Will 2020s V8 Dodge Chargers And Challengers Become Collectible?
Today, the modern Dodge Charger and Dodge Challenger as we've known them have been discontinued or replaced, which might leave one wondering: did these cars have what it takes to be future collector's items? We spoke to James Hewitt, the Operations Manager of Valuation services at Hagerty, to get a better understanding and answer some common questions about these two Canadian-built rides from Dodge.
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Dodge
Like many automakers, Dodge evolved from being a machine shop that supplied parts and assemblies in the early 1900s to a fully-fledged automaker. The Dodge brothers started building cars in 1914 under the 'Dodge Brothers' brand - the company was sold to Chrysler in 1928, originally producing trucks, full-sized passenger cars and compact cars. These days, the brand is known for performance cars like the iconic Charger and Challenger, sold under the Stellantis banner.
A Bit Of Background
The Dodge Charger hit the road for the first time in 1966, followed by the first Dodge Challenger a few years later in 1970. With classic styling cues helping connect their roots to the muscle-car era (and plenty of V8 power under the hood), the Charger and Challenger drew together enthusiast communities and earned a place in pop culture along the way. Each was eventually discontinued for years, before each nameplate made a comeback in the mid-2000s. Back then, big sedans were still pretty popular, and the Charger was one of the biggest sedans around.
1969 Dodge Charger (6)
After several updates, facelifts, and high-performing model variants, Dodge fine-tuned its formula with more refinement, luxury, and tech for the Charger. This big, comfortable, and durable sedan sold a lot of copies–including to police departments across the continent.
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For years, the Charger was Dodge’s big and roomy sedan, but with a mean streak added in the form of ballistic high-performance V8 versions.
The Dodge Challenger was the two-door option here – a muscular, comfortable coupe with adult-friendly rear seats and a ride that was surprisingly relaxed on the highway. Both the Charger and Challenger could be fitted with all manner of high-powered V8 engine (and even a manual transmission on certain Challenger models), should the standard V6 engine and automatic transmission be insufficient. Modern cars have evolved too - is it enough for them to be considered classics in the future?
1970 Dodge Challenger (1)
In this feature, we're focusing on the last generation of Dodge Charger and Dodge Challenger. Expert opinions have been developed in discussion with James Hewitt, the Operations Manager of Valuation services at Hagerty.
The Mentality Behind The Market In 2025
Dodge Challenger SRT Hellcat Red Rear Angle Burnout
We asked Hewitt to help set the stage and explain if, and why, these machines might one day turn out to be collectibles. Let's start with today, where a ‘zero miles is gold’ mentality is having a major effect on where things are right now.
“Whether values go up or down in the near or far future, the Dodge Challenger is instantly collectible,” explains Hewitt. “Challengers rode a wave of new car appreciation during COVID, the model ending, and a number of special editions raising the hype of future collectability."
"Of the modern Challengers which came to auction (online or live) since 2024, a staggering 43% have less than 100 miles on the odometer - more than double the number with 100-1000 miles, and more than twice as many cars with less than 100 miles came up for auction than ones with 10,000+ miles. So, there’s an extreme 'do not drive it, keep the plastic on the seats, it will sell for more' attitude of instant collectability. Drivers aren’t even enjoying the cars during their ownership or risking putting 50 miles on, because so many other owners are not driving theirs, and driving yours could would send it to the bottom of the pecking order of collectability. We are in an era of ‘zero miles is gold’, and buyers and sellers are forcing the game."
- James Hewitt, Operations Manager of Valuation Services, Hagerty
According to Hewitt, the average change in value of a V8 Challenger between Jan 2022 and Jan 2023 was 8%, with Hellcats rising 10% and Demons 18%. "Just one year later, the average change from Jan 2023 to Jan 2024 was -1%. From Jan 2024 to Jan 2025 it cooled even more, and the average change in value was -5% with those same Demons dropping 10% and the Hellcats 6%," adds Hewitt.
Hagerty reports that they’re now returning to their normal depreciation curve, with examples of repeat sales with a much lower price for the same car. In the case of one example, a Dodge Demon that sold for $118,000 last May, and again for under $97,000 earlier this winter, less than a year later. According to this report from Hagerty last summer, Dodge Challenger SRT Hellcat values are settling, with average sales prices dropping nearly 10 percent between February and July 2024. Many earlier units average just 732 miles per year, meaning a lot of Hellcats got parked when new.
"Some major differences between the new Challenger and old when it comes to collectability is that there are a number of buyers buying a car new because they hope and pray it becomes more valuable so they can sell it. This means there are a lot of 10-mile Challengers out there.” Hewitt explains.
