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A Statistareportestimated that luxury vehicles cost a ton ofmoney, around $75,000 on average.
However, the manufacturers suggested retail price (MSRP) can be significantly lower or higher than that.
According toKelley Blue Book, certain brands have long been considered luxury.
GOBankingRates reached out to a few automotive experts to get the answer.
These top expert-picked luxury cars will drain your bank account, along with some price estimates.
For example, the Bugatti Veyron is incredibly expensive to maintain.
This is largely due to the specialty parts, which are expensive to replace.
Additionally, every few years, a special service is required that can cost around $100,000.
Rolls-Royce Phantom
The Rolls-Royce Phantom is synonymous with luxury but comes with substantial costs, Giranda said.
Maintenance for the Phantom can easily reach $5,000 annually.
But thats not all.
According to Giranda, this luxury vehicle requires very specific parts that are hard to find and expensive.
Theres also insurance to consider.
Generally, car insurance is more expensive on higher-end or pricier vehicles like the Rolls-Royce Phantom.
Annual insurance premiums can exceed $10,000 a year, Giranda said.
Kelley Blue Bookestimated that the five-year cost of owning a 2024 Range Rover is $169,621.
This includes $60,604 in estimated out-of-pocket expenses.
Getting major work done, like replacing an electronic control unit, can be even more expensive.
Its complex systems often lead to expensive repairs.
According toKelley Blue Book, the five-year cost of owning a 2024 Audi A8 is about $124,000.
This includes nearly $61,000 in out-of-pocket expenses.
Mercedes-Benz S-Class
For many car enthusiasts, the Mercedes-Benz S-Class is the peak of indulgence.
Its a sophisticated ride equipped with plenty of technology and intricate systems.
The S-Class also suffers from rapid depreciation and high maintenance costs, Cudd said.
Annual maintenance and minor repairs can easily cost thousands of dollars.
Major repairs can, of course, be much higher than that.
This can help you save money and choose the right vehicle for you (and your wallet).
All starting MSRPs, except for the Bugatti Veyrons, were sourced fromCar and Driver.
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