Are Expensive Cars A Waste Of Money?

Is it worth getting a luxury car?

Another major reason shoppers consider luxury cars is that most high-end models offer a supple ride — or at least a better ride than many mainstream cars.

For some shoppers, especially those with back problems or similar health issues, this alone makes the luxury-car price premium worth it..

Should I buy a nice car or save my money?

No, only but a new car because you want it. A new car is almost always the worst investment you make. You will buy high and sell low. What you save in reduced maintenance and fuel economy will not match depreciation when compared to a well cared for car that you already have or a good used car.

What car does Warren Buffett drive?

Cadillac XTSA look at the 2014 Cadillac XTS, the same car Warren Buffett drives. The chairman of the Berkshire Hathaway conglomerate, Buffett is reportedly worth more than $80 billion. When he purchased his previous new car in 2006, he chose a cushy, but not outrageous, Cadillac DTS, priced at about $45,000.

Why are Mercedes so cheap?

Mercedes, like all luxury cars, sell for way below the original msrp because of supply and demand. The people who regularly buy luxury cars generally buy or lease them constantly. So if someone buys a new Mercedes every year thats a used Mercedes coming on the market every year.

Why you should never buy a Mercedes?

There’s a reason why Mercedes Benz have no resale value as they cost a stupid amount of money to repair and maintain. The cheapest Mercedes is the most expensive car to own as they will bankrupt you once something break, break as they do. So If you got money to burn on money pits, go right ahead and buy one.

Which car shall I buy?

Now Ford Figo and Celerio I would suggest to avoid as Ford is very notorious for its service quality in India plus the long term maintenance of Ford vehicles is comparatively high as compared to the Market leaders Maruti (The brand Indians trust more than their spouses) and Hyundai which has established its stature in …

Are luxury cars a waste of money?

Expensive cars lose their market value rapidly and depreciate quickly. This results in you losing your hard earned money. … The positive side of this is that you can get great deals on used luxury cars as their value can drop by as much as 50 per cent in as little as three to four years.

Is owning a Mercedes worth it?

Buying a used Mercedes-Benz will certainly save you a lot of money. It is estimated by experts that on average used cars cost 50 percent less than their new models. … It’s not that the Mercedes-Benz cars are any expensive; they are absolutely the right price for what they offer.

Which Mercedes is best to buy?

Top 10 Mercedes-Benz of all-time1963-1981 S600. … 2010-2015 SLS AMG. … 2003-2010 SLR McLaren. … 1990-1994 500 E. … 2010-present E 63 AMG. … 1979-present G-Glass. … 2010-2015 GLK. … 2014 – present CLA 45 AMG. Mercedes has stiff competition in the entry-level luxury segment however they are leading the pack with the CLA 250 and the high performance CLA 45 AMG.More items…•

Why Buying a car is a bad investment?

Buying a new car in general is a bad investment, and just like most bad investments, it’s driven specifically by emotion. … You don’t have enough money to purchase the car outright, so you decide to take out a loan.

What are the biggest wastes of money?

Top 5 Things That Are the Biggest Waste of MoneyK-Cups and Other Coffee Pods. Single-cup coffee brewers have become hugely popular. … Microwave Popcorn. Microwave popcorn has been around as long as the microwave oven itself. … Bottled Water. … Dryer Sheets. … Cable or Satellite TV.

Are cars a waste of money?

That’s because the moment you drive it off the lot, the vehicle starts to depreciate: Your car’s value typically decreases 20 to 30 percent by the end of the first year and, in five years, it can lose 60 percent or more of its initial value. To make matters worse, “most people borrow money to buy that car,” says Bach.