Ridiculous Luxury SUV Depreciation Can Save You Thousands
Buying a new car is so exciting. The new car smell, making the deal––the whole bit is like an American rite of passage. But buying a new car is almost never an investment due to depreciation. Some cars depreciate more quickly than others. Certain brands––like Toyota––are known for producing vehicles that hold their value. Not so for the expensive luxury SUVs in this video.
Luxury brands especially start out with extremely high prices that depreciate as soon as you drive them off the lot. Of course, if you can afford a Bentley Bentayga that costs north of $200 grand there’s a solid chance the depreciation of your brand new Bentayga is high on your list of worries. Still, the ridiculous depreciation on some of these expensive luxury SUVs is so massive. In fact, the value decrease over time could save you thousands.
Six figure savings
In the video, the host of Ideal Media goes through a list of expensive luxury SUVs that depreciate at alarming rates. The first one on the list is the Bentley Bentayga. This luscious SUV is designed for the elite. You can get a $160,000 clock on the dash––among other insane luxury options. However, the Bentley Bentayga loses one-third of its retail price. After three years, the Bentayga SUV loses $136,425 in value.
Next on the list is the famed figure of American luxury SUVs––the Cadillac Escalade ESV. This big beast is powerful and plush. It’s also an expensive luxury SUV that depreciates 57% of its retail price in 5 years. That’s a $50,000 loss. It also means that if you buy a 5 year old used Cadillac Escalade you’ll probably be able to find a killer deal.
More expensive luxury SUV savings––thanks to depreciation
The Ford Expedition isn’t necessarily considered a luxury SUV. But it is expensive. The range-topper for this large three-row family SUV starts at $76,965. After 5 years, however, you can expect about a 57% loss due to depreciation. The Ford Expedition loses up to $30,000 in value. Then we have the Tesla Model X 90D. This model lost 58% of its value in 4 years. That means depreciation loses $86,000.
The Infiniti QX70 is another expensive luxury SUV that loses value due to deprecation. This model’s value is reduced by almost 60%. The Infiniti QX70 is expected to lose up to $30,000 in value over 5 years after it’s purchased new.
In the video, the host leads into talking about the Audi Q7 by saying “no one does depreciation quite like the Germans.” The Audi Q7 is sleek and stylish and loses 61% of its initial value after 5 years. Starting at up to $71,200, the German Audi Q7 family crossover is an expensive luxury SUV that costs up to $42,000 cheaper if you buy one used.
Save money on used luxury SUVs
The Land Rover Range Rover and the BMW X5 M are up next. The Range Rover loses about 63% in value due to depreciation and the BMW X5 M loses 63.4%. That means that you can get a used luxury SUV like the land rover Range Rover or the BMW X5 M for a fraction of the cost of buying new.
Number one on the list in the video is the Volkswagen Touareg. This family SUV depreciates up to 65.8% in 5 years of ownership. You can save up to $44,000 if you buy a Volkswagen Touareg. You can find serious deals on luxury if you shop used SUVs.