Never a huge success in light of the popularity of the Dodge Dynasty, the Dodge Monaco was discontinued after 1992. As such, the only changes made to the Monaco in 1992 were some new colors.

The 1992 Monaco never quite knew where it fit in. It was a roomy family car, but then so was the Dynasty, which offered two engine options to the Monaco's one 3.0-liter, 15-hp V6. It was ranked in the mid-size category, but was larger and roomier than other cars in this class. Its styling, while it appealed to some owners, never stood out from other Dodge sedans. It was basically a carbon copy of the Eagle Premier, which also was not a big seller.

The Dodge Monaco offered only basic features, such as center and overhead consoles, tinted windows, and reclining bucket seats. The ES was a little sportier, with a touring suspension, leather trim, and power heated mirrors standard. Many options were available on both LE and ES trims. The roominess of the interior is a favorite with 1992 Monaco owners. Most love the kick the engine carries, and how smooth it feels to drive the car. Complaints range from costly parts that are hard to find, poor reliability, and electrical problems.