Yahoo Finance Mechanic Says Don’t Buy These 5 Sports Cars That Cost the Most Money Over Time
In many ways, sports cars are second to none in terms of performance, handling and raw power. They’re exciting to drive and, for some, are also a status symbol.
But while sports cars have a lot to offer, they’re not always worth the cost. The starting MSRP for these vehicles can be relatively low, but it can also quickly become pricey. Some, like the 2024 Nissan Z, cost around $44,000 to start. Others, like the 2024 Jaguar F-Type, cost closer to $79,000 and go up from there.
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And then there’s the cost of ownership over time. As with any other vehicle, you’ll need to account for long-term costs such as depreciation, maintenance, repairs, fuel, financing, insurance and any registration fees or taxes.
If you’re in the market for a sports car — whether it’s old or new — here are some you should avoid due to their high overall cost, according to Scotty Kilmer, a mechanic and popular YouTuber.
Maserati GranTurismo
Typical sales price: $159,995 to $191,995
Not only does the Maserati GranTurismo have a high starting MSRP, but it depreciates rather quickly. According to Kilmer, a brand new one can lose around 50% of its value after you’ve purchased it — that’s tens of thousands of dollars gone just like that.
“It has a Ferrari built flat crank V8 engine,” Kilmer said. “It’s fast, there’s no arguing that, and you can get a used one pretty cheaply if you look around, but that’s because they cost a fortune to maintain and they break down as they age.”
Kilmer called the Maserati GranTurismo a money pit, adding, “The more exotic a car, generally the more problems you’re going to have.”
While an older make, an owner of a 2019 Maserati GranTurismo MC said it cost them $2,035 plus tax to get their first two-year maintenance done on their vehicle. That said, that same individual noted they hadn’t experienced any other major issues with the vehicle up to that point.
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Mercedes-Benz SL 450
Typical sales price: $91,000
According to Kilmer, the 2020 Mercedes-Benz SL 450 is another sports car that’s best avoided. Even used it goes for a high starting price, but it depreciates quickly as well.
“In about five years, you can kiss goodbye about $55,000,” Kilmer said. “If you buy one, be prepared to lose a whole bunch of money just in the lost value.”
And if you’re thinking about getting an AMG one, think twice about it. They’re fancier and go faster, he said, but they tend to lose value at the same rate. They also have a higher base starting point, even used. Plus, the older models tend to have engine oil leaks and head gasket issues — all of which add up in repair costs.
Rather than buy one of these sports cars and pay for potentially expensive repairs — and deal with the rapid depreciation — Kilmer suggested leasing one instead. That way, you get to enjoy the experience of driving one without the extra expense.
Chevy Camaro
Typical sales price: $32,495 to $49,890
The Chevy Camaro has a much lower starting MSRP than other sports cars, but that doesn’t automatically make it a good deal.
“In two years, they pretty much depreciate about 45% in value,” Kilmer said. “I’m telling you, they’re not great-made vehicles.”
According to him, Chevrolet has had quite a few quality issues when it comes to their Camaros. This includes steering column wiring problems and early coolant leaks — which could lead to more serious problems with the engine.
“The quality just isn’t there,” Kilmer said. “And for the money they’re asking, don’t buy one.”
When it comes to Chevrolet, Kilmer also advised against getting a ZL1. They cost roughly double the Camaro and, while they offer exceptional performance, still depreciate quickly. New and used models also have high maintenance costs.
Tesla Model S
Typical sales price: $66,490 and up
While the Tesla Model S is an electric vehicle — one with admittedly exceptional performance and speed — it’s still a sports car Kilmer advised against getting.
“It’s a true sports car,” he said. “It’s super fast. It’s much faster than even a Dodge Challenger with a Hellcat engine with 700-something horsepower … The thing is, these things have very little resale value.”
Kilmer gave an example of a customer of his who purchased a Model S from someone else. The vehicle only had 15,000 miles on it, but it lost roughly 30% of its original value because of it.
Depreciation aside, Teslas are fairly expensive to maintain. According to RepairPal, this vehicle costs around $1,047 a year on average to repair and maintain.
Jaguar F-Type
Typical sales price: $79,175
The Jaguar F-Type is another beautiful sports car that’s fast, sleek, and powerful. The 2024 version is on the smaller side — the cabin and trunk both — which could be a deterrent for those seeking comfort, but that’s not the biggest issue with these vehicles.
These cars, according to Kilmer, tend to fall apart before their time and don’t have the best quality control. These vehicles tend to cost around $1,441 in annual repairs and costs about $251 a month to drive — not accounting for financing costs.
They also depreciate quickly, said Kilmer. The average depreciation rate is about 43% in five years.
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This article originally appeared on GOBankingRates.com: Mechanic Says Don’t Buy These 5 Sports Cars That Cost the Most Money Over Time
