If you have been talking to your friends and family about buying a luxury car, then you may have been confronted with some common myths. Before you decide that buying a used luxury car is a mistake, consider the realities behind the myths. Learn the truth about which luxury cars you can depend on, maintain affordably, operate safely, repair inexpensively, and power with regular gasoline.
Myth #1: Luxury Cars Are Not Reliable
Many people think that luxury cars should only be driven on special occasions as they do not make good cars to drive on a regular basis. The truth is that car manufacturers build luxury cars to be as reliable as daily drivers. J.D. Power has done a study on vehicles that are the most dependable over the last three years, ranking the most dependable options. The study found that Lexus made the most reliable cars, closely followed by Porsche and Kia.
When the study looked at individual cars, they found that the most reliable was the Porsche 911, which was the most dependable car compared to every other car on the market, regardless of price point. They also rated this car as having the best driving experience, quality, and resale value.
J.D. Power also determined that the most dependable vehicles by category were:
- Compact premium car – Lexus ES
- Midsize premium car – Genesis G80
- Small premium car – BMW 2 Series
- SUVs – Porsche Macan and the Mercedes-Benz GLA
Myth #2: Luxury Cars Are Much More Expensive to Maintain
Luxury cars are indeed more expensive to maintain than standard automobiles. The difference, however, is about $100 a year. Meanwhile, you are riding in a comfortable car that is turning heads everywhere that you go. Some luxury cars are much cheaper to maintain than others, so if you want to find the cheapest consider the following:
Myth #3: Luxury Cars Are Not Safer Than Other Cars
Generally, luxury cars have more safety features built into them than other automobiles, so this makes them some of the safest vehicles on the road. These vehicles are also typically engineered to be more structurally sound. They often have safety features that non-luxury cars do not have unless a premium package has been added.
The Insurance Institute for Highway Safety (IIHS) chose 11 luxury cars as their top safety picks in 2019, and these often make great used luxury cars to buy. They include:
- Audi A6 because of its Audi Pre-Sense Front auto-braking system
- BMW 3 Series when equipped with Active Guard or Active Driving Assistant Professional auto-braking systems
- BMW 5 Series equipped with LED projector-type headlights
- Genesis G70 because of its Forward Collision-Avoidance Assist with Pedestrian Detection
- Genesis G80 equipped with curve-adaptive LEDs with auto high beams
- Genesis G90 because of its Automatic Emergency Braking system
- Lexus ES 350, when equipped with Premium Triple-Beam, LED Headlamps Package and Pedestrian Pre-Collision System
- Lincoln Continental that has Pre-Collision Assist with Pedestrian Protection auto-braking system
- Mercedes-Benz C-Class Sedan when equipped with either the Active Brake Assist system and optional Active Brake Assist with Cross-Traffic Function
- Mercedes-Benz E-Class Sedan equipped with ED projector-style headlights and Active Brake Assist system
- Tesla Model 3 when equipped with Automatic Emergency Braking system
Myth #4: Depreciation Is Higher in Luxury Cars
Almost all cars are going to depreciate over time. There are some, however, that depreciate faster than others. The great news for some used luxury car buyers is that quality luxury automobiles often hold their value as well or better than other vehicles. Kelley Blue Book released a study on brands that hold their value the best over a five-year period. The winners are:
- Lexus – While Kelley Blue Book named Lexus the top brand for resale value, they especially cited the Lexus LS 500 because of the number of buyers who are willing to pay for a gas-powered used model.
- Audi – Kelley Blue Book named Audi the runner-up, and they cited the Audi A7 as a great example of a vehicle that depreciates very slowly.
- Porsche – Buyers are always ready to secure a top vehicle, and Kelley Blue Book, which named the Porsche Macan and the Porsche Cayenne as top vehicles in their category, says this will be no exception.
- BMW – According to Motor Trend, you can expect the BMW X4 to retain at least 51% of its value.
- Mercedes-Benz – Motor Trend says that they expect the GLC to retain at least 50.7% of its value.
- Audi – Motor Trend is especially keen on the Audi Q5 retaining at least 50% of its value.
- Tesla – While the resale value of electric cars is often poor, the Model S has depreciated by only 36.3% because of its excellent range.
Myth #5: Luxury Car Parts Are Expensive
While you may find a few parts that are specific to particular automobiles, many of them use regular car parts. Some specialized repair shops may charge you more. You have the right to take the car where you want and buy the parts wherever you desire.
Myth #6: All Luxury Cars are Made Overseas
If you prefer to drive an American car, then you are in luck because many of them are built in the United States and Canada or use parts made in the United States and Canada. Examples include:
- Mercedes-Benz GLE – This class of vehicles, including the GLE350, is built in Tuscaloosa, AL, using motors made in America and German transmissions.
- Chrysler 300 – About 67% of the parts used by workers in Brampton, Ontario, Canada, are made in the United States or Canada.
- Honda Odyssey – About 70% of the parts used by workers in Lincoln, AL, to build the Honda Odyssey come from the United States or Canada, including the transmission, which is made in Tallapoosa, GA.
- Jeep Cherokee – This vehicle is assembled in Belvidere, IL, and uses about 70% US- and Canadian-made parts.
- Chevrolet Corvette – Chevy chooses to build this vehicle in Bowling Green, KY, using about 72% American- and Canadian-made parts.
Myth #7: All Gas-Powered Luxury Cars Require Premium Gasoline
While many luxury cars require premium gasoline to make their high-combustion engines work properly, there are many models that operate on regular gasoline, including:
- 2014 Buick Lacrosse
- 2013 Cadillac ATS equipped with a 2.5-liter 4-cylinder or the 3.6-liter V-6 engine
- 2014 Lincoln MKZ with a 3.6-liter V-6 engine
- 2015 Lexus ES350
Now that you know the facts, you can decide if a luxury car is right for you.