These Luxury Vehicles Drop in Price Like a Hot Potato
Are you an enthusiast of modern, luxury cars? If so, you probably believe nothing could go wrong with owning a vehicle newly designed and produced - but you’d be wrong! Continue reading to unearth 15 luxury cars with the worst resale value ever.
Land Rover Range Rover
Brace yourself to lose a significant amount of money if you decide to buy a Range Rover, whether it is new or old. Sure, if you have deep pockets and don’t mind overspending on your car, go for it! You should be aware, though, that it will lose a lot of value over time.
Maserati Levante
If you own a Maserati Levante, I hate to break it to you, but you should expect a depreciation of 74% after five years of ownership. Do you know what that means? Well, if you bought the car new at $162,912, then it’ll be worth an eye-watering $42,162 after that time!
Tesla Model S
Considering how poorly most electric cars hold their value over time, the Tesla Model S does exceptionally well for an alternative fuel vehicle. On the downside, Tesla loses a ton of value quickly, as shown by its 71% depreciation after 5 years. Ouch!
INFINITI QX80
The INFINITI QX80 is evidence that luxury does not always age well… Unless you count a decline in value as good, that is (we don’t). It sheds a whopping 69% of its value after five years, leaving you with a $31,841 reminder that luxury is not always permanent!
Jaguar I-PACE
Despite being electric, the Jaguar I-PACE loses value faster than a sack of bricks thrown from a building. It's down 67% after five years, leaving you with $24,419 worth of Jaguar and the thought, "Perhaps I should have leased it instead."
Alfa Romeo Giulia
Purchasing an Alfa Romeo Giulia is a double-edged sword - it might look brilliant, but it has its cons. Five years down the line, its value can drop to just $17,418. This 67% decline demonstrates that having Italian flair doesn’t always equate to having financial judgment.
Maserati Ghibli
If you buy this car new with its $152,620 price tag, the Maserati Ghibli will leave you with just $51,372 in your pockets five years down the road - a 66% depreciation that is more dramatic than the ending of a soap opera. Alternatively, if you wish to avoid this $100,000 loss, you could buy a 2-year-old model for $84,704.
Jaguar F-PACE
Up until you take a look at your wallet, five years with a Jaguar F-PACE might seem like a fashionable adventure. It drops to $29,045 from a high of $83,558, losing 65% of its value, which might come as a shock to most of you, considering it’s a Jaguar!
Land Rover Range Rover Sport
The Range Rover Sport is more of a low-cost chariot, despite its appearance that suggests it belongs in a royal escort. The luxurious car boasts a vanishing act (of your money), as it loses 64% of its worth from a magnificent $147,088 to $52,260 in half a decade. Wow.
Cadillac Escalade ESV
The Cadillac Escalade ESV has dropped to $52,647, a 62% reduction from its initial $139,795 price tag. That’s comparable to purchasing champagne but being left with a case of beer, is it not? But if you have a heavy bank account, then go for it!
INFINITI QX55
Five years into ownership, the INFINITI QX55 turns wallets upside down, which is saying quite a lot, unfortunately. It makes a costly leap from a starting price of $57,992 to a resale value of only $21,962, a 62% decrease. That’s going to hurt!
Land Rover Discovery
The Land Rover Discovery lives up to its name - you’ll discover just how fast $75,800 can shrink. After five years, it’s worth only $29,122, a 62% nosedive. It’s the kind of depreciation that makes hiking look like the financially safer option.
Tesla Model Y
Despite its futuristic look, the Tesla Model Y's resale value feels locked in reverse. It decreases by 60% after just half a decade, from a beginning price of $51,213 to merely $20,424. We guess a part of its innovative design is magic tricks that make dollars vanish!
BMW X7
With a price tag of $135,475 and all the swagger you would expect from this brand, the BMW X7 joins the premium SUV market. Five years into owning this car, however, it has dropped to $55,030; a 59% depreciation that is more of an ultimate money disappearing act rather than an ultimate driving machine.
Genesis Electrified G80
After five years, the Genesis Electrified G80 will push you into a financial fade-out, despite its whispering elegance and electric charm. Unfortunately, everything isn’t sunshine and rainbows with this vehicle! It loses 59% of its value, dropping from $76,225 to $31,504, after just a few years. Sigh.
