Affordable Used Luxury Vehicles
Looking to pick up a high end status symbol of a car at a poor pauper’s price? While most premium model cars are priced out of the range of mere mortals. many depreciate quicker than you’d imagine. This opens up opportunities to grab a bargain on a great used luxury vehicle.
Some brands have really good resale values, brands like Porsche, Honda and Toyota. Others, often models that are designed for abuse like the Toyota FJ or Jeep Wrangler depreciate very quickly. Depreciating faster than any other, are the ones that start high, such as six-figure luxury models. Sometimes you can get them for 60 or 70 percent of their original value. While that still doesn’t make a car cheap, they’re definitely affordable. Here are a few to look for:
The BMW 7 Series is dripping in luxury. Unfortunately it simply doesn’t hold it’s value. Older models from the late 1990’s can be found for as little as $4,000 U.S. even with reasonable mileage.
A Bentley can cost as much as a modest home or condo, however, if you are willing to wait a few years, a car such as the Bentley Arnage can be had for the price of a mid-size sedan.
The Maybach, the most expensive sedan available from Mercedes-Benz are pretty extravagant, running well over $300,000 new, comparable to a Rolls-Royce. Recently, a 2004 model with only 29,000 miles on the odometer was spotted for sale for only $87,000. Still not cheap, but suddenly affordable to a lot more people.
The Cadillac STS-V, a car that can give the BMW M5 a run for it’s money originally sold for around $77,000. A sharp eyed shopper can pick one up for as little as $19,000, a huge discount.
When the 6-litre Phaeton W12 came out, consumers had trouble wrapping their head around the idea of a $95,000 Volkswagen, and the car struggled to catch on. Now, they can be found used with low mileage for a measly $15,000, an incredible steal.
The Mercedes-Benz SL65 AMG is a super powerful and fast car, thanks to it’s twin-turbo V12 engine. In 2005 it sold for $185,000, but it depreciates by about $15,000 per year, bringing this massive car down into the low $40,000 range.
If you think that $15,000 per year is a high rate of depreciation, check out the Aston Martin Rapide. It will lose $160,000 in value over only three years. A three year old model will drop from $250,000 to about $90,000 very quickly. Another Aston Martin vehicle, the DBS Convertible is slated to lose about $170,000 of it’s value over three years, despite it’s reputation as a Bond car.
The Porsche Cayenne Turbo SUV commands a high price at purchase, it’s one of the priciest in it’s class. Sadly for owners, that $90,000 price tag may depreciate to about $20,000 in only a few years, making some used SUV shoppers exceptionally happy.
Probably the best deal for someone looking for an affordable used luxury vehicle, is the Cadillac Escalade. You can pick up a 2004 model for as little as $10,000, about ten percent of it’s original price.
Who says that a luxury vehicle isn’t in the cards? Keep searching for an affordable used luxury vehicle, the results might surprise you!
By Linda Aylesworth – car-news.ca