Driving off the lot in a new car feels great, but for average earners, it’s a major financial choice that can make or break your budget. Some cars seem like a deal but end up costing more in the long run due to high depreciation, maintenance, and other hidden expenses.
This article steers you clear of 28 cars that might seem tempting but are bad news for your wallet. We’ll explain how these models can end up costing you more and threaten your financial stability. Get ready for a straightforward look at the cars that don’t measure up in terms of reliability, resale value, and overall ownership costs.
Tesla Model S Plaid
The Tesla Model S Plaid, with its 1,020 horsepower, hits 0 to 60 mph in just under 2 seconds, ranking it among the fastest production cars. Yet, its high cost may deter average earners. Additionally, some early owners report missing features and interior lights.
Lamborghini Huracán
The 2021 Huracán starts at about $333,633. Despite great performance, it’s impractical for daily use due to its low front end that scrapes on speed bumps and steep driveways.
Chevrolet Suburban
The Chevrolet Suburban has high fuel consumption and is costly to maintain and insure. Moreover, while it has a mix of reliable models, it’s best to avoid the 2001-2005, 2007, and 2009 models due to transmission problems and engine longevity issues.
Related: Here Are The Best Years for Chevy Suburban and Reliable Used Versions!
Porsche 911 Turbo
The Porsche 911 Turbo is a luxurious vehicle that average earners should avoid. With its high price, it’s not an ideal choice for budget-conscious drivers. Despite its performance and features, the Porsche 911 Turbo also experiences depreciation, which may lead to financial concerns for owners.
Mercedes-Benz S-Class
The Mercedes-Benz S-Class, while luxurious, has steep purchase and maintenance costs.
Related: 10 Mercedes S Class Problems, Top Issues and Best S-Class to Buy Used!
BMW 7 Series
The BMW 7 Series, a prestigious luxury sedan with advanced technology, also has high purchase and maintenance costs.
Mercedes-Benz SL
The Mercedes-Benz SL, with its steep initial costs and known reliability issues in the 2002-2012 R230 models, is not ideal for average earners. The SL’s powerful engines, such as the 6.0-liter V12 in the 2012-2019 SL 65 AMG, result in high maintenance and fuel costs.
Ford Expedition
The Ford Expedition has had strong model years in 2022, 2021, 2020, and 2019, but all models incur high running costs and pricey repairs and parts.
Related: Best Year for Ford Expedition and Reliable Used Models!
Audi A8
The Audi A8, a luxury sedan, is costly to buy, insure, and maintain. Models from 2003 to 2005 are particularly known for reliability issues and driver complaints.
Dodge Challenger Hellcat
The Hellcat’s steep insurance rates can strain finances. Caution is crucial when driving one due to its potential for high speeds that could result in legal trouble or danger. It’s prudent for average earners to steer clear of the Dodge Challenger Hellcat.
Rolls-Royce Phantom
The Rolls-Royce Phantom exudes luxury but is out of reach for the average earner with a base price around $450,000 and $500,000 for the extended version. Maintenance can cost about $4,000 annually, with insurance exceeding $1,400 a month. Given these costs, average earners should bypass the Phantom for more affordable choices.
Bentley Mulsanne
The Bentley Mulsanne, starting at $316,525 for the 2020 model, offers luxury but is impractical for average earners due to its high price and fuel consumption.
Ferrari F8 Tributo
Beyond the budget of most average earners, these cars have steep prices and insurance rates, along with poor fuel efficiency, resulting in higher ongoing costs.
Jaguar XF
Expensive parts and repairs, a history of unreliability, and issues with older models like those from 2009 to 2011.
GMC Yukon XL
The GMC Yukon XL, a full-size SUV, suffers from poor fuel economy and expensive maintenance and insurance, which can strain even upper-class budgets. Average earners should particularly avoid model years 1999, 2001, 2003, 2004, 2005, 2007, 2015, and 2016 due to reliability and safety issues.
McLaren 720S
The McLaren 720S is an incredible supercar, but it may not be the best choice for average earners. With a staggering performance, the 720S can hit 62 mph in just 2.9 seconds. However, its high price tag and costly maintenance make it an impractical option for most people.
Audi e-tron
The Audi e-tron, an electric SUV, isn’t ideal for average earners because of its rapid depreciation. Used e-trons can be found at much lower prices within a few years. Its range, averaging 344 km, is also less than competitors like the BMW iX, which may be limiting for some drivers.
Range Rover
Range Rovers offer luxury and off-road prowess but aren’t the best for average earners, with high fuel use and expensive maintenance. Models from 2014, 2006-2008, and 2003-2004 are notably less reliable.
Alfa Romeo Giulia Quadrifoglio
The Alfa Romeo Giulia Quadrifoglio, an Italian luxury sports sedan, may not suit average earners with its $76,345 starting price and high ownership costs. Its fuel consumption and 15.3-gallon tank could lead to more frequent and costly fill-ups.
Cadillac Escalade
Thinking about a Cadillac Escalade? Its high gas usage and costly repairs might deter the average buyer. The worst years—2007, 2008, 2010, 2015, and 2016—have seen issues like electrical fires and multiple NHTSA complaints.
Ford F-350
Unless required for work, the Ford F-350 is costly to fuel and maintain. Problematic model years—2003-2008, 2001, 2013, 2015, and 2017—should be avoided by average earners.
Maserati Ghibli
The Maserati Ghibli is a luxurious and alluring sports sedan. With a captivating design and powerful performance, it’s a dream car for many. However, the Ghibli comes with a high price tag of $460,000 – not suitable for average earners.
Ram 3500
Similar to the F-350, the Ram 3500 may only be valuable for middle-class business use due to its high fuel and maintenance costs.
Tesla Model S
The Tesla Model S, costly to purchase, may not be suitable for average earners due to reported issues in certain years. The 2013 Model S, in particular, had various problems including accessory malfunctions, electrical glitches, suspension failures, and transmission issues.
Porsche Taycan
The Porsche Taycan is a luxurious electric vehicle, though not affordable for average earners. It’s expensive to buy, to maintain, and insure.
BMW 6 Series Convertible
The BMW 6 Series Convertible, with its diesel engine, is great for cruising but its high price and maintenance costs, especially for the convertible top, may be prohibitive for the average buyer. It’s worth noting that its average lifespan is around 12 years or 120,000 miles.
Chevrolet Corvette
The Chevrolet Corvette, a well-known sports car, is sleek and powerful but starts at $59,995, making it expensive for those with a modest income. Owners should budget about $1,000 for biennial repairs and maintenance.
Ferrari 488
The Ferrari 488, while impressive, isn’t suitable for average earners. It costs between $200,000 and $300,000 used, and is very expensive to buy, maintain, and insure. Its depreciation rate is also a factor, despite its unmatched performance.
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