Easterns Blog

The Dodge Challenger is an American muscle car that captures the spirit of high-performance driving with its powerful engines and bold design. If you’re someone who is thinking about purchasing this iconic vehicle, it’s a good idea to research the full scope of ownership costs. Ancillary expenses like insurance, fuel, maintenance, repairs and depreciation play a role in the ultimate cost as well as the long-term value of your Dodge Challenger purchase.

Initial Purchase Price of the Dodge Challenger

For a muscle car, the Dodge Challenger is surprisingly affordable, with a starting MSRP for a new Dodge Challenger of about $33,000. The higher-performance trims that offer the larger V8s are much more expensive, with purchase prices exceeding $70,000.

Insurance Costs

Insurance costs for a Dodge Challenger can vary widely. Younger drivers or those with a history of traffic violations typically pay higher premiums due to the increased risk they represent. Location is another crucial factor, as urban areas like Baltimore and Washington D.C. often have higher rates because of the greater likelihood of accidents and theft.

The specific model and trim of the Challenger also impact the insurance cost, with higher-performance models generally costing more to insure due to their increased power, higher replacement costs and the greater likelihood of drivers making use of the extra power to speed or drive recklessly. It’s not uncommon for drivers to pay between $1,200 and $2,000 in insurance premiums every year, or between $6,000 and $10,000 over five years.

Fuel Costs

The Dodge Challenger, particularly the V8 models, is not known for fuel efficiency. As with most vehicles, there’s a tradeoff between exhilarating performance and fuel costs.

• Average Annual Mileage: 12,000 miles
• Average Fuel Price: $3.50 per gallon
• Fuel Economy: 16 MPG (city) / 25 MPG (highway) for the Challenger R/T

The average Dodge Challenger driver uses about 585 gallons of fuel a year. At $3.50 a gallon, that’s about $2,050 annually, or $10,250 over five years. Fuel prices do vary dramatically from place to place, month to month and year to year. The actual price you’ll pay for fuel every year will vary based on the price and how much you drive.

Maintenance and Repairs

Maintaining a high-performance car like the Dodge Challenger can be expensive, especially as the vehicle ages. Dodge offers a three-year/36,000-mile basic warranty and a five-year/60,000-mile powertrain warranty, but costs can rise after these periods.

• Average Annual Maintenance Cost: $800 – $1,200
• Average Annual Repair Cost: $300 – $500 (post-warranty)

Maintenance and Repair Cost Calculation:

• First Three Years: $1,000 per year (maintenance) = $3,000
• Years Four and Five: $1,000 (maintenance) + $400 (repairs) per year = $2,800
• Total Maintenance and Repair Costs Over Five Years: $5,800 – $7,000

Depreciation

Depreciation means what you paid for a new Dodge Challenger is not the price you can get if you chose to sell it after five years. Challengers actually are slightly more resilient, often losing only about 12 percent of their value in the first year and only about 30 percent after five years. This is a stark contrast to the average vehicle that depreciates about 20 percent in its first year and up to 50 percent by five years.

Benefits of Buying a Pre-Owned Dodge Challenger at Easterns Automotive

If you’re considering buying a Dodge Challenger, opting for a pre-owned vehicle from Easterns Automotive Group can offer several advantages over buying a new one. Not every pre-owned Dodge Challenger is equal, and there’s a big difference between a thoroughly inspected and well-maintained Challenger and a hard-driven Challenger that wasn’t properly cared for. When you buy from Easterns Automotive, you’re getting: 

• Quality Assurance: All pre-owned vehicles undergo rigorous inspections to ensure they meet high-quality standards.
• Lower Prices: Pre-owned vehicles generally have a lower purchase price, offering excellent value.
• Wide Selection: With a variety of trims and model years available, buyers can find the perfect Challenger to fit their budget and preferences.
• Exclusive Policies: Enjoy a seven-day return policy and a 30-day/1,000-mile warranty for added peace of mind.

We Believe in High-Quality Pre-Owned Vehicles at Easterns Automotive

If you’re in the market for a pre-owned Dodge Challenger in Virginia, Maryland or Washington D.C., Easterns Automotive has got you covered. We believe that your job is your credit, making financing a pre-owned car accessible for everyone.

Browse our online inventory or give us a call at (877) 927-5004 to start shopping for your Dodge Challenger today.