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Dodge Charger Residual Value Is Strong

June 2, 2005

An influential long-term vehicle analysis publication is enthusiastic about the residual value of the new Dodge Charger. Automotive Lease Guide (ALG) forecasts that the 2006 Charger will be worth 47 percent of its sticker price, on average, after 36 months—a percentage that is higher than, or on a par with, the Charger's chief competitors. Many of the cars with which the Charger initially will compete are 2005 models. The 2005 Ford Five Hundred has a projected 36-month residual value of 45 percent. Another domestic competitor, the 2005 Chevrolet Impala, is projected to hold 36 percent of its sticker price after 36 months. And the Charger's resale-value percentage is virtually the same as that of the 2005 Nissan Maxima (48 percent) and the 2005 Toyota Avalon (49 percent). A higher residual value for the Charger means lower monthly lease payments for customers because lessees can finance a smaller portion of the total price.A high resale value also is likely to enhance the Chrysler Group's efforts to bring sticker prices closer to transaction prices. The publication noted that the Charger is built on the same rear-wheel-drive platform as the Chrysler 300 and Dodge Magnum. Resale prices of used 2005 Chrysler 300 cars are running higher than expected at 50 percent after 36 months. Chrysler Group spokesman Kevin McCormick said the company's internal projection of the 2006 Charger's residual value is "slightly better" than Automotive Lease Guide's estimate. (Automotive News)
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