Are luxury cars money pits?
Are luxury cars money pits? Luxury Cars are Money Pits And for good reason. Because this is when you can expect multiple high-cost repairs to start kicking in that---even if bought at a much lower than new car price---can still greatly exceed a used car's true value. In other words…a Money Pit.
What are disadvantages of luxurious car?
Cons of owning a luxury car
- Price premium - You may pay for the name as well as extra features.
- Depreciation - New luxury cars are more expensive so their depreciation is more marked. ...
- Higher maintenance costs - It usually costs more to look after and service a luxury car.