Rapid Depreciation
While luxury SUVs mat cost a fortune to begin with, they actually lose value faster than mainstream models. In fact, most models lose around 50% of their initial value after just 4 to 5 years of use. For this reason, many owners end up feeling trapped after purchasing the car, as they will make such a massive loss if they decide to sell.
High Maintenance Costs
Luxury SUVs, despite their high cost, frequently experience a number of technical issues. In fact, most models recommend having the car serviced at least once a year, which adds up quickly in terms of cost. More so, if you need any sort of component replacements, you can expect to pay much more than you would for a regular SUV.
Expensive Insurance Premiums
If you invest in a luxury SUV, you can expect to pay a whole lot more on your insurance premium than you would for a mainstream SUV. This is because luxury models are more attractive to thieves, making break-ins more likely.
Poor Fuel Economy
Luxury SUVs are usually much heavier than standard models, meaning that they are also heavier on fuel. When you pay so much on upfront costs, as well as high insurance premiums, many owners simply can't afford to keep up with the ever-rising costs of owning a luxury vehicle. Fuel prices are also constantly on the rise.
Hidden Ownership Costs
Not only are luxury SUVs expensive to buy, but they are also expensive to own. These vehicles come fitted with premium tires, which are proven to wear out faster than regular tires, meaning that they need to be replaced more often. On top of this, many of these cars require premium fuel, which obviously costs a bit more as well.
Frequent Mechanical Problems
Luxury SUVs often come equipped with extremely complex systems, including drivetrains, turbochargers and hybrid systems. However, while they contribute a lot to the cost of the car, they actually aren't very reliable and are known for needing frequent maintenance. They also cost a lot more to repair or replace than standard components.
Fragile Electronics
Luxury SUVs come equipped with a whole bunch of fancy features, such as digital dashboards and advanced driver-assist systems. While these may look good, they are also prone to technical and electrical issues. Many owners complain about frequent software bugs and the cost of subsequent replacements.
Over-Engineered Suspensions
While adaptive air suspension does offer additional comfort, it is also notorious for leaks and failures. In fact, many engineers recommend against buying cars with air suspension for this particular reason. What's worse, a single axle replacement can cost upwards of $5000, only adding to the ever-rising costs of owning a luxury SUV.
Not as Durable as Standard SUVs
Generally speaking, luxury SUVs aren't as durable as standard models, despite the higher cost. Many owners invest in the car, expecting long-term reliability, and end up incredibly disappointed. Generally, you will have to spend a fotune on repairs and maintenance to keep it on the road for longer than a few years.
Underwhelming Off-Road Ability
While many luxury SUVs are marketed as off-road friendly, this simply isn't the case for most of them. In fact, they are designed for city prestige, with their off-road systems being more about image than capability. Many owners are promised off-road durability and end up disappointed with the product.
Limited Cargo Space
Luxury SUVs usually feature sloped rooflines and thir-row seats, making for a limited cargo space area. In fact, mid-size non-luxury SUVs are knoen for being much more practical, making them the more obvious choice for families and everyday drivers.
Difficult Parking
While some luxury SUVs are larger than their standard counterparts, these large dimensions make parking much more difficult - especially for drivers who live in built-up cities. In fact, urban owners often regret their purchase and decide to trade their car in for a more practical option. Not only are standard SUVs easier to drive, butthey also cost a whole lot less.
Uncomfortable Ride
While you may think that luxury SUVs drive better than standard models, this simply isn't always the case. These cars often come equipped with oversized wheels and sport-tuned suspensions, which can make for a harsh ride - especially on city roads. Comfort is often sacrificed for aesthetics with these type of vehicles.
Poor Visibility
Luxury SUVs feature a number of impractical design choices, mainly for added aesthetics. This often includes thicker roof panels and a smaller windscreen, ultimately affecting the the driver's visibility. On of the biggest complaints from owners is the fact that they don't feel as safe driving, as they simply can't see as much.
Not Family-Friendly
Despite luxury SUVs being larger than standard options, they often don't suit family needs and wants. As a result of the slanted roof styling, third-row seats tend to be incredibly cramped and sometimes completely useless. Cargo space is also very limited, making the car impractical for everyday driving.
Fading Prestige
Over time, the 'status symbol' of a luxury vehicle starts to fade. While driver's may initially be excited about the purchase, they soon realize just how expensive it is to own such a car, leaving them with more regret than anything else. More so, these cars don't offer anything special compared to top-of-the-range standard models - other than a few cosmetic additions.
Buyer's Remorse
Many people admit that they only invest in luxury vehicles for the image - not practicality. However, over time, the novelty of owning such a car starts to wear off, leaving them with regret. Wiith that being said, the novelty of owning any vehicle eventually starts to fade, but luxury cars simply don't have the comfort and practicality to back them up.
Mismatched With Lifestyle
While many luxury vehicles are advertised as practical, this simply isn't true in many cases. After a while, owners start to realize that they don't need such large vehicles, leading to a high trade-in rate. SUVs are usually bought for everyday driving, which doesn't justify such high-tech and expensive features.
Stress of Ownership
Owning such an expensive car means a lot more stress for the driver. A single scratch can end up slashing the resale value by a few thousand dollars. More so, luxury SUVs attract unwanted attention from criminals, making them even more stressful to drive.
Better Alternatives Exist
In many cases, non-luxury SUVs deliver more satisfaction at a lower cost. Because of this, many owners end up regretting their purchase and trading their luxury vehicle in for something a little bit more practical.
