Used Luxury Cars That Seniors Might Regret Buying
Older drivers often seek out used cars for their dependability, lower ownership costs, and appealing sticker prices. However, some previously owned luxury vehicles may not be the best investment. Here is a look at some models that seniors should think twice about purchasing.
Older drivers with the means shouldn’t hesitate to splurge on a used luxury vehicle, but they should be aware of potential pitfalls. Here are a few to keep in mind:
Land Rover Range Rover
Retirees looking for deals on luxury vehicles will likely see Range Rovers selling at a discount. However, according to CarEdge, this high-end ride depreciates fast, retaining less than 42% of its value after five years. The publication cited ongoing technical issues and repeated recalls as reasons for depreciation. CarEdge warned that the maintenance and repair costs will “knock you over.” RepairPal estimated owners spend an average of $1,258 per year maintaining their Range Rovers.
Mercedes-Benz G-Class
On the other end of the depreciation spectrum is the Mercedes-Benz G-Class. CarEdge ranked the G-Class No. 1 on the list of luxury vehicles that hold their resale value. It holds onto 77.81% of its original MSRP after five years. However, while it’s not infamous for mechanic visits like the Range Rover, a good deal on a used model is hard to find. According to CarEdge, this model isn’t for everyone and doesn’t come cheap.
Cadillac XTS
The XTS fits into Cadillac’s tradition of making big, heavy, and expensive luxury vehicles. While it is a luxury vehicle, the drivability might not be so apparent to retirees. The 2013 redesign model – which was discontinued after 2019 – was criticized for its economy-class ride. Consumer Reports called it “jittery,” reporting that it “falls short” of the luxurious DTS flagship it replaced.
The Kelley Blue Book (KBB) fair market value of a 2019 model starts at around $25,000. This might seem like a good deal, but when Car and Driver gave it an underwhelming six out of 10 stars, its review griped that the XTS didn’t offer as much luxury as other comparable models.
Lexus ES 350
In terms of luxury cars that guard their value, CarEdge ranked the Lexus ES 350 second behind only the Mercedes-Benz G-Class. Its five-year residual value is a hefty 71.6%. This makes good deals elusive on the used market — and retirees might be better off looking elsewhere, anyway. Car and Driver gave the 2025 model — part of the seventh generation that launched in 2019 — a middling seven out of 10. The publication said it cites a slow, unengaging ride and poor use of interior space, making the Toyota Camry — which the ES is based on — a wiser, cheaper choice with many of the same features.
According to KBB, the fair market value of a used entry-level 2022 model is just under $39,000 — less than $10,000 off the original MSRP.
