There is no “correct” location as the new Challenger originally never came with them…until the “Classic” was offered by Dodge. I mounted mine behind the wheel a few inches below the body seam. I used this location because I needed to breakup some of the black and felt this looked the best.
The main piece of advice I would give you, is to be very careful when you are getting ready to apply the emblem to the fender as the tape will actually pull the emblem towards the fender as you get close. So make sure you are straight, as there is no second chance once it’s on! Using a grease pencil and or tape is your best bet for applying the emblem straight. Just take your time…..