Luxury cars
Cadillac Escalade: $75,195
There are some pros to buying a luxury car, but they don’t outweigh the costs associated with owning one. Most luxury cars are made with higher-quality materials, have better handling and might provide a better ride than a mid-level car. However, luxury models of mid-level brands often come with the same bells and whistles as a luxury car for less.
For example, a Cadillac Escalade and a Chevrolet Tahoe share many mechanical components, but the Escalade starts at $75,195, while the Tahoe starts at $47,900. There are also additional costs associated with owning a luxury car compared to a standard vehicle. Most luxury cars require premium gas, come with higher insurance rates and have more expensive replacement parts and repair costs.