2017 Charger Scatpack OR Daytona - Shopping & Need help! ($7700 Negative Equity)

Ask the Hackrs
1

All, I am going to try to provide as much information as possible to try to get as much feedback as I can. I know I am getting bad offers (or so it appears to me), I just want to know how bad and how much better I should be able to do. I’ve had an endless train of negative equity that I am trying to relinquish by leasing this vehicle.

Trading in:
2016 Focus ST
Miles: 8,200
Payoff: $27,719 (Rolled negative in to this)
Appraisals received so far: 18,000, 19,000, and 20,000
Assuming I’ll be rolling in 7,719…

I originally was looking at a 2017 Charger Scatpack (MSRP 43,425ish). I was priced somewhere in the $645/month range with $0 out of pocket, for a 42 month lease. I also received a price of $700/month with $1500 down on a $46,000 MSRP Scatpack. Both seem ridiculous to me, but I don’t even know where to shoot for, with rolling in the negative. I apologize for not having a TON of info on these two quotes…

Since these seemed outrageous I priced out a 2017 Charger R/T Daytona

MSRP: $44,375
EMPLOYEE: $40,502
Holdback: 1298
$1500 total out of pocket
12,000 miles per year
EP, Rebates, & Conquest discount

Price quoted: $597/mo + tax (6% sales tax in Michigan)

I did not receive money factor or residual amounts…

I understand I’m rolling quite a bit of money, but considering there’s $3,250 in rebates, I receive the employee discount, theres $1300 in holdback to give up, and I’m willing to put $1,500 out of pocket… these prices still seem outrageous and aren’t adding up. Much rather would have the Scatpack than the Daytona, but prices for both are crazy.

Can someone give me some advice/input - I’ll try to get any additional info I can on top of this.

2

My advise is to stop rolling over negative equity. Just keep the ST.

3

Appreciate the input, Jon. Obviously I know that seems to be the most “obvious answer”, however the family situation currently will not work with having such a small vehicle, that my wife cannot drive since its a 6 speed manual.

4

(I know I sound like an a$$ but please just think about it)

Look… I really want to be some help you since I was EXACTLY like you when I was younger. I was rolling in negative equity so often because I saw a new shiny vehicle that I desperately wanted (for a couple of months). What I didn’t realize at the time was, I was being a complete a$$hole to my wife by doing that. She made just as much money as I did but always wanted me to be happy so she always agreed.

At one point I was $5,000 upside down on a car and I knew I had to do something financially responsible to be a better husband. I’ve had well over 50 cars by age 30, some of the coolest cars that I would love to have back. Then I found the 2017 Hyundai Elantra Value Edition. I haggled, and researched and haggled some more to get the payment to $88 bucks a month. With my negative equity rolled in, I’m at $215 for 3 years then my negative equity nightmare is over.

Do you think I WANTED a Hyundai Elantra? Hell no I didn’t want this car, but it’s a great family car, low payment and best of all, it’s leading to a brighter future.

You WANTED the ST, you knew it was stick, you knew it was small, you knew your wife couldn’t drive it. Now you WANT a 392 Charger. In a couple of months you will say, it’s terrible in the snow, awful on gas, expensive to insure, blah blah blah. Just stop the cycle now while you can and save your money. I know it’s hard when you can just go out and sign a piece of paper to get what you want… but then you have to actually live with and pay for it.

I know I risk sounding like my parents but wouldn’t you just want to either bite the bullet and pay for the mistakes you’ve made or make the practical decision, find the cheapest lease that fits your perameters ( whether you like the vehicle or not) and once you are ready to turn that lease in, THEN you get what you want?

I’m sorry this whole thing was so long and d!ckish but I ruined a couple years of being comfortable and having the things I wanted and I really don’t want to see you to make the same mistakes I did. I’m just asking, please reconsider your choice of vehicle to something more practical (literally and financially).

5

well… I’m gonna agree with @Raven here. I would say that as much as you dont want to…the best decision would be to find the most effective way to bury that negative equity or its just gonna follow you around. I too made silly mistakes to just drive a nice car and I had some nice ones…but at the end of the day…do what right…even if you dont want to. the Elantra is just an example and I’m sure there are others out there for the low. OK>>>>>rant over.