Picture this you are in 2005 you see a brand-new Luxury car in the dealership or on road. She looks apart her black paint just sparkling and those wheels you are in love, Story changes when you see the price tag which is in thousands or hundreds of thousands of dollars. You can not afford this car or even make payments. So, you get in your trusty old car and drive away.
Fast forward to present day you come across an ad of an old luxury car from that era and look at the prices it’s a fraction to what the sticker price was back in 2005. Now you have money and you want to buy and full fill your dream of owning that car. Nostalgia hits you hard and your decision-making power is reduced to peanuts. But should you buy this car? Well the answer is NO!
You will see many offers on the internet like best used luxury cars, best used luxury cars under 20000, most reliable luxury cars, used luxury cars for sale, best used luxury cars under 10000.
Lets be rational old luxury cars loose their values way faster then any other car, most of them are loaded with features and more features means more of them will go wrong, sorting them out will be a pain, more the features more things will be broken on that car, some people who are driven by nostalgia buy these cars and there is hardly a successful love story even the most sorted of these cars have issues to drive the new owner crazy.
For example, if you buy an old luxury car for 6000$ there is a high probability you will need to spend same amount or even more than what actually car is worth. Yes, car enthusiasts will make them running again by any cost but will you put your savings to danger the answer is NO! again.
That’s why most of them end in scrap yard which are unsavable and being a luxury car a simple job on a let’s say a Toyota Corolla will cost way less than on a luxury brand as you need a specialist shop to work on that car and even if it gets sorted just a matter of time it will go wrong again
Remember why the last owner sold it? Just to get rid of this money pit. So, it is not wise to buy an old luxury car it may workout in some cases but mostly a broke and heart broken new owner is saying good bye to luxury car on a junk yard and driving back his boring old reliable car.