I found myself debating between buying a new EQS 580 or a used one. Then when I went to consider ordering one spec'd as I wanted it was adding up to over $140K and I really actually wanted the AMG. Well the prices for CPO and used are all over the map and all over the USA. Would you believe that I was able to find several AMG EQS '23 models between 2k and 9k Miles for as low as $95K. These were purchased less than 12 months ago for the price of 155-165K. Well that's a depreciation rate of 42% in 1 year!!! That's almost as bad as a Bentley or Lambo URUS...so yes CAVEAT EMPTOR. However, I took the plunge at that right price to drive such a cool fast car. Posting pictures in 2 weeks....now we are all MB family with 2 AMG's!

 

so you got a good deal?

 

In my opinion, buying an electric car is like buying a new computer or phone.... Within months, there will be a new variant that can do more for the same price or less and the one it replaces drops dramatically in value. At some point you just have to take the plunge and enjoy the ride.... Very few cars qualify as investments. Life is short and we're all going to be dead for a long, long time. Get what you want now and enjoy it.....

 

My problem with EQ S or E is that there are a lot of issues. I just don't want to spend the money and be forced to visit the service room. I totally dislike any time at the dealership as it takes from my personal life. I find it absolutely not acceptable to have such drastic issues with Cutting edge technology vehicle. Lemons are everywhere, but the MB seems to have a real issues,
​​​especially, when some of the problems are already well known and new vehicles are rolling out with them. Price, yes, everyone is loosing big on value. So brace yourself that your going to burn some 20-40K, depending on how long you keep it, or don't sit in at all if this isn't for you.
I have to admit that when it works, it's a great car. MB is a classy

 

Lease it and control the depreciation. I'm all for "life is short" but that doesn't mean that you should just buy whatever and not analyze what the most cost effective way to acquire it is. New computers and phones don't cost $4,000 a month in depreciation lol

I could just never be okay losing $4k a month in depreciation on anything, lease it for $1,500 and enjoy it and let them figure out what to do with it after 3 years...take the monthly savings and buy a beach condo.

 

Either way brace yourself with some 40-50K, done and gone in 3Y lease. Simple math nowadays solves it like this: 10k at signing and 1100/mo. + all possible fees you can think of, plus mls limitations -10K/Y. Just for comparison - this is a cash price of a brand new C300, CLA, model. And yours forever.
On the other hand, you can get a year old vehicle, already 40% depreciated, CPO, for about 60K. I don't think you loose another 40 % in a year or two and would make sense to keep it longer. What it will cost in 5y or 7 Y is anybody's guess. Probably will still get some 30K back,

 

It's not just the EQS, the entire used car market is collapsing:

 

But thats just the reality of driving a car at that price point. My S560 lease is $1,500 a month. $40-50k over 3 years is better than $50k in ONE year. A CLA or C300 might be "mine forever" but I don't want that. I also don't want a used car, and leasing is what makes sense for me taxwise.

I can totally see a 3 year old EQS being worth $30,000.

Its all about how do get what you want for the most cost effective outlay possible.

 

The EQS and other EVs absolutely have higher depreciation than similar price ICE cars and a way more uncertain long term value proposition.

 

an off-lease EQS for 30k sounds like a deal (it's in the price range of an off-lease GLB)

But do people feel comfortable owning an EQS without warranty? I heard many mechanics don't know how to fix EVs...

 

That would be one of the big reasons why they depreciate so quickly.

 

This is right, if anything happens to the battery, motors, electronics - it's going to be $$$$$$... You can't just go to AutoZone and order alternator, thermostat, water pump, etc.
The regular service alone is 1k, this is maintenance, don't know what's repairs costs.

 

Yes very scary. This combined with the demographics of the used car market, who if informed aren't willing to risk those kind of repair bills.

 

Buy an extended warranty, people. Ours goes 11 years. I believe the factory warranty on the battery is 10 year/155,000 miles. This takes away almost all risk of a financial meltdown, and freezes part and labor inflation today.

