I'm thinking of purchasing Certified Pre-Owned 2022 EQS 450 with 7,000 miles for $48,000 and would like to know:

1. If this is a good deal
2. Any service issues that I should be concerned about
3. Any car history that I should be concerned about
4. Did the original buyer purchased 7 year 75,000 Extended Warranty, and if so can I transfer it in my name.

 

IMHO, this only looks like a good deal against the astronomical MSRP. Let's say you drive it for 4 years. After that, it will have issues that you probably don't want to pay for, and the car will be worth about $15k. So thats $687/mo in depreciation. Plus maintenance costs (2-3k), tires, taxes, etc. So you're close to $800/mo in expenses. Going into the holiday season, you will be able to lease a new one (2024+ has brake pedals that actually work) for roughly the same amount, and it likely won't ever need to see the shop for the 2-3 years you have it. When you turn it in, the massive depreciation is not your problem. And you keep half of your 48k doing something else over that time.

Now if you really think you're gonna get 7 years of use out of this thing, then it pays off. But be realistic: these things are fragile, fickle and can't be easily repaired by Gus on the corner.

I don't want to rain on your parade, but I've been driving exclusively EVs for 12 years now, and I have been burned by some wicked depreciation. I would not buy one if the lease cost is the same or even 15-20% higher. I do hate the lack of flexibility with a lease, but it's better than wasting thousands of dollars.

 

Thank you for the detailed response. This is what I like about this forum. Someone always walks in with a different view. I have kept ICE cars for over 10 years without any issues. However, with EVs, I'm always worried about the battery and all the electronics that they now squeeze in. With 8 to 10 battery warranties, it is hard to keep the vehicle for longer periods.
I do plan to keep the vehicle for 6 plus years and that is why I started looking in to Certified Pre-Owned vehicles.The current 3 year lease cost for EQB 250+ is around $25k and EQS is around $40k, compared to CPO cost of $30~$$35k and $45~$55k respectively.
In Maryland & Virginia, sales tax is on lease selling prices instead of your monthly lease, which makes leasing in these states more expensive.

Nevertheless, thank you for your insight, I truly appreciate it.

 

It's always worth looking at the lease numbers regardless of the tax consideration. Also remember you can lease a CPO car too, and you can also do a trade to reduce the tax that gets rolled into the lease.