2 Used Luxury German Cars That Are a Bad Investment for Retirees
Written by
Sarah Sharkey
Edited by
Amber Barkley
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Not every car is created equally. Although many German cars come with a great reputation, some used luxury vehicles tend to make a bad choice for retirees.
It’s worth noting that, like all vehicles, a used German vehicle will depreciate in value over time. Since vehicles lose value, very few vehicles can be considered a good investment in terms of building wealth. For the purposes of this piece, a vehicle that makes a good investment is a reliable purchase that will keep you on the move for years to come.
Below is a look at used luxury German vehicles that make a bad choice for retirees.
Mercedes-Benz G-Class
Mercedes-Benz G-Class vehicles tend to hold their value well. Although that’s useful for the original owner, it makes getting a deal on one of these vehicles quite challenging.
In addition to the relatively high price point for a used vehicle, it comes with mid-range reliability ratings from Consumer Reports.
BMW 2 Series
Retirees looking for a small luxury car might consider a BMW 2 Series. Although it’s a sleek car, the relatively low reliability rating from Consumer Reports is a red flag.
Beyond the possibility of mechanical issues, you’ll have a tough time finding a great deal on a used 2 Series due to its relatively slow depreciation.
How To Find a Good Used Vehicle
When looking to purchase a used luxury vehicle in retirement, finding a reliable option is a top priority. As you explore your options, use the following strategies to find a good used vehicle:
- Set your budget. Before you start shopping for a vehicle, take a look at your finances to determine what you can afford to spend. Avoid going over budget in pursuit of any particular vehicle.
- Get a vehicle history report. A vehicle history report can help you determine what the vehicle has gone through, including accidents, repairs and more. Generally, you’ll want a vehicle that hasn’t been in a major accident and is up to date on repairs.
- Get it inspected. Before buying a used vehicle, consider getting it checked out by a trusted mechanic. They can let you know if they spot any red flags.
Takeaway
Finding the right used vehicle in retirement can make a big difference to your peace of mind. Not only do you want to find an option that doesn’t break the bank, but you’ll also want a reliable ride to carry you down the road for many miles.
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