‘SUCH a good deal rn.’
Many people want a high-end car—but not the high costs that come along with one.
While a luxury vehicle may be visually appealing, it can also make a significant dent in your wallet. This, plus depreciating costs, is why many say that a luxury vehicle is not a great investment.
So, if you want a high-end car but don’t want to spend a lot of money, what should you do? One woman on TikTok has a surprising answer.
In a video with over 362,000 views, TikTok user Greta Devereux (@likevanfleet) says that, if you “want a bougie car but you also want to save money, get yourself a Mercedes EQB—specifically, a 2023 Mercedes EQB.”
“The electric car market right now is doing so bad, so electric cars are super cheap because there’s no longer tax credits,” she explains. “But that doesn’t matter because you’re saving a ton of money on gas.”
Additionally, she says that many of the costs associated with a luxury car are things like oil changes, failing parts, and engine problems. This, she says, is not a problem with electric cars.
“When you have the electric car—which, by the way, has a battery warranty for another seven years—you don’t have to worry about that,” she says. “You don’t have to get oil checks. … The only thing you have to worry about is the tires.”
If you’re interested in buying a newer luxury vehicle but don’t want to spend a lot of money, Devereux may have a point.
The value of electric vehicles depreciates fairly quickly. In the case of the 2023 Mercedes EQB, Kelley Blue Book estimates the value has depreciated by 56% over the last three years. Plus, as there are more used EVs on the market, the cost of picking one up is substantially lower than it used to be.
This doesn’t mean that the cars are of poor quality or have many issues. In fact, the U.S. Department of Energy claims that the cost of maintaining an EV is lower than a traditional vehicle. This is because many of the parts and their associated electronics have fewer moving pieces and require minimal maintenance.
Still, Deveraux is overstating the EV benefits a bit by claiming that one only has to worry about tires. Official Mercedes-Benz documentation notes that, in addition to tires, one must check brakes, cabin filters, coolant, the battery, and suspension work, as well as receive normal inspections.
Additionally, while charging an electric car is typically cheaper than filling a car with gasoline, it depends on where you charge your car. If one is charging at home and following good charging practices, they will likely save money compared to a gasoline vehicle. However, if one is only using expensive superchargers, they may find that their savings are more modest.
But if you are interested in the benefits of a higher-end vehicle without breaking the bank, picking up a used, recent-model EV from a luxury auto manufacturer may be the right way to go.
In the comments section, many users weren’t sure about Deveraux’s advice. Some criticized her specific car recommendation.
“It’s the cheapest, ugliest mercedes u can buy lmao,” declared a user.
Others said that, in their experience, the benefits did not outweigh the costs.
“What matters is it only has a maximum of like 250 miles, which means 100 miles if [you] use radio and A/C. Not to mention if [you] go CPO with Mercedes they charge [you] like 1k a year in maintenance, which is way too much for an EV,” offered another. “This car is a flop for a reason, not because it’s an EV.”
Still, some respected the general advice, even if they didn’t care for Deveraux’s specific recommendation.
“This is what I did with the 2024 Lexus RZ 300. I love it so much & it being electric has been so amazing,” detailed a user. “I got it for half of the price of a brand new one with 30,000 miles on it. My car payment is less than what I was spending on gas each month & it hasn’t raised our electricity bill at all.”
Motor1 reached out to Mercedes-Benz via email and Deveraux via email and Instagram direct message. This story will be updated if either responds.
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