 

@nath_h A good plan, but an ELW is not available in Canada. Guess the bean counters have not figured out the profit point.

 

I don't have a belt-driven water pump, alternator, thermostat, etc., so there's no need to go to AutoZone. The reduced number of things that can go wrong (single point of failure) is a big advantage to owning a BEV. That's also why I won't buy a hybrid, you get more SPOF vs an ICE vehicle.

In any case, used BEVs should be a real bargain when the 2025 models with NACS connectors hit the street. Who knows, I might even trade-in my EQE SUV for a used Maybach EQS SUV.

 

But why? Why do you want to drive an incredibly outdated 6, 7 year old EV? Imagine the advancements that will exist for EVs in 5 years, imagine how outdated the EQS will be and look…it will be like using a BlackBerry today.

I just don’t see one of these as a buy and keeper.

Plus just financially because the depreciation is so terrible you could have multiple new ones over a long period of time and have your financial outlay be the same…

 

I thought MB warranty is 4y + 2 ys? How did you get 11 years?

 

if possible, can you share some details on the extended warranty.... Thanks !

 

Well, we all bring our own wants/needs to the car situation. In my case, why would I want a 7 year old outdated EV? Because I am totally content with what I have, and will be in the future with this car based on my past experience. I was fine with my BMW i3 and regret selling it. I'm fine with my 15 year old CL, and actually enjoy the more analog feel of the older car. Range is a non issue for my needs. The only thing that might change my mind is true Level 3 functionality at highway speed, but that perpetually is 5 years away. A solid state battery with a 1000 mile range would be nice, but I can't foresee a situation where I would ever need it. And, I hate the process of buying/trading cars (used to switch cars all the time, and I'm so done with that). So, I'm cool with it, and can live without getting the latest greatest that shaves off another .2 seconds 0-60 and adds 15 miles more range, and tweaks the front grill.

 

Yes, the MB extended warranty is two or three years more, and pretty expensive. There are lots of companies offering extended service contracts, most with awful terms. After doing lots of research on this, I've found Trent at High Line Auto is the best option in terms of price/coverage/responsiveness. I'll paste his info in below. If you are going to dump your car before the warranty is up or are leasing, this is obviously not needed. But I can assure you having an old super complicated MB out of warranty is catastrophically expensive to keep running, at least in full operating condition.

Trenton O. Gibson
Advertising & Marketing Manager
Highline Autos
Direct: 602.909.9216
Office: 480.348.0777
www.Highline-Autos.com

 

I think it is a fallacy to compare EV to current tech such as small electronics. Even your current ICE vehicle have a ton of electronics that will be outdated the same time if not even faster than the current EV. Some people buy EVs to enjoy because it serves a real purpose in their lives; depreciation becomes low priority if any. But if you want the latest and greatest all the time, you're going to have to pay for it one way or another.

 

I just cannot believe that $4,000 a month in depreciation is a low priority for anybody lol.

In an ICE car, technology may become outdated but the core properties of the vehicle do not, ICE powertrains are fully developed and frankly don't improve or change much over time. EV tech is still in its infancy and is improving exponentially with time. In an EV...the car IS the technology. We're going to have EVs with much faster charging potential, much longer range, that are much more efficient and are better tools in 5 years than they are today, its not just like a navigation screen being outdated. You're going to be driving a 7 year old car that gets 1/3rd of the range and charges 4 times slower than a new EV...most people aren't going to want that. In a 7 year old ICE, from a functional perspective its the same as a new ICE...EVs won't be that way. Thats why the resale is so poor...

 

In the grand scheme of the car industry, if technology for EV is going to advance that fast, the ICE vehicle will look and operate like dinosaurs whereas the the "older" EVs will be alligators, whales, and elephants. Let's just call the ICE vehicles "classic" so we don't hurt people's feelings.

 

Think of how fast it’s advanced over the last 7 years…