New York (CNN/Money) - Which came first, the engine or the car? For the Chrysler 300 and Dodge Magnum, it's definitely the engine.

Chrysler 300C

Both these cars exist for a single reason: to have a Hemi. Both were designed as showcases for DaimlerChrysler's huge Hemi V-8 engine. The tall, boxy front ends on these cars aren't just for show. They need that space so the factory can get that optional 5.7 liter powerplant in there.

That might seem a rather backward approach to designing a car, but the marketing might of the Hemi name seems to be working. The 300C is selling at prices above the manufacturer's suggested retail price, according to data from Kelley Blue Book.

By the end of June, DaimlerChrysler claims to have sold 40,000 Chysler 300s -- about half of which were the Hemi-equipped 300C's -- and to have a total of 93,000 orders for the car, which was introduced in April

So far, the Magnum seems set to follow the 300's apparent success, with 7,000 units sold and 40,000 orders for the car in June, the month it was launched.

The Dodge Charger, another Hemi-powered sedan, is slated for the 2006 model year.

At CNN/Money's request, DaimlerChrysler provided a Chrysler 300C sedan and a Dodge Magnum wagon for several days of test drives around New York City.

From outside, the Chrysler 300C -- looks startlingly regal in this age of low, sleek sedans. Rather than trying to hide its stature, the 300's designers accented it.

"It's very smug, the car carries itself with a lot of pride," said DaimlerChrysler designer Ralph Gilles.

Inside, the top of the otherwise leather-wrapped steering wheel is made from translucent faux tortoise shell. The gauges are shallow silver platters setting off elegant black numbers. At night, they glow a pale blue color.

MONEY on the 300C and Magnum • Back to the (RWD) Future

With the Hemi up front, the serene-looking 300C is startlingly quick. Under easy acceleration, the car's 340 horsepower V-8 engine provides a gently burbling sound as it moves the car effortlessly up to speed.

Especially considering that this roomy sedan has a bigger, more powerful engine, by a fair margin, than a Lincoln Town Car or a Cadillac Deville the 300C handles well. The car doesn't roll around or wallow in turns nor does it nose-dive in hard stops.

There is a price to be paid, though for that kind of performance in a tall car that weighs more than 4,000 pounds. The 300C offers somewhat more road feel than its limo-like interior would suggest. For performance-oriented car buyers, that's no big deal and the very same ride quality in the more business-like Dodge Magnum seemed just fine to me. However, it created a strange psychological dissonance in the surroundings of the 300's cakey interior styling.

The 300C doesn't fit neatly into any existing automotive pigeon hole. DaimlerChrysler is clearly aiming for the gaps with this car, creating something for which a direct comparison is difficult.

Chysler 300C • Base price: $32,370 • Price as tested: $34,425 • Incentive: $1,000 if financed or leased through Chrysler Financial • Engine: 5.7 liter V-8, 340 horsepower • Transmission: Manually shiftable 5-speed automatic • EPA mileage: 25 hwy., 17 city • Est. 4-year depreciation: 40%* *Source: Automotive Lease Guide

It's an American rear-wheel drive V-8, so IntelliChoice recommends you also look at something like a Ford Crown Victoria. But there's a world of difference between this car and a Crown Vic.

Those who are shopping for the 300C are comparing it to cars like the Infiniti G35 and Acura TL, according to data from auto shopping Website CarsDirect.com. Again, the comparison to the 300C is a stretch.

This car falls somewhere between those extremes, with a bit of an SUV's tall road stance mixed in. (Another driver and I -- both of us similarly average in size -- found the only comfortable position for the car's power adjustable seat and steering wheel left us riding high up in the cabin, feeling as if we were driving a truck.)

While 19 percent of buyers are trading in other entry-level luxury cars, about 14 percent are trading in either mid-sized or large SUVs, according to data from the automotive market research firm Power Information Network. The 300C will be available with all-wheel drive in the fall, which may win over more SUV buyers who feel they need the extra traction. The addition of all-wheel drive will push the car's price close to $40,000, though.

If you don't feel the need for rocket-like performance, the 300 is available without the Hemi. The mid-level 3.7 V-6, which produces 90 fewer horses than the Hemi, provided more-than-respectable performance in a Dodge Magnum I tested.

The 300 Limited, a very similar car to the 300C but with the mid-level V-6, can be had for $3,000 less than the C.

The 300C is expected to retain its value fairly well, according to Automotive Lease Guide, a company that sets residual values used to calculate auto lease rates. Since this is an entirely new model, ALG's retained value estimates are based on trends for roughly similar cars and on the performance of past Chrysler models, said Raj Sundaram, president of ALG. The company estimates that the 300C will retain 49 percent of its value over three years and 40 percent over five years.

For those without fancy luxury car aspirations, or who just want more storage space, the Dodge Magnum offers a different take on DaimlerChrysler's Hemi theme

Dodge Magnum

About 85 percent of those considering buying a Magnum are men, according to on-line survey data from Kelley Blue Book's KBB.com Website. That's a more pronounced difference than for the 300C, for which about two-thirds of shoppers are men. In our experience, women were, at best, indifferent to the Magnum's unusual and aggressive looks while men loved it.

The car I tested was the SXT, which comes with a 250 horsepower 3.5 liter V-6. Again, that's 90 horsepower less than the 5.7 liter Hemi in the RT version, but it was still strong enough to have fun with. Had I not tested the Hemi-powered 300C afterwards, I wouldn't have felt I'd missed anything.

Dodge Magnum SXT • Base price: $21,870 • Price as tested: $25,995 • Incentive: $1,000 if financed or leased through Chrysler Financial • Engine: 3.5 liter V-6, 250 horsepower • Transmission: 4-speed automatic • EPA mileage: 27 hwy, 19 city • Est. 4-year depreciation: 34%* *Source: Automotive Lease Guide

In normal driving, the most notable difference was more pronounced gear shifts. That's partly because, in both the Magnum and the 300, V-6 powered cars come with a four-speed, rather than a five-speed, transmission.

In the Magnum, the difference between a base SXT and the Hemi-equipped RT is about $4,000. Thanks to fuel-saving technology, there's little difference between in gas mileage the Hemi and mid-range V-6, though.

If you like the idea of a Hemi-powered sedan but you don't like the country club styling the 300 offers, you might want to wait until next year. The new Dodge Charger, based on the same platform as the 300 and Magnum, will be introduced at the 2005 Detroit Auto Show in January.

The Charger will be a four-door sedan but, said Gilles, it will not be simply a sedan version of the Dodge Magnum. The Charger will be something entirely different, he promised.