Last Call Dodge Buyers Burned: The Great Muscle Car Flip That Backfired
When Dodge announced its “Last Call” HEMI lineup, dealers and speculators went wild. Buyers rushed to scoop up Challengers, Chargers, and especially the limited-run Demon 170, convinced these cars would skyrocket in value. Markups soared, with some owners paying six figures over MSRP, convinced they were investing in instant classics.
Now, just two years later, the bubble has burst. Cars that were bought as “investments” are selling at massive losses—leaving many speculators with empty wallets and hard lessons learned.
Demon 170: A $100,000 Loss
One of the clearest examples of the Last Call bust involves a Dodge Challenger SRT Demon 170. Purchased new for $234,000, the car was delivered, parked, and left with just 13 miles on the odometer. Two years later, it sold for $139,000—a staggering $95,000 loss.
At the peak of Demon 170 hype, Facebook groups were filled with claims that the car would be worth $500,000 to $1 million within five years. The reality couldn’t be more different. Like the 2018 Dodge Demon, which failed to double or triple in value as many predicted, the 2023 Demon 170 has proven that holding cars for speculation is a gamble most flippers lose.
Hellcat Jailbreaks Selling Below Sticker
It’s not just Demons. The “investment car” fantasy has spread across the Last Call Hellcats too.
- A 2023 Dodge Challenger Hellcat Widebody Jailbreak, equipped with a six-speed manual and rare options, had an MSRP of $97,026. It recently sold for $87,000—well under sticker.
- Another Challenger with under 1,000 miles, MSRP $81,558, sold for just $64,000.
These results are brutal for buyers who paid dealer markups of $20,000–$50,000 over MSRP in 2023. For them, the dream of flipping for profit has turned into a nightmare of negative equity.
Why the Last Call Hype Failed
Dealers and speculators bet on scarcity—but Dodge’s strategy has shifted. The HEMI V8 isn’t gone for good. With Stellantis restructuring fines and emissions penalties, new HEMI-powered vehicles are already being teased for the next model years. TRX, Trackhawk, and even Charger HEMI variants are poised for a comeback.
That makes “Last Call” less of a farewell and more of a pause. Buyers who thought they were holding the “final V8 Mopar” now realize the next wave of HEMI cars will dilute the rarity they banked on.
Don’t Get Burned Again
The lesson is simple: don’t pay over sticker. Dodge CEO Matt McAlear has already confirmed that future allocations will be based on turn-and-earn—dealers who sell fairly will get more cars, while markup-happy dealers will be left with inventory rotting on their lots.
With no looming CAFE fines driving limited production, Dodge has every incentive to build HEMI cars in volume. That means plenty of muscle for everyone—without the need to pay $50,000 over MSRP.
As TK’s Garage has said time and again, patience pays. The people who wait end up saving tens of thousands, while flippers chasing fast money are the ones getting burned.
The Future of HEMI Muscle
Despite the collapse of Last Call hype, Dodge’s performance future looks strong:
- TRX and Trackhawk revivals are being teased.
- A HEMI-powered Charger is rumored to be in testing.
- SRT could deliver more 392s, Hellcats, and even 426 HEMIs in the coming years.
Even whispers of a new Dodge Viper project have surfaced. With so much muscle coming back, speculators betting on “the last HEMI” have clearly overplayed their hand.
Final Word
The Dodge Last Call era is looking less like a golden investment opportunity and more like one last dealer scam—a hype-fueled push to extract as much money as possible before the Hurricane six-cylinder and EV push. Buyers who paid the markups are now sitting on losses of $50,000 to $100,000 or more.
The takeaway couldn’t be clearer: buy the car to drive, not to flip. Dodge will keep building HEMIs, and there will be more chances to own them—without paying inflated prices.
