2 New Luxury Cars That May Not Be Worth the Expensive Upkeep
Luxury cars, by their very nature, come with a hefty price tag. The average luxury car now costs around $75,000, and many easily exceed six figures. Factor in taxes, maintenance, repairs, depreciation, and potential financing charges, and the total cost can soar well beyond the initial sticker price.
Sometimes, the concept of spending over $20,000 on a car may seem excessive. However, for some, spending $100,000 is perfectly acceptable, even with the potentially high upkeep costs.
If you’re considering buying a luxury car this year, here are some options to consider and which might not be worth the upkeep:
Maserati Grecale
Joe Giranda, a car expert and director of sales and marketing at CFR Classic, suggests that the Maserati Grecale might not justify its cost. This luxury SUV, priced around $75,000, can feel “underwhelming for the cost.”
“While it carries the prestigious Maserati badge, its interior quality and tech features don’t measure up to competitors like the Porsche Macan,” Giranda explained. “For a similar price, you can get more refined craftsmanship and technology elsewhere.”
Maseratis are also known for costly maintenance. According to ConsumerAffairs, the average annual cost of preventative maintenance alone is about $1,600, versus approximately $650 for the average vehicle, including maintenance and repairs.
Mercedes-Benz EQS SUV
The Mercedes-Benz EQS SUV is a luxurious vehicle boasting a futuristic design and an impressive electric range of approximately 305 miles. However, with a base price around $105,000, Giranda believes it falls short of its rivals in terms of interior material quality and overall value.
“At this price, there are other luxury EVs that deliver better value,” he commented.
While this electric SUV is relatively new, Mercedes-Benz vehicles often incur high upkeep expenses. Some models can cost about $14,175 in the first ten years of service, which is roughly $1,100 more than comparable luxury brands.
2 Luxury Cars That Might Be Worth the Upkeep
While the Maserati Grecale and Mercedes-Benz EQS SUV might not be the best choices for long-term value, Giranda suggests these vehicles may be worth the investment:
-
Genesis GV80: “Genesis has built a reputation for blending luxury with practicality, making it an excellent choice,” Giranda noted. This SUV includes advanced technology, a sleek design and high-quality materials, with a starting price of around $57,000.
-
Lexus LC 500: With a starting price of around $99,000, the Lexus LC 500 presents a more expensive option. However, the vehicle offers an attractive design and a luxurious driving experience. Lexus is also lauded for its reliability, which can reduce the frequency of auto shop visits.
Tips for Choosing the Best Luxury Car
Ultimately, the best luxury car for you will depend on your individual needs, expectations, and financial circumstances.
Here are some tips to help simplify your search:
-
Do your research: Compare different luxury cars, examining features, prices, and available options.
-
Set a price point and a budget: Stick to your budget and factor in all associated expenses.
-
Test drive cars: Experience vehicles first-hand by test driving them to make an informed decision.
-
Compare dealerships: Explore a variety of dealerships to find the ideal fit, considering incentives and promotions.
