Everyone knows that most cars depreciate over time, but attitudes towards depreciation vary depending on who's asked. For new car buyers, it means the inevitability of losing a significant part of their original buying capital over just a few years. For used buyers, however, it means that bargains can often be found. Usually, the best deals come on cars that had a high list price, to begin with, and have slowly depreciated their way onto cheap used car lots.
Right now, a lot of the cars that sit at dirt-cheap prices are from the 2000s, as this era of vehicles is too old for most buyers to want but also not old enough to be considered classic yet. That means it's arguably the best decade from which to find used luxury bargains, and nearly all the major premium manufacturers have models from the Noughties that currently sell at rock bottom prices. Let's take a look at ten of the best expensive '00s cars that bargain hunters can now pick up for peanuts.
10 Lincoln Navigator
SUVs may be a huge trend at the moment, but that hasn't stopped older models from depreciating wildly. The Lincoln Navigator is a great example of this, as back in 2002 a base 4x4 Navigator retailed for $48,340, which when adjusted for inflation would be $73,584 today. And that's without the thousands of dollars of additional options that could be specced onto the car.
Buying a used 2002 Navigator off a lot in 2021 would likely cost buyers no more than $6,000, at least for a higher mileage example. Given how crazy some parts of the used car market have become since the pandemic began, that's nothing short of a steal for what buyers get.
9 Audi A8
Big, executive sedans have largely fallen out of favor in recent times, although back in the early '00s sales were still strong. Even so, Audi's A8 struggled to compete with rivals like the BMW 7 Series and Mercedes S Class, and never managed to match either in terms of sales figures.
It's no surprise then that after nearly 20 years, there's almost no value left in these cars. Despite a hefty asking price of $121,770 for a top-spec 2007 A8, used models can now be picked up for around $8,000. A slightly higher budget of $12,000 should get buyers a car in better condition. It should also have the majority of its luxury features in full working order, a rarity in older executive cars.
8 BMW X5
One of the earlier successful luxury SUVs, BMW first released the X5 at the end of the '90s and saw consistently strong sales throughout the '00s. First-gen E53 models are now between 14 and 21 years old, and reports say they're fairly reliable, at least by BMW standards.
A budget of just $5,000 should be enough to score a cheap running X5, but it's advisable to spend a little more and get a car that's in as good condition as a buyer can afford. After all, that should stop expensive repair costs piling up down the line.
7 Mercedes-Benz SL 500
Another segment that's seen a significant drop in interest over the past twenty years is the convertible. The reasons behind the change in buying preferences is largely unknown, but it does seem to have impacted the value of used high-end convertibles like the Mercedes SL 500.
The trouble is that when few buyers want a new premium drop-top, there are even fewer buyers that will consider getting an older one. A budget of $8-9,000 should give buyers plenty of choice on the used market, which is crazy considering back in 2001 the car retailed for $83,800. Adjusting for inflation, that's an equivalent MSRP of $129,519 today.
6 BMW 7 Series
BMW's executive sedan offering is another model that suffers from a seemingly endless spiral of depreciation. One explanation for this could be that cars of this nature tend to focus on cutting-edge technology and luxury, and as new tech is constantly evolving, each car becomes outdated very quickly.
Whatever the reason, it means that there's plenty of sweet deals to be scored on the used 7 Series. The cheapest 7 Series come in at under $5,000, although they're likely to require a lot of repairs which if done at a dealership could be very costly. Still, for those willing to take on the project themselves, a 7 Series makes a dirt-cheap used luxury barge.
5 Jaguar XJ Vanden Plas
On the subject of luxury barges, the Jaguar XJ is another executive's car that's a steal to buy today. The top-level Vanden Plas version provides all the old-school luxury that a buyer could want, and cheap examples can cost less than $7,000.
It's worth noting that old Jags are notoriously unreliable, and they do look a lot more dated than many other cars from the era. But, for anyone who wants to buy the rolling equivalent of an old English stately home, the XJ Vanden Plas is the barge to get.
4 Cadillac Escalade
It's almost impossible to drive around town in certain parts of the US and not see a Cadillac Escalade, such is their popularity. Old cars that sold in large numbers can almost always be found cheap on used car lots, and the Escalade is no exception.
It won't take more than $6,000 to buy an early Noughties Escalade in most places. Owner reports seem to suggest that these cars can be reliable for several hundred thousand miles if they're looked after right, so the big Caddy might just be the best cheap luxury vehicle for long road trips or commutes.
3 Maserati Quattroporte
Many used buyers might well forget about the existence of the Maserati Quattroporte, and that's not really surprising. They've had a niche fanbase for decades, but the four-door Maseratis have largely failed to capture the attention of the wider luxury car-buying market over the years.
Buying a used one will cost the most out of all the cars on this list, as they start at around $13,000 for running examples. Still, that's dirt cheap for a four-door luxury Italian saloon with a Ferrari V8 under the hood. Maintenance will likely cost a fortune and Maseratis from the era do tend to exude a mid-life crisis kind of vibe but hey, it's about the cheapest Ferrari-engined car on the market right now.
2 Audi Q7
Audi's oldest SUV offering is the Q7, as it's been on sale since 2006. It's famously one of the roomiest luxury SUVs out there, and so it's a great choice for a well-depreciated luxury family hauler. Q7s also frequently reach mileages of over 150,000, so buying one with, say, 100k on the odometer should mean there's plenty of life left in it.
Late '00s models will cost somewhere in the region of $7-9,000, even for higher-spec trims. Out of all the SUV designs of the era, the Q7 is arguably the most modern-looking, and on the inside, it'll still be very luxurious too.
1 Mercedes-Benz S Class
For years, the Mercedes S Class sat at the top of the executive sedan pile, and today its sales figures remain fairly strong even in a market where interest in the segment has been waning. The S Class has always featured every cutting-edge piece of technology that Merc can throw in a car, which means even 20 year old ones can still appear surprisingly modern in some respects.
However, maintaining one of these cars will likely cost nearly the same as the car's used purchase price every year, which is why most owners prefer to get rid of them once they reach about 15 to 20 years old. Early '00s cars are now in that age bracket, and they can be picked up for as little as $5,000 despite retailing for up to $115,200 in 2002.