Old luxury cars might look like a bargain, but they can also be a money pit
2 hours ago
- This silver 2004 Rolls-Royce Phantom is being offered for a pittance, with an asking price of $69,950.
- Featuring a smooth V12, luxury accommodation, suicide doors, and more, it’s a tempting offer.
- However, the sales ad reveals that the car underwent $78,913 worth of repairs last year, which should be a red flag for owners who want a bargain.
If I can make a bold claim, if you’re reading this website, you’ve likely fantasized about buying a slightly older luxury vehicle for a surprisingly small sum, and driving around in a posh car for much less than its asking price when it was new. Few listings bring reality crashing back into focus like this one, for a 2004 Rolls-Royce Phantom.
Offered with an asking price of $69,950, that seems like a remarkable bargain, considering it initially carried an MSRP of $320,000, which is the equivalent of a little over $531,000 today when accounting for inflation.
Read: Why Pay Rolls Royce $2,500 For A Part That BMW Sells For $160?
And for that, you get a Silver paint job, complemented by a Magnolia interior, alloy wheels, rear suicide doors, electric front seats, rear picnic trays, and the most important luxury of all, the Spirit of Ecstasy hood ornament, which retracts into the Phantom’s imperious grille.
Enthusiasts will no doubt also delight at the prospect of being propelled down the road by a 6.8-liter V12 engine that made 453 hp (338 kW / 459 PS) when it left the factory. But as we all know, that engine, and all of the other luxurious accommodations, might actually be a reason to steer clear of this Phantom.
Photos Beverley Hills Car Club
As has been noted before, when something goes wrong on one of these aging luxury vehicles, the bill adds up shockingly quickly. And this listing shows just how quickly, because one of the “selling features” it highlights is the $78,913.57 worth of work that the Phantom underwent in 2023.
While the ad proposes that this is a demonstration of “the meticulous care and attention that has been invested into this vehicle,” I would call it something else: a big ol’ red flag that should wave away people looking for a bargain unless they’re prepared for the maintenance costs that come with it.
Photos Beverley Hills Car Club
To interpret the ad on the Beverley Hills Car Club generously, the nearly 80 grand that has been dumped into this Phantom does likely mean that a lot of the work has been taken care of. However, it’s also a demonstration of just how out-of-hand repairs can get for a ride this complex and luxurious.
So if you can’t afford to buy this car twice (and then some), it’s probably best to walk away – unless you are brave enough and aware that fixing anything that may go wrong in the future will probably come with a substantial bill.