Ok - I seriously wasn't even dreaming of swapping out the M5, but ran across a killer deal on a left over 2016 Hellcat Charger and damn if I'm not giving it serious thought!!
My M5 is a 2003 Imola red with 102K miles that I bought 5 years ago in showroom condition - it's damn close to still in showroom condition, always garaged and is in good mechanical shape with refreshed CPS / TPS, plugs, etc.
I was planning to keep this another 5 years or so which would take me up over 150K miles - at that point, who knows where the wind might blow - can't think beyond that or even 3 years to be honest in terms of cars!
Couple factors have me considering this right now - first, I picked up a 2016 Camaro SS convertible which is my new weekend sports car / special car. M5 is really just the DD but it is also a very special car to me and I've been very happy driving it the last 5 years. But we are also considering swapping our only other sedan - my wife's Mazda3 for a 328i convertible as she may want to try a convertible. So that leaves the M5 as the only sedan in the mix other than the kids cars which are mostly gone. So M5 becomes the family car. 2 kids in college so it's not like we are shuttling kids around. But looks like one is moving back next year and could potentially have a full house again for some period of time - never know how these things develop. Oldest graduates this year btw.
So not sure I really want the M5 to be the sole family car.
Second thing is I'm about to spend ~$5K on it to upgrade the audio, refresh suspension and re-finish the OEM 65 wheels. Mechanically nothing else to do at this point other than maybe replace O2 sensors as PM - but car runs great and gets very good MPG, so probably nothing needed mechanically currently beyond a suspension refresh. Actually the suspension is pretty good considering the miles - it's been a warm weather and always garaged car and lots of highway miles which helps.
So I ran the numbers, because I like to see how such moves compare financially.
Over 5 years the HC would end up about $12K more $$ assuming equal tire cost and assuming the M5 will depreciate $2K per 10K miles and assuming a baseline cost of $2K / year for repairs / maint all DIY plus the items I am planning in the short term.
That would take the M5 out to 150K miles
For the record, car expenses within a couple $K per year are within the acceptable range for me so not really much of a factor. So I'm going to try and look at this purely on what I would rather drive for the next 5 years, and maybe take some consideration for the time and hassle spent in the repair / maint taking the M5 from 100K to 150K miles.
Sure seems tempting on the surface. at least enough to get me over to the dodge dealer to take a look for myself!
And just to pre-empt the inevitable, no - I won't own both. That makes no sense. I have a truck and a convertible hot rod / sports car and only want / need one sedan in the mix.
It's a shame the Hellcat Charger does not come with 3 pedals like the Challenger. Since it is the same drive train, makes little sense.
As to numbers, I don't think the M5 will depreciate anywhere near that much. Miles play a role, so does condition. OTOH, a new HC (even discounted) would seem to have a bunch more built in depreciation. And if you roll out sooner than 5 years (based on your history here,
), depreciation per year goes up as we both know the early years show the most depreciation. What is the residual on a lease at 3 and 5 years? While the amount will be a little off since it is based on MSRP, which you are not paying, you will get a good feel for what Marchionne and his group think about the subject.
The HC can be a very fun car (as if the SS wasn't fun enough!), but I don't think it is anywhere near as special as the M5. Not sure about build quality, but you can always check CR for stuff like that.
If it were me and I was considering the HC, I would want to spend a day or two driving it where I normally do most of my driving so I know what I would be getting. I know what I would be giving up.
P.S. Pictures for this discussion should be required!
Dinan Stage 3 suspension, SS jet coated headers, ESS SC kit w/ 1 range colder NGK's, 92mm pulley, 440 Big Greens, TTFS alpha N tune for meth, RK plenum plates, Sachs high performance PP and CCC proprietary clutch disc, stock DMFW, open brake ducts, Hamann front splitters, TEC cupholder, U.S.(Euro style) tilt/slide armrest, 6k HID fogs, 6k super white low beams, V1/Stealth1, dual head LI, 2.65 diff w/40% lockup/2x dynamic, compact spare, Euro trailer hitch, Mocal oil cooler, ACS type rear spoiler, Rogue custom SSK and tranny mounts, ST 355 BBK (fronts), BP sway bar brackets, Bluetooth retrofit, Speedhut boost gauge, Dinan TB's and VS, KB BAP, Howerton/HFS-3 Aquamist WI trunk setup.......