It’s no secret that luxury vehicles come at a high price tag, but does that mean you should buy a used one instead? Here’s what you need to know.
High-end automobiles offer opulent interiors, advanced technology, robust performance, and stunning exterior design. However, these cars remain firmly out of reach for many buyers, unless they’re purchased used, which can make normally expensive models dramatically cheaper. Unfortunately, the enticing pre-owned price tag can rapidly lose its luster as some drivers realize the staggering maintenance costs that go along with certain used luxury cars.
Expensive replacement parts, higher insurance payments, premium gasoline requirements, and plummeting depreciation make some premium automobiles not worth it for the average buyer. For example, a 2015 BMW 760Li, which originally went for around $141,200 new, comes equipped with a 6.0-liter V12, and a highly refined interior. While eye-watering, the launch price of this BMW is nothing compared to the 20 most expensive cars of all time. However, a 2015 760Li can be purchased used for around $27,000 today.
But, based on the lowest estimate of the repairs, the average cost to fix the 2015 BMW 760Li is just under $1,000, (and that’s using the best-case-scenario figures). BMW among the most expensive luxury brands to upkeep, with an average of $15,991 maintenance cost over 10 years.
