A few years ago, spending six figures on a luxury electric sedan wasn’t unusual. Automakers were racing to build flagship EVs packed with the latest technology, and buyers eager to experience the future were willing to pay a premium.
Today, the story looks very different.
The Mercedes-Benz EQS, once positioned as the electric equivalent of the S-Class, has become one of the most heavily depreciated luxury vehicles on the used market. In some cases, examples that originally sold for well over $100,000 can now be found for less than $40,000.
That’s a staggering drop for a vehicle loaded with advanced technology, luxury features, and long-range electric capability.
For used-car shoppers, however, that depreciation may have created one of the most interesting luxury EV opportunities available today.
The Mercedes-Benz EQS Was Designed to Showcase the Future
When Mercedes-Benz launched the EQS, it wasn’t intended to be just another electric car.
The company wanted a flagship EV that could demonstrate what its future vehicles would look like, feel like, and offer from a technology standpoint.
The result was the Mercedes-Benz EQS, a luxury sedan built around a dedicated electric platform and filled with features that were uncommon even among premium vehicles.
Highlights included:
- Rear-wheel steering
- Advanced driver-assistance systems
- HEPA air filtration
- Massive digital displays
- Ultra-low aerodynamic drag
- Fast-charging capability
- Luxury-focused cabin technology
Mercedes-Benz also paid enormous attention to efficiency. The EQS became known for its slippery aerodynamic design, helping maximize driving range while reducing energy consumption.
On paper, it looked like a vehicle capable of leading the luxury EV segment for years.
The Problem Was Never the Technology
The surprising thing about the Mercedes-Benz EQS is that its biggest challenge wasn’t performance, charging speed, or technology.
It was perception.
Luxury buyers have traditionally associated Mercedes-Benz flagship sedans with powerful gasoline engines, effortless highway cruising, and the prestige that comes with owning an S-Class.
The EQS attempted to replace that experience with a fully electric alternative.
While many customers appreciated the technology, others simply didn’t view the EQS in the same way they viewed Mercedes-Benz’s traditional flagship models.
That difference in perception would eventually have a major impact on resale values.
Mercedes-Benz EQS Depreciation Has Been Brutal
Few modern luxury vehicles have lost value as quickly as the EQS.
When new, many versions of the Mercedes-Benz EQS carried price tags exceeding $100,000. Higher trims and heavily optioned examples pushed even further into six-figure territory.
Fast-forward a few years, and the numbers tell a dramatically different story.
Many early EQS models now trade hands for a fraction of their original purchase price.
For buyers entering the used market, that’s great news.
For original owners, it’s a very different story.
Why Values Fell So Quickly
Several factors combined to create the perfect depreciation storm.
The first was the broader luxury EV market.
As competition increased, manufacturers introduced newer models with improved battery technology, faster charging, and longer range. This made older luxury EVs feel outdated more quickly than traditional luxury sedans.
The second factor was aggressive pricing adjustments.
As automakers fought for market share, incentives and factory discounts became increasingly common. New vehicle pricing pressures naturally pushed used values lower.
The third issue involved consumer demand.
Luxury EV shoppers tend to be early adopters who frequently upgrade to the latest technology. As newer models arrived, many original EQS owners moved on to newer vehicles, increasing used-car inventory and putting additional downward pressure on prices.
The Lease Market Made Things Worse
The lease market played an important role in accelerating depreciation.
Luxury flagship vehicles are frequently leased rather than purchased outright. Many customers prefer driving a new vehicle every few years before moving into something newer.
When the Mercedes-Benz EQS launched, future residual values were expected to remain relatively strong.
That didn’t happen.
As lease terms expired, many vehicles returned to dealerships worth significantly less than projected.
Faced with buyout prices that exceeded actual market value, many lessees simply handed the keys back.
Dealers were then left with growing inventories of used EQS models that needed to be sold.
As more vehicles entered the market, prices continued falling.
The result was a cycle that accelerated depreciation across the entire EQS lineup.
Why Used Mercedes-Benz EQS Models Are So Cheap Today
Several concerns continue to influence the used market.
Some shoppers remain cautious about purchasing older luxury EVs because of battery-related concerns, long-term repair costs, and rapidly evolving technology.
Others worry about expensive electronics once warranty coverage expires.
The EQS is packed with sensors, cameras, software systems, and advanced technology features. While these systems contribute to the vehicle’s luxury experience, some buyers question what ownership costs may look like years down the road.
Range anxiety also remains a factor for certain shoppers, particularly those without convenient access to charging infrastructure.
Whether those concerns are justified or not, they have contributed to lower demand compared with traditional luxury sedans.
Why Smart Buyers Are Paying Attention
The same factors that hurt early owners are creating opportunities for second-hand buyers.
A used Mercedes-Benz EQS offers access to technology, comfort, and refinement that would have required a six-figure budget only a few years ago.
Features such as rear-wheel steering, advanced cabin filtration, premium materials, and sophisticated driver-assistance systems remain impressive regardless of how much the vehicle has depreciated.
For shoppers willing to research battery health, service history, and warranty coverage, the used EQS market offers an unusual opportunity to experience flagship-level luxury for the price of many mainstream vehicles.
The challenge isn’t finding a cheap EQS.
The challenge is knowing which one represents the best value.
Where the Best Mercedes-Benz EQS Deals Are Right Now
Not every used EQS represents the same value.
Some examples have accumulated high mileage and already exhausted much of their factory warranty coverage. Others remain relatively new and still carry significant manufacturer protection.
For buyers considering a Mercedes-Benz EQS, the market currently falls into three broad categories.
Budget Tier: Luxury EV for the Price of a Family Sedan
This is the category grabbing the most attention.
