Why Are Used Maseratis So Cheap?
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Maserati is an Italian brand known for dashing sports cars but has since branched out to make sporty, luxurious grand tourers. If you’re looking to buy a luxury sports car, Maserati might be your entry point – but only if you buy used.
Maseratis cars are ultra-luxury high-end automobiles, so they’re going to be ultra-expensive as well. For instance, the Maserati GranTurismo ranges from $295,000 to $345,000, depending on your specs. Meanwhile, the most affordable model, Ghibli, has a retail price of $76,200, so it’s not exactly cheap either. As a luxury brand, keep in mind that you’re also buying into the prestige of owning a Maserati.
However, if you don’t mind buying a pre-owned Maserati model, the asking price might surprise you. Why are used Maseratis so cheap? For today’s post, we’ll get to the bottom of why pre-owned Maseratis are a lot less expensive compared to brand new ones.
Top Reasons Why Used Maseratis are So Cheap
Why are used Maseratis so cheap? Here are a few logical reasons:
1. Not Known for Reliability
One of the main reasons pre-owned Maseratis are so inexpensive is that the brand isn’t exactly known for reliability, especially when comparing them to their German and Japanese counterparts. Maserati engineers make some of the best-looking sports and luxury vehicles in the market, but they’re full of electrical and mechanical issues.
According to UK research firm ReliabilityIndex, the Maserati brand has consistently received a “Poor” reliability rating since 2016. Often with a ranking that’s dead last out of all 40 car brands reviewed. As of this writing, ReliabilityIndex has named the Maserati GranTurismo the least reliable vehicle out of all the other makes and models.
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2. High Depreciation Rates
Typical of exotic sports car brands, Maserati is prone to rapid and steep depreciation for numerous reasons, including the reliability mentioned above. One significant reason why Maseratis tend to lose a lot of their value over time is competition. Keep in mind that this stylish Italian brand has to compete with luxury car behemoths like BMW and Mercedes-Benz.
According to US News, Maserati’s entry-level luxury sedan, Ghibli, has a whopping 5-year depreciation rate of 69% – making it one of the fastest depreciating cars in the market. US News says that this was due to the competition. Although the Ghibli does so many things well, it’s usually outclassed by BMW and Mercedes equivalents at the same price point.
Meanwhile, Maserati’s popular GranTurismo only has a 5-year depreciation rate of 21%. Therefore, a 2019 Maserati GranTurismo bought for an MSRP of $96,080 will have a resale value of around $75,903 by 2024.
Moreover, the most popular Maserati model, the Levante, is predicted to depreciate 54% after 5 years. So a brand-new Levante that retails for $79,400 will have a 5-year resale value of $34,142 – a model to watch if you’re looking for a good value Maserati.
3. Expensive Maintenance and Repairs
Why are used Maseratis so cheap? Unsurprisingly, Maseratis are notorious for their costly maintenance services and repairs. The high cost of ownership is also one of the top reasons why Maseratis depreciate at such rapid rates. With its spotty reliability, owners will be on the hook for serious ownership expenses.
Once a Maserati goes through a mechanical or electrical issue, the repairs will be expensive; you can count on it. Plus, Maseratis tend to stay longer in the shop for repairs because the parts are harder to source because the suppliers of these rare components are also limited. All these hoops that you need to go through to repair your luxury sports car add up to an expensive bill.
Plus, this thing called the “Maserati Tax” makes maintenance services more expensive, from oil changes to components to labor. According to various forums for Maserati owners, an oil change will cost you between $400 and $600 with an official dealership.
People who bought a new Maserati will be covered by the manufacturer’s warranty when it comes to the repairs. If you’re going to buy a used Maserati, you won’t have such luxury, so you’ll likely be footing the bills out of pocket.
4. Limited Maserati Dealerships
According to ScrapeHero.com, only 115 Maserati dealerships are in the United States. While that doesn’t seem so bad, you have to remember that there are 2,998 Ford dealerships in the US, while BMW has 367 locations nationwide. Thus, it’s simply harder for Maserati owners to find a nearby dealer.
The limited number of dealers also plays into reason #3 because parts and certified Maserati technicians are hard to come by. Once you find the right parts and mechanic, you can expect to pay a premium for parts and labor.
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5. High Insurance Cost
Why are used Maseratis so cheap? Despite having lower price tags, used Maseratis are expensive to insure. You shouldn’t forget that Maseratis don’t just look great, they have the performance to match. For example, a used 2015 Maserati Quattroporte S Q4 delivers 404 hp and 406 lb-ft of torque, while the 2017 GranTurismo boasts a horsepower of 444 to 454.
Used Maseratis are cheaper than your standard sports car because you’ll also insure them like a new luxury car. As such, getting insurance for a Maserati is a lot pricier than your typical vehicle. For example, a 2017 Maserati Granturismo has a yearly insurance cost of $1,300-$3,400.
Should You Buy a Used Maserati?
Buying a used Maserati is an excellent gateway to getting behind the wheel of an ultra-luxury vehicle. There are a lot of risks involved when you buy a super high-end car like a Maserati – at the top of the list is the astronomical cost of ownership. Despite being more affordable than a BMW or Mercedes, you’ll have to consider the reasons we’ve outlined above.
If you really want to buy a used Maserati and offset most of the risks involved, we highly recommend using it as a weekender car and not as a daily driver.
8 QUESTIONS TO ASK WHEN BUYING A USED CAR
So you’re in the market for a used vehicle? We’ve gone ahead and prepped some essential questions to ask when buying a used car.
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