Market Spotlight

Infernal Interest: Dodge Challenger SRT Hellcats are slowly on the rise

by Conner Golden
24 March 2023 3 min read
Photo by Dodge

Like most things Hellcat-adjacent, my first memory of in-person Hellcattery is visceral. I was a summer intern at a major car rag and followed a cluster of coworkers power-walking toward the back lot, all excitedly jabbering about a new press car that just landed. The sun glinting off the then-new 2015 Dodge Challenger SRT Hellcat tester in verdant Sublime Pearl was greener than a kale smoothie. The jaded crowd was unusually effusive; 707 hp! Can you believe it? Will Ford respond? Will Dodge add more power?

Then, right there and then, a consensus:

These are going to be a million bucks someday.

2016 Dodge Challenger SRT Hellcat | Dodge

“Someday” has yet to arrive—the only seven-figure Hellcat we’ve seen thus far is the $1.65 million charity sale of the first production example back in 2014. The Hagerty Price Guide shows most iterations of the supercharged Challenger might have further to drop before appreciation takes the reins. Yet as the Challenger and Charger Hellcats rush down the straight toward their expiration date, slated for the end of 2023, we thought it only appropriate to check in on their collectibility.

Let’s start with the standard O.G. “narrowbody” 2015 Challenger SRT Hellcat. 707 hp isn’t enough to escape depreciation, with the essential Hellcat experiencing a 7.5% drop in value since 2018—examples in Condition #2 (Excellent) trade for an average of $54,600. However, Dodge’s continued confirmation of the Hellcat’s looming discontinuation might have turned the tide, as it’s up 10% since last January. The story is similar for the 2018 Challenger SRT Hellcat and the thicc-nasty 2018 Hellcat Widebody—down overall but showing a boost since 2022. Mind you, a great many used cars have appreciated in recent months amidst widespread inflation, so it’s too early to tell whether Hellcats are marching upward for good.

Things are different for the mighty and limited-production 2018 Challenger SRT Demon, the dragstrip weapon which Hagerty contributor Don Sherman called "your first tongue kiss, plunge off a diving board, and tequila shot rolled into one." After a brief drop, it bounced right back up and today is worth 4.6% more than in early 2018. Said appreciation has accelerated quicker than for other Hellcats, to the tune of an 18% jump when compared with values in January 2022.

At the other end of the spectrum, even normally aspirated, non-Hellcat Challys are up, albeit only marginally. The 2014 Challenger SRT8—the final model year before the major lineup-wide refresh that bequeathed the Hellcats—is up 8.3% since 2018 and is now worth around $36,400 average. Even the standard-issue 5.7-liter 2014 Challenger R/T has gained slightly, worth some 1.2% more since 2018. Here it's particularly important to keep in mind inflation: The current $24,800 average value of a 2014 Challenger R/T has the same buying power as $20,640 in 2018.

Given the messiness of parsing inflation from appreciation, it's perhaps more instructive to measure interest than values. Calls to our insurance center—often an expression of a model's popularity and a leading indicator of appreciation—hint that Hellcats are on a lot of enthusiasts' minds. Hagerty fielded 20% more calls about them last year than during the year prior.

What’s driving this? The obvious answer is probably the right one: The Hellcat is going away, a fact Dodge hasn't exactly tried to keep secret. It has been hawking a series of Last Call cars—a run capped with the new 1,025-hp SRT Demon 170. Those who might not be able to afford a new one or score a dealer allotment may be looking for the next best thing.

2023 Dodge Challenger SRT Demon 170
The 1,025 horsepower 2023 Dodge Challenger SRT Demon 170 | Dodge

How this bodes for the Hellcat's long-term collectibility, we can only speculate. As owners of 1976 Cadillac Eldorado convertibles and 2002 Chevrolet Camaros can attest, "last of" cars don't automatically fetch big bucks. There will almost certainly be more fast Dodges—the Charger Daytona EV concept gives us hope there—and there have been loud rumors that that the next generation will also be offered with gas engines, namely the turbo "Hurricane" inline-six that is slowly but surely supplanting the Hemi V-8 across the Stellantis lineup.

And yet this really does feel like an end of something, doesn't it? The unapologetically brash Hellcats scratch a car culture itch in a way that little else will. It's also safe to say that there are plenty of people who lusted after but couldn't afford Hellcats when they were new who will, as these things tend to go, make more money as they get older. The uptick in interest we're observing right now is being led by Gen–Xers, but somewhere out there are a bunch of Gen–Zers who have worshipped Hellcats their entire childhood. (Yes, there are Gen–Zers who like cars.)

A combination of increasing demand and fixed supply is a solid recipe for appreciation. Whether or when that reaches "a million bucks" as my colleagues predicted all those years ago is anyone's guess, but hey, it wouldn't be the first time.

2018 Dodge Challenger SRT Demon | Dodge


  • Gary Bechtold says:

    These will appreciate but it is still an existing model so the appreciation isn’t going to happen just yet. We will see how many survive their first or second owners. The ones in good condition will definitely go up.

  • Dave B says:

    Any thoughts on the Charger / Durango variants? will they still depreciate a bit before turning upward or will they not follow the Challenger at all?

  • Billy Buick says:

    Will the Challenger Scat Packs also increase in Value?

  • paul s murray says:

    At first, yea probably. Even with the ‘you gotta be kidding me!’ added special dealer fee to those who get them, they’ll be buyers jumping on them. How long will that last? Even with the nostalgia of octane how long until all the torque on demand next generation electrics start nosing past them? When will we hear that inside sources close to Fiat hint of a new Challenger. One of the reasons this gen Challenger seems to be popular is because as I frequently hear “it looks like the old one.” A lot of current , if not the majority of, Challenger owners wanted a 440 in their youth. Now with the kids gone and cake in the bank why not spend some of the grand kids inheritance. But it is kind of a factory restomod. So I don’t understand how you can really have the same personal relationship with this kind of car that goes to the dealer for service as the one you get out the wrenches for. Unfortunately most of the last of the batch won’t be getting mandatory rollbars and Hoosiers stuffed under them.That’s my line of thinking, which means as an investment, values will probably skyrocket.

  • pdmracing says:

    As an OG Demon owner who raced it from its first 100 miles , I can attest its the last of the breed , a hard car to make it perform as advertised, I felt like a development engineer for SRT as It launched the rear end on its 20th pass. I bought my car @ MSRP with the allocation being mad with the stipulation on racing it . Now that they released another Demon, (after promising never to make another) I said oh well my warranty is up & lets buy one as they offered matching vins to original owners. My order was accepted and then the call at only $100k over sticker. What a way to treat a MOPAR loyalist , yet YouTube & Insta “influencers ” got them for free or MSRP. what a scam. Dodge used to allocate cars based on your points standings, not how you act like an idiot on social media. After 2 Vipers, 8 SRT products & at least 10 Jeeps & trucks. The Viper I’ll keep , teh Demon may be on teh block, a new C8 will do nicely

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