You may feel an impulse to swallow hard before you purchase a car with a price that pushes near or even into six figures. But hold on to your wallet, because the dollar drain has just been opened.
The full cost of ownership for any automobile can be eye popping. The figures for expensive luxury models are especially high because vehicle depreciation — the loss of resale value as a car, truck, van or sport utility vehicle ages — is the biggest single car ownership cost, said Michael Calkins, manager of approved auto repair for the AAA National Office. For a vehicle with a higher initial purchase price, the loss adds up to a greater monetary amount than it does for a low-cost car that began its life with little to lose.
Costly cars to own
• Mercedes-Benz CL-Class
• Mercedes-Benz SL-Class
• Porsche 911
• Mercedes-Benz S-Class
• BMW 7 Series
• Mercedes-Benz G-Class
• Jaguar XK
• Land Rover Range Rover HSE
• Acura NSX
• Dodge Viper SRT10
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