Early-production EQS models with higher mileage can often be found in the low-to-mid $30,000 range. That’s remarkable considering many of these cars originally carried six-figure price tags when new.
Most vehicles in this bracket are 2022 model-year EQS 450+ or EQS 450 4MATIC examples that have accumulated substantial mileage.
For shoppers prioritizing value above all else, this tier offers access to flagship Mercedes-Benz luxury at a price point that would normally buy a well-equipped mainstream sedan.
The trade-off is obvious.
Many of these vehicles are approaching or have already passed portions of their original warranty coverage, making vehicle history and maintenance records especially important.
The Mercedes-Benz EQS Sweet Spot
For most buyers, the smartest place to shop isn’t at the very bottom of the market.
It’s one step above it.
A budget between $45,000 and $52,000 opens the door to lower-mileage Mercedes-Benz EQS models that still have plenty of life left in them.
This section of the market typically includes:
- Lower-mileage EQS 450+ models
- EQS 450 4MATIC examples
- Select EQS 580 4MATIC vehicles
- Certified Pre-Owned inventory
At these prices, buyers gain access to newer hardware, stronger battery health, and a better chance of finding vehicles with warranty coverage still intact.
The initial depreciation hit has already occurred, but owners avoid many of the compromises associated with the cheapest examples on the market.
For shoppers balancing cost, condition, and long-term ownership potential, this remains the most attractive segment of the used EQS market.
Premium Tier: Nearly New Without the New-Car Price
Some buyers simply want the newest and most desirable examples available.
That means shopping in the upper end of the used market.
Spending between $70,000 and $85,000 can put buyers behind the wheel of newer Mercedes-Benz EQS models, including highly equipped versions and performance-oriented variants.
At this level, buyers typically benefit from:
- Lower mileage
- Longer warranty coverage
- Newer production updates
- Better overall condition
- Higher equipment levels
The downside is obvious: depreciation may not be finished yet.
While these vehicles remain significantly cheaper than they were when new, they could still experience meaningful value declines over the next several years.
For many shoppers, the Sweet Spot tier delivers a better balance between price and ownership costs.
BMW i7 and Lucid Air Could Follow a Similar Path
The EQS isn’t the only luxury EV experiencing heavy depreciation.
Several high-end electric sedans are showing similar trends.
BMW i7
BMW’s electric flagship entered the market with premium pricing and impressive technology. However, early depreciation trends suggest values have fallen quickly compared with traditional luxury sedans.
For buyers willing to wait, the BMW i7 may eventually present opportunities similar to those currently seen with the EQS.
Lucid Air
The Lucid Air impressed reviewers with its range, performance, and advanced technology.
Yet the luxury EV startup faces the same challenge confronting much of the industry: rapid technological change.
As newer models arrive and inventory expands, used values have also come under pressure.
Buyers who missed the first wave of luxury EV ownership may eventually benefit from substantial discounts on both the Lucid Air and BMW i7.
Understanding Mercedes-Benz EQS Warranty Coverage
One of the most important parts of any used EV purchase is warranty coverage.
Fortunately, the Mercedes-Benz EQS includes separate protection for its battery system.
The original vehicle warranty covers the car for a limited period based on age and mileage, while the battery receives significantly longer coverage.
For buyers considering an older EQS, checking the following is essential:
- Remaining factory warranty
- Battery warranty status
- Service history
- Recall completion records
- Software update history
Unlike many traditional used-car purchases, battery condition plays a major role in determining long-term value.
A thorough inspection can provide valuable peace of mind.
Why Certified Pre-Owned Models Are Worth Considering
Not every used luxury EV is created equal.
Many buyers prefer Certified Pre-Owned vehicles because they undergo additional inspections before being offered for sale.
A Certified Pre-Owned Mercedes-Benz EQS generally provides several advantages:
- Vehicle inspection process
- Verified service history
- Additional warranty protection
- Roadside assistance benefits
- Greater purchase confidence
The upfront cost is often higher than buying from a private seller, but some shoppers find the extra protection worthwhile.
When dealing with a vehicle loaded with advanced technology, the added reassurance can be valuable.
The Mercedes-Benz EQS Prioritizes Comfort Over Sportiness
Anyone expecting a luxury sports sedan may be surprised by the EQS.
Mercedes-Benz designed this vehicle around comfort rather than aggressive driving dynamics.
That’s immediately noticeable from behind the wheel.
The cabin remains exceptionally quiet, ride quality is smooth, and long-distance travel feels effortless.
Rear-wheel steering helps the large sedan maneuver through parking lots and tight urban environments with surprising ease.
Even though the vehicle is physically large, it often feels much smaller from the driver’s seat.
What the Driving Experience Is Actually Like
Acceleration is immediate, particularly in higher-output versions.
The EQS 580 can deliver strong bursts of speed whenever requested, making highway merging and overtaking almost effortless.
What it doesn’t provide is the kind of steering feedback or brake feel that driving enthusiasts often seek.
Instead, the Mercedes-Benz EQS focuses on making journeys relaxing.
It’s the kind of car that excels during long highway trips, where comfort, refinement, and low cabin noise matter more than razor-sharp handling.
The Biggest Question Isn’t Whether the EQS Is Good
At this point, most people agree that the Mercedes-Benz EQS is a highly advanced luxury vehicle.
The real question is whether its depreciation has finally made it a bargain.
For buyers willing to accept the realities of EV ownership, the answer may be yes.
Very few vehicles offer this level of technology, comfort, and prestige at current used-market prices.
A few years ago, owning an EQS required a six-figure budget.
Today, the right used example can cost less than many new family sedans.
That’s a dramatic shift in value—and one that continues to attract attention from luxury buyers looking for something different.
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