Why You Should Think Twice Before Buying A Cheap Used Luxury Car

High-end automobiles offer opulent interiors, advanced technology, robust performance, and stunning exterior design. However, these cars remain firmly out of reach for many buyers, unless they're purchased used, which can make normally expensive models dramatically cheaper. Unfortunately, the enticing pre-owned price tag can rapidly lose its luster as some drivers realize the staggering maintenance costs that go along with certain used luxury cars.

Expensive replacement parts, higher insurance payments, premium gasoline requirements, and plummeting depreciation make some premium automobiles not worth it for the average buyer. For example, a 2015 BMW 760Li, which originally went for around $141,200 new, comes equipped with a 6.0-liter V12, and a highly refined interior. While eye-watering, the launch price of this BMW is nothing compared to the 20 most expensive cars of all time. However, a 2015 760Li can be purchased used for around $27,000 today.

But, based on the lowest estimate of the repairs, the average cost to fix the 2015 BMW 760Li is just under $1,000, (and that's using the best-case-scenario figures). BMW among the most expensive luxury brands to upkeep, with an average of $15,991 maintenance cost over 10 years. It gets worse, with Money Geek listing the typical annual insurance rate for the BMW 7 Series at approximately 82% more costly than the national average for full coverage. The 2015 BMW 760Li also requires premium grade fuel, which in the state of California is just under $5 on average a gallon at the time of writing.

No, there are certainly cases where a used high-end vehicle might be a good choice, provided you know what you're getting into. There are also some models that might be a safer option over others, like these luxury cars that are cheap to maintain. In fact, an upper-tier used car that's a few years old, has already undergone its initial dive in depreciation, but still feels relatively new.

Take for instance a 2021 BMW 3 Series, which offers brawny options under the hood, nimble maneuverability, and strong safety ratings. Brand new, this compact sedan could go anywhere from $42,245 up to $57,695, but on the used market can be had for as low as $17,000. While it might not be as lavish as the aforementioned 760Li, you're still getting a BMW luxury car experience at a more manageable price, and an average yearly maintenance (BMW 330i) of only $748.

While you might not have the same prestige-exuding exterior badging or as many onlookers giving your vehicle a second glance, there are plenty of advantages to a more economical car. While you can find some deals on used luxury model's, a brand-new Kia for example, will have no miles, more warranty coverage, and potentially offer more cutting-edge technology features, than an older model. As an example, you can find used 2023 Audi A3s with just under 20,000 miles, and multiple owners priced below $30,000. Now contrast that with a 2026 Kia K5 GT-Line AWD, with turbocharged engine, 19-inch alloy wheels, panoramic sunroof, and a 10-year 100,000-mile warranty, starting at $29,990. We got a chance to take this car for a spin with our 2025 Kia K5 GT review, and found it affordable as well as fun.

This comparison isn't to say that the K5 is superior to the used Audi, it's just to highlight the amount of value available with alternative options. However, it all comes down to personal preference and what you value in terms of your driving experience. With premium used models, you'll likely find higher-quality finishes, a more refined ride, and it's good conversation starter with other automobile enthusiasts. Just bear in mind the potential for greater costs going forward if you opt for pre-owned luxury.