Will Dodge Charger and Challenger values go up? From Hemi R/T to Scat Pack, Wide Body, Narrow Body, to the Hellcat, be it a Redeye, Jailbreak, Last Call, Special Editions.
How do some cars go up in value? Insurance policies have a huge influence on the valuation and price of collector cars. Hagerty offers some great tools to make informed decisions on a car, interest shown in it, policies signed, and overall value. It, along with other insurers can often dictate how prices grow.
One confusing aspect of Hagerty is why they are promoting aspects against Car Culture, with columnists like Aaron Robinson, a typical “I got mine” type of person, highly partisan in most of this writings. He actively pushes AGAINST classic and collector cars, as if trying to lead Hagerty out of business. He sings the praise of California’s recent ban on gasoline vehicle sales, with no thought to consequences, effects, particularly on poor communities.
Electric vehicles are having serious issues in China, the leading EV market in the world.
However, a good columnist is Colin Comer that writes Hagerty’s valuation articles, tracking interest in new insurance policies for collector cars. He is upfront, and while making mistakes sometimes, he will showcase what cars go against his predictions. Ultimately, he is a numbers guy and a car guy.
This leads to my concern of how a new collector car’s value for insurance will include not just MSRP, but also ADM (mark-up) as well as financing costs over the life of the loan. This naturally increases the valuation of the car. Add to this a huge number of cars, such as the Dodge SRTs being insured, this will have an affect of prices.
Valuation is tracked by the interest shown, in quotes, policies, changes, etc, showcased by the example in the latest Hagerty magazine, how the Ford Excursion and Toyota Land Cruiser have increased in value in the last year.
While most makes and models will have sub models, trim models that may be more desirable, thus more expensive, Dodge with the huge number of trims, special editions will lead to confusion with insurers. This will lead to an increase in value, especially as demand remains high for the Hemi powered cars. Add to this some limitations of the software used by insurers, no doubt this will lead to confusion, which may end up erring on the side of caution, i.e. a higher Agreed Value for the policy.
Hopefully you guys can find your dream Dodge, and while it may be too late for an allocation, there will be 2023 cars on dealership lots. Don’t give up! Stay strong, just like our growing community!
Oil is thicker than blood!
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