What to consider before taking that "good deal" on a used luxury car
Summary
Purchasing a used luxury car can be enticing due to rapid depreciation. For instance, a new Mercedes-Benz S 580 4Matic starts around $131,000, highlighting the stark contrast with the average new car price.
Key Insights
Why do used luxury cars depreciate so rapidly, making them seem like a good deal?
Luxury cars like the Mercedes-Benz S 580 4Matic, which starts at around $131,000 new, lose significant value quickly due to high initial costs and rapid depreciation, allowing buyers to acquire premium features at a fraction of the original price compared to average new cars.
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What hidden costs should buyers watch for in used luxury cars beyond the purchase price?
Used luxury cars often require premium fuel, expensive maintenance for complex systems like suspension and infotainment, specialized tires and brakes, and may have high repair costs if neglected, so always review vehicle history reports and service records.