2007 Dodge Charger SRT8 Long-Term Road Test - Introduction

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2007 Dodge Charger SRT8 Long-Term Road Test - Introduction

We bought a 2007 Dodge Charger SRT8 as part of the Debt-Free Car Project.

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audikrazy1

This will be interesting. But a few key points from someone going through a similar process. I'm 23, recent college grad. Getting a used car loan would be difficult at this point. I would have a much better chance at getting a loan for a new car. So while this will be interesting for me, i would probably wind up in something like a Subaru BRZ - while its more expensive the financing on a new car will be better and i'll have less worry about maintenance. I'm curious to see what you guys find. But just my opinion.

kirkhilles1

Very neat idea. I DO like the idea of an out-of-warranty vehicle. Too often, it's "complimentary maintenance" or "covered under warranty", so you don't really get what its like to own that vehicle long term. Consumer Reports doesn't have enough data on the 2007, but the 06 was "Average" Reliability, but everything after that is "Fair" except for 2014 which is "Poor", so there might be some interesting issues that come up. I'll look forward to it.

misterfusion

^ Ugh, but it's CR. Engines & transmissions for 2014 were carryovers, weren't they? So it could've ended up "Poor" because a few of their readers had problems with the radio buttons that year.

schen72

Is it really that rare for people not to finance cars? i've owned 4 cars in my lifetime so far, and I've paid for all of them with cash. I just really hate debt. I love having that pink slip in my possession from day one. When I was a new college grad, I just saved up my pennies for about 4 years, and then bought my Acura TL in cash. That was 15 years ago and I still have the car, 260k miles later.

stever

Haven't had a car payment since '82 (and 5 cars), but that's mostly because, like you've done, I drive them forever. It's easy to save up for a new one if you have ten years with that extra cash flow (assuming you don't blow that cash on something else fun, lol). Did payments for 3 years on my first new car out of school. Don't mind debt but ugh.

I'm thinking of downsizing later this year and if the interest rate is really low, I may just finance the new car. And if you really enjoy cars, there are worse things to spend your money on.

kirkhilles1

schen72 said:

Is it really that rare for people not to finance cars? i've owned 4 cars in my lifetime so far, and I've paid for all of them with cash. I just really hate debt. I love having that pink slip in my possession from day one. When I was a new college grad, I just saved up my pennies for about 4 years, and then bought my Acura TL in cash. That was 15 years ago and I still have the car, 260k miles later.

Honestly, I'd personally rather get a 0.9% loan like we did + an extra $750 off and make payments while the car is being used. So, that way you're not just saving for some future vehicle, but are instead paying for something that you're getting good value for. It's a matter of preference, though. It's really the same thing in reality.