If the used car market has taught us anything is that cheap-to-buy doesn’t mean that it’ll be cheap to run. Or to put it in lore “There’s nothing more expensive than a cheap Mercedes”. Are these people right? Or do you think that you’ve owned something that’s more expensive to run?
eBay is practically crawling with examples of old Mercedes that are ready to very efficiently tear a Germanic hole in your wallet. Take this beautiful S55 AMG, for example. Its 9 years old and has almost 105,000 miles on the clock. There were a couple of S-classes higher up the ladder in case that 493 HP supercharged V8 was simply too plebeian for your taste; but if we’re honest, this is on its own merits a fabulous car–and thanks to the wonders of depreciation, quite cheap at a fiver under $20,000.
That’s quite a step down from the original $100,000+ price tag. Sadly for all of us that dream of owning such a comfortable and powerful barge, the maintenance prices haven’t come down. If anything, with its expensive parts and limited production numbers, they have gone up. A $3,000/quarter budget may not be completely used up every quarter, but you’ll be glad it’s there when the Active Body Control module decides passive is the way to go, or if the crankshaft position sensor decides it would much rather be a decorative item.
Of course, this isn’t limited to expensive cars with a horrible case of depreciation and exotic cars. Normal cars can also get very expensive, even if they’re taken care of properly. Just ask any person who bought a 1997-2002 Honda Accord or a 1998-2003 Honda Odyssey only to find out that the automatic gearbox was made out of twigs and Elmer’s glue. Or someone with an early 2.2-liter Chrysler Minivan that decided a family road trip would be the perfect time to throw a rod. And really, any car can become a money pit if you’re tasked with correcting a lifetime of skipped and skimped maintenance.
What was the car that stiffed you out of the most cash for repairs? The one that seemed to not be satisfied until your parts supplier and mechanic could afford to buy those luxury summer homes in France?
My nicest cars were my 2007 SLK which was $67k new that I got when it was 3 years old for $18k. Dealer couldn’t CPO it since it was a dealer loaner. Only put tires on it. My current Boxster, though less than the SLK when new is the nicest I’ve owned. Most expensive to own, Audi A3 with the FSI engine. 193,000 miles on it but it eats timing belts and wheel bearings every 70k plus all the other little things that make these cars seem like owning a 60s Alfa. Best car ever was a cheap Mercedes. 1998 C230 I got for $2500, put $500 into and drove for 5 years and to over 200k. Sold it to a friend that still drives it. Pushing 250k.
All my cars have cost me an arm and a leg. My present mercedes W124 was a whooping HK$ 876,000.00 brand new in 1994 and I got it for HK$ 24,000 in 2008 with 124,00 kilometre on the clock. Can’t remember how many times I’ve nearly abandoned it, but the application of at least a couple of hundred dollars (U$) have got me back on the road. The oily bits work fine at its’ present 186,000 km, but it’s the electrics that are a problem; they just fry with age. Don’t understand everyone complaining about part for these mercedes. There is a great grey market in genuine and pattern parts from Germany here in Hong Kong and they are a damn sight cheaper than Japanese car parts.
That said, my long suffering mechanic shakes his head in disbelief when I roll up to see him for the annual government safety test….he’s seen it all before I guess!
Without a doubt, a 1999 Cadillac Seville with the Northstar engine. The 99 year model seems to be the worst, but until 2004, the Northstar had a problem euphemistically called “The Head Gasket Problem”. I’m not gonna go into details and specifics here, too long, involved, and painful. Google can explain. Bottom line, more money to fix than the car is worth. Yet I did it anyway. Once “The Head Gasket Problem” was fixed the car drives like a dream. Then it needed shocks/struts. It has a computer controlled suspension. You guessed it. Cost more than the car is worth. At least the factory parts. Aftermarket suppliers can provide conversion kits that replace all the computer controlled bits with more traditional components (at the loss of a silky smooth ride), at a more reasonable cost. The lesson is, cars that were expensive when they were new, stay expensive to fix when they’re old.
A 1971 Corvette I bought at an auction for 75 grand.
Runner-Ups: 1961 Jaguar E-Type : $50,000
2012 Lexus ES350 : $37,235
1957 Ford T-Bird : $35,499
1955 Chevrolet Bel Air – $20,000