Start digging in your sofa cushions, Dodge officially announced pricing on the 2015 Dodge Challenger SRT Hellcat at $59,995. While that may seem like a lot of money to some, we think it’s quite a bargain for 707 hp and 650 lb-ft of torque. Individual options haven’t been priced yet, but we think the SRT Hellcat will be quite a value for what you get.

At $59,995, the SRT Hellcat Challenger is more expensive than a Ford Mustang Shelby GT500 or the Chevrolet Camaro ZL1. However, it does come in cheaper than the $75,000 track-focused Camaro Z/28. The Hellcat is also significantly cheaper than cars like the Lamborghini Aventador, which the Hellcat makes more power than.

The Challenger will be in showrooms shortly, and we’ll be brining you our exclusive first drive videos and reviews in the coming days. Stay tuned for more Challenger news!

Chad Kirchner is a freelance automotive journalist with a sincere passion for the industry and helping people. He’s a member of the Midwest Automotive Media Association and the Texas Auto Writers Association. When not writing about the latest automotive news or vehicles, you can catch him at car shows around the country. Be sure to check him out on social media, including Google+ and Twitter.