we love the magic of depreciation. It lets us buy cars we never could have afforded when they were new, and it makes for some incredibly entertaining window shopping. Heck, just last month, we published a list of 10 400-horsepower cars that we managed to find for less than $10,000.
Were they clean, well-maintained examples with a lengthy service history? Of course not. But when you see a Mercedes-Benz E55 AMG for only $9500, it can be tempting to take a chance on it. After all, everyone deserves to own an AMG at least once in their lives.
But the dark side of depreciation is always going to be maintenance. A BMW 850i is a beautiful thing, but that V12 luxury coupe is going to force you to dip into your savings every few months, even if you do most of the work yourself.
With supercars, it’s even worse. Yes, you can buy a used Aston Martin for the cost of a new Mercedes C-Class. And yes, someone in the market for a new BMW 5 Series could buy a used Lamborghini instead, but getting these cars serviced costs a truly insane amount of money.
Just let the guys from JR Garage explain how much their Ferrari 355 cost over only 1000 miles:
Yep.$38,000. Even if you baby your used exotic and barely drive it, you’ll still have to sell a kidney to keep it running. And half your liver. The Ferrari 355 isn’t unique, either. A few years ago, we spoke to a few automakers about the yearly cost of owning their supercars, and the figures they quoted were mind blowing.
If you ever bought a McLaren F1, for example, you’d be on the hook for $30,000 in maintenance costs. Per. Year. But at least the car is appreciating in value fast enough to still be worth it. Plus, it’s virtually impossible to total one.
And don’t forget about the Bugatti Veyron. No one’s buying one of those thinking it’ll be affordable, but one owner broke down how much it costs to maintain one. Even for a seven-figure car, the prices he quoted were still out of this world.
Don’t let us stop you from window shopping for heavily depreciated luxury and supercars. That’s always going to be fun. Just be careful if you ever decide to take the plunge and buy one. We don’t want anyone going bankrupt because they spent their retirement on a used Ferrari.