Should You Buy a Cheap Used Luxury Car?

Little did this Doug know, we know that "friend" That wanting a Ferrari F355 Is Kennan A.K.A Kenzoil...and also this Doug didn't know that current Doug has a Countach...

One of the BEST videos pertaining to the question. I’ve owned 25 cars in my lifetime. Everything from sports cars, SUVs, exercise economy and luxury cars.

I’ve had this same discussion and I mimic what you said in this video. I have friends who spend tons of money on watches or shoes or traveling around the world. I explained that those things make them happy then do it. For me, I’m an auto enthusiast. I love driving cars and going across the country by vehicle. For me, spending money on something that puts a smile on my face is worth it.

And now he bought a Countach sich a G

I'm a little late to this video but i just recently bought an 03 sl55 amg and have spent over 4k in repairs already but i have zero regrets of buying, its and absolute blast to drive and an overall great experience, its my first truly nice and fast car and to me the cost of ownership is worth it

It’s just a 13 min video of Doug agreeing with scotty kilmer

Tl;Dr research the power train and only buy the more reliable ones. Also, repair costs can be much lower than deprecation on a new Toyota, so it's not the worst decision

Repair costs on luxury cars is NOT high! Your perspective is just wrong. If you bought a $300,000 Rolls Royce for $500 why would then be shocked at a $10,000 repair bill?! Because you are an idiot. A $300,000 car is a $300,000 car irrespective of what you paid for it!!!! The parts and service on said vehicle require special parts, and difficult labor to complete jobs. A $10,000 repair on a $300,000 Rolls Royce is NOT high, it is normal when you take the cost of the vehicle and the parts into proper consideration. Do not buy ANY car that you cannot afford to maintain. The original MSRP is not a "suggested" sticker price.

Sure Acura, Lexus, Infiniti and Hyundai Genesis/Equus are bargains

Gopnik Doug goes hard

I totally agree with you Doug! There isn't a single answer that will apply to everyone, as people do things for different reasons. Very rarely does anyone gain money from buying any car. As you mentioned, most people don't factor in the money they lose from depreciation, but they are more likely to be concerned about the associated costs of maintaining a used vehicle, which is not as drastic as the depreciation costs.

You cant go wrong with Mercedes m113 wrong , i had ml 55 , and looking for E 55 now, next week i am go to check one.

I have bought a Miata, and a 370z with research and it has payed out!

Get better soon Dman.

Well Doug I have been buying what I call luxury cars all my life. But today it is very confusing because a sports car, a SUV or just even a brand name is a Luxury car. So many cars are looking the same on the outside and the inside. Luxury used to mean classy unique comfort, but today in many cases it is more defined by brand names and price. It's like the art world, it's more about the price that defining the art work than the art work itself. I enjoy your videos anyway.

When you say if you can afford it you can buy anycar you want but you didnt include the thing thats called even if you can afford it(is it worth it)

Toyota all day if you even think about costs

I have been looking forward buying a bently 2010 for 30 000 usd with 100 000 km,

Good desicion?

I've had my Mercedes for 4 years its worth more than I am paying for it

Hoes watch’s alcohol wise words Doug:p.s. I know he said clothes lol

Cliffs: No, don't do it. unless you're very rich and L O V E cars.

I bought a C280 Mercedes 07 about two years ago, only had two repairs, it sat for almost two months. I expected to do maintenance, all cars need it. Do I love it? Kinda, the relationship between the Mercedes and I is like a highschool crush, I love it, but it’ll never love me.

When he said don't go bankrupt for a car. No car is worth it.

I thought he was going to say except a McLaren F1 LOL

My opinion on older luxury cars is the more bells and whistles, the more potential points of failure. Collecting and preserving older cars in an important contribution, but you really have to have at least the purchase price in reserves for maintenance.

I recently bought a 6-speed manual 2012 VW GTI with a lot of miles on it and was super excited about it. 100 miles in, the timing chain fails and the repair quote is $3500.

Can confirm, being stupid costs you money. 😅

I recently bought a 6-speed manual 2012 VW GTI with a lot of miles on it and was super excited about it. 100 miles in, the timing chain fails and the repair quote is $3500.

Can confirm, being stupid costs you money. 😅

It's like people saying "Oh the 3.6 V6 from GM is total shit." Really? Cause I know tons of examples that have never had any issues, mainly cause the owners weren't just buying the Camaro cause they could buy it, but because they could do the maintenance regularly. Luxury, performance, etc are all the same, if you keep up on maintenance, you'll be fine.

I want Scotty Kilmer to comment on this

reliable luxury car?? Lexus.

Thumbnail is amazing!!! 🤣

Where'd you get that t-shirt Doug? 🙂👌

This advice can be applied to owning any classic car aswell. You'd be surprised how expensive repairing an old IROC-Z would be (That'd be a good car to review just saying) because of parts going out & availability of said parts dwindling.

I'd love to buy a used depreciated Aston Martin but they're plagued with expensive electrical issues and at this point I'd rather be investing the money than spending it on a want

Those cars in turkey are expensive af and its some peoples dreams

This is also my perspective. When you buy the new car you mitigate risk by paying a much higher cost up front. Buying the used car means you may or may not get hit with huge repair costs, a chance I'm willing to take. Of course when it comes to ultra luxury and rare cars I'm not interested at all.

This is great advice

Number one rule: gotta pay to play

I have this talk with people all the time. I have a Evo x and young guys ask me what it takes to get one and why I haven't modified it yet. Its about owning it, also not modding it out of your budget. Sure the car cost 20k to 35k but to maintain the car and pay for parts after modifications go wrong can be super expensive.

It’s fine at theses conditions: if you extend warranty, if it was maintained well , if u did inspection at dealership, if you will not use it in daily basis, if it has low mileages, last but least if it is Lexus.

I learned this with a 07 caddie STS I had bought last year. Loved the car it was a smooth ride till I had to replace the motor an fix the electric steering. Had to give it up that bill was nuts lmao

Nice slav squat, complete with tracksuit, in the thumbnail. LOL

In Albania, we usually say before buying a car that '' you need to have the money to buy it 3 times '' ...
( For its price, for taxes and repairs and for the gas ! ) 😂

There's the old expression "If you can't afford a new BMW, you can't afford a used one". Heard that with Range Rovers too!

the kilmer reference is spot on. he hates luxury.

that thumbnail though

First and for most, you’ve got have money AND time to maintain your used luxury car.

I bought a secondhand E class eight years ago, and I’ve done around 120,000 miles in it, and it’s been the most reliable vehicle I’ve ever owned, and it’s cost peanuts to run. I’m the second owner, the first having lavished lots of MB servicing and maintenance, and maybe that’s the key. Buy a good one, with low miles.

The price of the used car won’t bankrupt you but the repairs will.

Here's the used luxury car financial and enjoyment sweet spot is the 2006-2012 Lexus ES 350. I love my $7000 2009 ES 350