You Can Get A Used Mercedes EQS EV For Toyota Camry Money. Should You?

• Depreciation has hit the Mercedes-Benz EQS hard.
• A new one will set you back at least $100,000, but on the used market, prices start at roughly $30,000.
• With a 10-year warranty for the high-voltage battery, the EQS makes a lot of sense as a used car.

As much as we like EVs around here, the fact is that battery-powered cars depreciate harder than their combustion counterparts. This is especially true with luxury EVs, where used prices plummet even after two years.

We’ve covered the Porsche Taycan and Lucid Air, both of which are amazing EVs that can be had for less than half their original price tags. Now, though, it’s time to check out the elephant in the room of electric luxury cars–the Mercedes-Benz EQS sedan.

Photo by: Mercedes-Benz

With styling only a mother could love, the luxury EV has struggled to find an audience ever since it debuted in 2021. It’s supposed to be the electric equivalent of the combustion-powered S-Class, which is regarded by many as being the best car in the world. But the EQS’ egg-like shape and $100,000+ price tag were too much for EV early adopters, while regular oil magnates just stuck with gas-powered luxury barges.

Now, though, a used EQS starts from around $30,000, which is a third of the cost of a new one. And let’s not forget that, despite its laggard sales, the German electric flagship is a fantastic car. Most units listed for sale are of the 450+ variety, which has an EPA-rated range of 340 miles. But you can even get some 580 4Matics for around $40,000, giving you more power and all-wheel drive.

The base 450+ trim comes with rear-wheel drive and 329 horsepower, while the 450 4Matic adds a second electric motor on the front axle for a total output of 355 hp. The EQS 580 4Matic, meanwhile, flaunts 516 hp. That’s more than enough for any scenario, and the EQS has consistently delivered more driving range in the real world compared to what it says on the window sticker, so range anxiety isn’t part of the ownership experience.

However, as with any luxury car, especially one that’s selling for a third of the price, the repair bills are directly related to its MSRP, and not what the used market dictates. And with a million gizmos that cater to the occupants’ needs, the EQS may transform from the purchase of a lifetime to a nightmare.

That’s why manufacturer and extended warranties exist, though. In the U.S., every new Mercedes-Benz comes with a four-year warranty, and the EQS has a 10-year or 155,000-mile warranty for the high-voltage battery. Even without a warranty, though, if you look for a car that’s been well taken care of, there shouldn’t be any major issues.

YouTuber Infinite Shifts, who drove a used EQS in the video below, said that for $30,000, it’s definitely worth getting one, as long as there’s a manufacturer warranty still valid.

When it comes to actually owning an EQS, Keith Davis, who has been driving a 2023 Mercedes-Benz EQS 580 for two and a half years, says the car is fantastic to own. As long as the car is in good shape and has been cared for by a reputable dealer, the EQS is a no-brainer. That said, the depreciation is brutal, so don’t expect to sell it for more than what you paid.

During his ownership, Davis had to pay for the Mercedes-Benz digital services, which include a bunch of software features. This costs either $15 per month or $150 per year. After two years, the free Electrify America charging was also gone, so DC fast charging had to be paid out of pocket.

Just one sensor had to be replaced since new, so reliability really hasn’t been an issue with this particular car, but there are EQS EVs out there that have had their high-voltage batteries replaced under warranty.

That’s in line with similarly priced Porsche Taycans and Lucid Airs, both of which are very good luxury EVs with eye-watering price tags when new. They’re all well-engineered cars, but you have to know what you’re getting into, because if something goes wrong and there’s no warranty, the repair bills could go through the roof. That’s the danger of buying used luxury cars: Even if they’re cheap now, they’re still made of expensive parts.