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Mercedes S Class (no one seems ot know why they lose value so fast - my guess is they people who buy these kind of cars are not interested in a used one, so there is no used market).
Cadillac Escalade
Tarus
Cobalt, KIA, and Malibu (a good car but no one seems to like it)
Seems like a good way to get a good deal. Choose a used car fomr those that depreciate most. It cannto go down much from $5K or $10 K .
INtersting article. No idea whether the data collection is valid.
I seem to recall that Range Rover had fairly appalling reliability. Mercedes has a reputation for being expensive to service. If what I remember is correct these would be poor prospects for a used car purchase.
I agree with the premise of the article but I think their actual figures are way off!
Quote:
Range Rover
This is a staid, timeless SUV that unfortunately used some very subpar electronics in a few model years. Word spread quickly and that new Range Rover that was purchased for $60,000 can be now had for $5,500.
Cadillac Escalade
As the luxury carmaker tried in earnest to create a luxury SUV, gas prices soared and interest in this gas guzzler died. Carrying a sticker price of over $80,000 new, you can pick up a low-mileage Escalade for less than $30,000 today.
Jaguar S-Type
Although there is nothing inherently wrong with the Jag S, its design looks dated. Originally selling for $60,000, models can be found for around $10,000.
Mercedes-Benz S-Class
Oddly, this model has taken one of the worst beatings in the depreciation department, with the ability to lose more than 80% of its value in five years. Again, it is an old, respected brand and even the experts can't figure out why the value has dropped so significantly.
I agree with the premise of the article but I think their actual figures are way off!
A current-generation Escalade with low mileage CANNOT be had for under $30K. A 2008 or 2009 Escalade with low miles is still above $40K.
A Mercedes S-Class does NOT lose 80% of its value in 5 years. A 2008 S550 does NOT cost $20,000; try about $40K-$45K.
You aren't buying a Range Rover for $5000 unless it's been beat to hell, is a million years old, and is basically a pile of scrap metal.
I really think this article is inventing numbers to support their own claims.
Not so fast:
A 2006 S500 (old body style) is dangerously close to being a 20K car.
5K Range Rover.....My buddy bought a 7 year old Discovery for $6,000 with 65K miles on it, though it did have some surface rust around the roofline. He got it fixed for $500, drove it 3 years and simply changed the oil and got $4500 on trade. We still laugh about that one.....cheapest RR ownership in history!
A 2006 S500 (old body style) is dangerously close to being a 20K car.
5K Range Rover.....My buddy bought a 7 year old Discovery for $6,000 with 65K miles on it, though it did have some surface rust around the roofline. He got it fixed for $500, drove it 3 years and simply changed the oil and got $4500 on trade. We still laugh about that one.....cheapest RR ownership in history!
The article said a "5 year old S-Class" so since the 2013 models are out, a 2008 would be the "5 year" point in which I said you aren't finding an S-Class anywhere near $20K unless it's been badly wrecked.
A Discovery is not a Range Rover, it's a different model made by Land Rover. Every Land Rover isn't a Range Rover which is the premium, top-of-the-line SUV for Land Rover. You aren't finding one for $5K unless it's been badly wrecked.
Location: On the "Left Coast", somewhere in "the Land of Fruits & Nuts"
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BMW's, especially certain models (like the 7 series), also seem to drop pretty quick. But unless they've been thrashed, used Bimmers are usually pretty sound and reasonably reliable machines. Though obviously any repairs ain't gonna be cheap, still, have seldom found 'em that much more expensive to repair than, say, a Toyota. And IMO the used BMW is just a way better value.
BMW's, especially certain models (like the 7 series), also seem to drop pretty quick. But unless they've been thrashed, used Bimmers are usually pretty sound and reasonably reliable machines. Though obviously any repairs ain't gonna be cheap, still, have seldom found 'em that much more expensive to repair than, say, a Toyota. And IMO the used BMW is just a way better value.
A Mercedes S-Class does NOT lose 80% of its value in 5 years. A 2008 S550 does NOT cost $20,000; try about $40K-$45K.
They most certainly can. Look up the S65. It cost $180k new in 2006, you can find some on autotrader right now for under $40k.
The high dollar S class cars depreciate extremely fast, like the S65, SL600, S600, etc. Part of it is because after the factory warranty runs out, they can be very expensive to maintain, and that's common knowledge, so unless you spend a ton of money on an aftermarket warranty (which can run $4-6k for just 2-3 more years) it's almost a guarantee that you'll be spending a lot on maintenance, which kills the resale value.
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