What About The Dodge Charger?
2023 Dodge Charger 3
“We see far fewer modern Chargers at collector auctions and coming to insurance policies, and since 2024 there have been 13 Challengers at auction for every 1 Charger,” explains Hewitt.
"Sixth-gen Chargers also did not see the same big ramp up then fall of values during COVID, instead they dropped 10% between 2021 and 2022 and have seen steady gains of about 5% per year since, a time when the Challenger was doing the opposite. This type of value fluctuation is uncommon for mass-produced modern cars and many buyers are making speculative purchases for special editions or final years of production."
There Can Always Be Surprises
2007 Toyota Land Cruiser
It’s often the cars we don’t expect that see the most room for appreciation as consumer tastes change. “For example, a 25k-mile 2007 Toyota Land Cruiser will sell for triple an 'average' version and be one of the best in the world," says Hewitt. "No one in 2007 was packing their Land Cruiser away with the plastic on to flip to the next buyer. Whereas a 25k-mile Hellcat? That’s average or even high mileage."
What does this mean? Simply put, there's no specific list of things that will definitely make a vehicle collectible (or not) one day.
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“There are clubs filled with enthusiasts for nearly every possible combination of car out there, from Model Ts to ‘50s Continentals to 1980s Ferraris, modern 911s, and modern Challengers,” explains Hewitt.
"Each of these has a different reason for being 'collected,' though, and some are 'collected' only to try to make money as long as there is another person in line to buy it. Model Ts are not fast, not rare, and not fashionable. They didn’t come in cool colors. They are historical and a museum staple. They aren’t nearly as valuable. ‘50s Continentals are not fast but are fashionable and represent one of the most expensive vehicles of the era. ‘80s Ferraris are a cultural icon and a poster car for many. Many aren’t rare but they’re cool. These are valuable. Modern 911s aren’t rare, but people are paying 25% over MSRP to get their hands on one. They’re being flipped for 50% over MSRP. Modern Challengers aren’t rare.”
Still, one thing fairly common to collectible vehicles is a great set of cool colors, and that’s a factor that connects the new Challenger with the original, and so many other modern collectible cars, including the Porsche 911.
A Supply And Demand Yo-Yo
Dodge Demon 170
It’s important to note a sort of supply-and-demand yo-yo effect that’s pushing and pulling resale values around. According to Hewitt, what buyers are willing to pay for a car is influenced, in part, by what other buyers before you are paying for the same thing. He goes on to explain:
“That principle is why auctions can bring the highest prices. Every time you’re outbid, you feel validated that the price you’re paying is also one someone else will pay, so you bid more. This is also what can trigger big public value run-ups on cars that are often traded privately or have historically not seen as high of values. When someone else is paying $30k over the MSRP for a Dodge Demon you feel okay paying it at your dealership too. When Bring a Trailer is pulling big money for brand new Hellcats, you feel validated and pay that too. When that slows, or when repeat sales prices are dropping, the market quickly drops out. Now, buyers slowly pay less and less until an equilibrium is reached. Eventually, the perceived value is strong enough for the buyers who were initially priced out to re-enter the market.”
Too Common To Be Collectible?
2017 Dodge Charger SXT AWD
I asked Hewitt whether the high sales volume of mainstream models affects the collectibility of holy-grail models like the Hellcat and Demon. I was surprised by the answer: it’s actually helpful.
“This aids in collectability in some cases, because more people will have had opportunities to know of the car, experience it, or have memories of it. Any level of demand helps boost demand for the ‘holy-grail’ models. It is very, very unlikely that a holy-grail model would be collectible and the lower models not be. There will always be a trickle down and a trickle up."
There's one thing that this era of Charger and Challengers have going for them, though, and that is the Hemi V8 found at the top of both lineups. Whereas lesser models are V6-equipped, it's the eight-cylinder option that will likely add to otherwise middling collectability of 2000s era Chargers and Challengers.
2023 Dodge Durango RT Black and White Front Angle
As we know, most automakers are in the process of killing off the mighty V8 - environmental concerns, efficiency prioritization, and the advent of hybrid power all being cited as reasons - which makes the last remaining cars packing V8 power so much more desirable. The Dodge Durango is the last of the brand's performance cars still hanging on to the engine, while the Charger is going all-electric in Daytona form, while an inline-six will do duty in ICE cars of the future.
So, if you do happen to have a V8 powered Charger or Challenger on hand - and one of those with all the bells and whistles - you may just have a future collector's item on your hands.
