NACS standard port will make a newer version of the same car be much more desirable.
One thing I have consistently noticed about EVs. Their ride when encountering imperfect roads is HORRIBLE. It almost feels like they have no give in the suspension due to the central location of the batteries so in order to protect them the suspension is too stiff as a result. I got an Uber ride in a Chevy Bolt and the ride was very similar to Teslas I have ridden in also via Uber.
The HyundaiEV is complete junk .. I have a friend who owns a dealership and several of these have had battery failures . Even under warranty the cost of replacement was more than the cars worth so they totaled the cars and the insurance company won’t pay full value of the loan sticking the customers with the balance of the depreciation.. Avoid these cars at all cost..
I own outright a Dr. Dre addition 2012 Black top V6 Charger with a factory installed Hellcat interior delivered to Germany from Canada with no speed limit governor built for the German Autobahn. I'm not worried at all about the resale value of my Charger and plan to drive this car as my last car. I feel for people trying to buy new Chargers and Challengers. The quality is garbage and every 2018 Charger I've looked at has panels on the doors warping, cracked arm rests, roof liners hanging and paint peeling. My car looks like it just rolled off a showroom floor. No way I'd trade in my extremely rare Charger for any newer model.
Dodge aka Stellantis is on its way to the grave. Their failure to meet government mandated fleet mileage goals, paying millions in fines, and a lack of new cars that people want, its all over. I just saw a Jeep Rubicon in the showroom with the 392 Hemi, sticker price of $98,000.00 The rise in prices is due to the fines they are paying to the government. Also buying a used SRT Hellcat, 392 is a huge risk. My last observation is the Challenger and Charger buyers who do not know what a speed limit is, and street racing. racing is for the track, not the streets, a BIG killer of these 2 vehicles. It’s a shame, I had 2 SRT’s and 2 Hellcats. I went back to Corvette, on my 7th one. I still do have my 2017 Jeep SRT which i will keep for a long time and a 2023 Jeep Grand Cherokee Summit. I hope Stellantis doesn’t kill Jeep.
OC- about other things. Listen they are jealous of You. I am Paralyzed and everyone that i know is jealous of me. I have Nothing but a house and they hate me
they already said they will make hellcat durangos for 2025. wouldnt be suprised if it comes back for the next gen charger (maybe new challenger?) after seeing how horrible these ev sales are
@ItsBlurrs hopefully they bring the hemi back with the new gen challenger !! But that’s only if dodge is still alive in a year or two, to be able to create them
I compare today’s EVs to those spiral fluorescent light bulbs that were to replace the incandescent ones. Now, we have LEDs. The battery technology has to greatly improve, before there’s any chance of EVs becoming mainstream.
This is purely a Stellantis issue. They ran up the MSRP and dealers got greedy on a product that was deigned more than a decade ago. You can't compete only on horsepower.
Don't get me wrong, I appreciate dodge for the R/T SRT and hellcat setups (hemi cars) but i will never buy one. I'd rather buy two wrecked ones (one front one rear) and build a foodstamp model (Base or SXT)into a sleeper. Can possibly be done for less than half the cost plus you get a DIY project and spare parts just in case
My opinion. Banks won't finance ev's for a longer term because they assume the battery will fail by the 6 year mark, then the car is worthless. Especially if the replacement is 20g
It’s obvious that you don’t own an EV and you’re speaking from misinformation but batteries are warranted by government law for at least eight years/100,000 miles.
Is it just me or did anybody else get a warm and fuzzy feeling when OC said that the bank would only finance 88% of MSRP.? If you ever needed evidence that you were being gouged by a manufacturer,
Buy a used one! I just picked up a 2017 hellcat challenger automatic with 13,000 miles for 44,000. Why would anybody ever pay 70+? A warranty is not worth 30,000
Do not go Hyundai Ionic. If you get even the smallest dent on the bottom of the vehicle. The manufacturer will recommend a battery replacement. The battery replacement cost more than the vehicle is what I heard. 30-40k. It’s on RU-vid check for yourself.
Tesla has been killing resale on their own vehicles. I looked @ Model X plaids over the summer and they were going for $125k+, Tesla has recently dropped the price to $95k. Imagine taking a $30k hit in just a few months
Emotion truly does give control. They’re playing all the “save the planet” nutcases. This will go down as the most impactful Trojan horse in history, everybody is going to collar themselves and hand over the leash.
Banks don't need to worry about a new technology battery making the old archaic. There is no fast charging lightweight battery on the horizon. Not one suitable for a car.
Why do people actually want to purchase an EV when they cost more than a gas vehicle??? I can't find the site where this person owned an EV said over a 10 year time frame his EV cost so much more that his gas car. Tires wear faster on EV. He could not believe the maintenance cost of his EV and it takes longer to fill than his gas car, insurance is higher just to name a few of the things and chagring on the road cost a lot more than at home
@@Therealclayton thank you brother. Picking mine up this week for $62k. That's the low end with $67k about the highest. Dang I hope I didn't pay too much being the go for about $66k a year ago.
dude ev's are not garbage , just because you do not like them they are not. i own a BMW EV and its the best ev i had , the battery management is superb , i get 390 miles for ev, and i am never worried , i drive all day and i hardly use the miles with the way BMW manages those miles and it regenerates miles, that does not mean i do not like ICE, i got an x4 and i love it. Again both are fine if you like them , my instant TQ on the BMW is awesome. anyhow again just because you hate EV's they are not garbbage and i still like you. lol
I don't know this based on fact, but I'm ASSUMING that lenders are getting burned on repos on Dodge vehicles. And Nissan (which is basically the Dodge of Japan).
This might be the most salient point you have ever made during your intro today. Most people are incapable of logical or independent thought these days.
TK also did a video where floor plan banks are now repoing Dodge cars from dealerships who refuse to move them. Having recently purchased a challenger I dealt with several dealerships unwilling to budge on the over pricing. Imagine being so stubborn they’d rather lose the cars to their banks then discount them enough to where people are willing to buy them.
Europeans buying the Chrysler brand was a big mistake. They say they want dodge, jeep, ram to be luxury cars. They should have left Dodge, Jeep, Ram the same and revived Chrysler as a luxury brand. And done the EV cars in the name of Chrysler. Let the Charger and Challenger the affordable vehicle for your every day dad.
Where did the carbon come from? Nature(trees/plants) and bacteria. How does carbon get recycled? Nature and bacteria. Energy can never be destroyed...only converted.
