In 2026, for about the same price as a new Honda Accord, you can buy a used flagship luxury sedan with world-record aerodynamics, a four-wheel steering system for golf-cart maneuverability, HEPA cabin air filtration, and a built-in Power Nap recovery program that gives drivers a fifteen-minute quick charge, while their battery also gets a fifteen-minute quick charge.
The amount of tech in the Mercedes-Benz EQS is absolutely astounding, but that doesn’t protect it from suffering some of the most significant initial depreciation hits ever seen by a modern car. Below, we dig into what happened to the wallets of early owners, how you can benefit from it, and whether the BMW i7 and Lucid Air might be next in line.
It Was A German Luxury EV Moment
2022 – 2024 Mercedes-Benz EQS Sedan V297 (1st Gen)Mercedes-Benz
When Mercedes-Benz launched the EQS range for the 2022 model year, the intention was to create its first-ever electric flagship: a battery-powered S-Class, if you will. This new all-electric offered both sedan and SUV body styles, carried a tremendous amount of next-generation development work into production, and flaunted no shortage of design and technological touches (and a matching price tag) befitting a world-class flagship.
Initially priced well into six-figure territory, the EQS in 2026 is earning a place in the history books as one of the fastest-depreciating luxury flagships ever built, available today second-hand for less than $40,000 after its original owner took a massive depreciation write-off and left most of the warranty coverage behind for you.
2022 Mercedes-Benz EQS: Selected Specifications
EQS 450+
EQS 580 4MATIC
Drive system layout
Rear-wheel drive
All-wheel drive
Output
329 HP
516 HP
Max. torque
417 lb-ft
631 lb-ft
Acceleration 0-60 mph
5.9 seconds
4.1 seconds
Top speed
130 MPH
130 MPH
On-board charger (standard/option)
9.6kW
9.6kW
Charging time (AC charging, 9.6kW)
11.25 hours
11.25 hours
Charging time (DC rapid charging station (DC)
31 minutes
31 minutes
DC charging capacity, max.
200 kW
200 kW
DC charging in 15 minutes (approx)
186 miles
174 miles
While this doesn’t necessarily make a second-hand EQS a great idea for everyone, it does represent an opportunity to get a taste of the cutting-edge motoring high-life at an incredible cost advantage, provided you play it smart. If that sounds like your cup of tea, read on for a closer look at what you need to know to make the most informed purchase decision possible.
Second-Hand Values Rapidly Fell Off A Cliff
2022 – 2024 Mercedes-Benz EQS Sedan V297 (1st Gen)Mercedes-Benz
If you average the starting MSRP of every model grade 2022 Mercedes-Benz EQS available, you’d come up with a figure of about $113,000, before additional packages, add-ons, or destination fees.
Before long, the market quickly concluded that a combustion engine was a key part of the Mercedes-Benz luxury flagship experience. Case in point? Last year, we reported that a two-year-old gas-fired 2023 Mercedes-Benz S500 would be worth 59% of its original value, with an S580 worth about 67% of its original value in 2025. The S580e PHEV retained the largest share of its original value in that comparison, at 73%. Conversely, the all-electric EQS sibling was holding on to just 35% of its original value over the same timeline.
Put simply, without a gas engine on board, Mercedes-Benz luxury flagship models depreciate at about double the rate of their gas-fired counterparts. In dollars and cents, that could be $50,000 or more wiped from the EQS’s value in just a single year – and that was just the first problem.
The second came from the way many people buy cars like the EQS. Customers opt for short-term leases to take in the latest thing for a few years, then returning the car before the warranty’s up to try something else. For this shopper, the EQS isn’t an emergency buy or their only vehicle. It’s a monthly budget item to drive something new and exciting, until something newer and more exciting comes along.
2022 Mercedes-Benz EQS Valuation: Then vs. Now
Original MSRP (2022)
2026 KBB Trade-In Value
2026 KBB Private Party Value
2026 KBB Fair Purchase Price
EQS 450+ Premium
$102,310
$28,300
$32,900
$35,000
EQS 450+ Exclusive
$105,710
$28,300
$32,900
$35,000
EQS 450+ Pinnacle
$108,510
$28,300
$32,900
$35,000
EQS 580 4MATIC Premium
$119,110
$35,200
$39,700
$42,200
EQS 580 4MATIC Exclusive
$122,510
$35,200
$39,700
$42,200
EQS 580 4MATIC Pinnacle
$125,310
$35,200
$39,700
$42,200
End-of-lease values are calculated up front, so both parties know the vehicle’s value when it’s returned, before the paperwork is signed. Mercedes predicted high resale values for the EQS, which helped keep monthly lease payments down. As outlined by Lectrium.com, when lease models like these were returned, they were worth considerably less than originally predicted.
2027 Mercedes-Benz EQSMercedes-Benz
Owners naturally returned the vehicles rather than buying them out for more than they were worth, leaving dealers to absorb massive depreciation costs as hard-to-sell inventory piled up. Many models would be auctioned off at wholesale to the lowest bidder, adding more low-cost supply to the market, which dragged prices down further.
Rapid turnover in EV tech also meant that old EQSs would quickly become yesterday’s tech, which didn’t do resale values any favors. Finally, for 2026, five-figure factory price reductions and value enhancements applied to the latest EQS would further push prices of older units down the ladder.
With up to 350 sensors equipped, some owners also saw a second-hand EQS as a potentially high-cost electronic liability as it aged. Add in some lingering range anxiety, general EV apprehension, immature charging networks, and shoppers who might avoid first-year models or new technologies, and you have a perfect storm for legendary depreciation.
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What Smart Shoppers Should Pay For A Second-Hand EQS Today
2022 Mercedes-Benz EQS 580 4MATIC Sedan. Recharging. Side profileMercedes-Benz
Today, that leaves the second-hand EQS shopper looking at a market full of alternatives that fall into, more or less, three pricing tiers.
Budget Tier
2022 – 2024 Mercedes-AMG EQS V297 (1st Gen)Mercedes-Benz
The first of these is the Budget tier, with models landing between $31,000 and $40,000. These are typically early‑run 2022 EQS 450+ and 450 4MATIC models with 40,000 to 90,000 miles which have already taken the heaviest depreciation hits. If you’re not scared of miles and want a flagship luxury experience for the price of a mid-spec Camry, this headline-grabbing pricing tier is where you should be looking. Note that units priced in the low $30,000 range have often done 60,000 miles or more, taking them out of their new-car warranty period.
Sweet Spot Tier
2022 – 2024 Mercedes-AMG EQS V297 (1st Gen)Mercedes-Benz
We call the next category the Sweet Spot tier. Here, set a budget of $45,000 to $52,000 to access low-mileage 450+, 450 4MATIC, and mid‑mileage 580 4MATIC models. At this price point, you’re getting newer hardware, better battery health, and plenty of CPO-certified models available. Though the cheaper Budget tier models come with more compelling pricing, cars in the Sweet Spot tier should prove the best overall mix of price, performance, and remaining lifespan for your EQS experience.
Premium Tier
2022 – 2024 Mercedes-AMG EQS V297 (1st Gen)Mercedes-Benz
Is it worth spending more? Maybe, maybe not. In our highest tier, you can find Premium and AMG-equipped options, provided you’re willing to dish out $70,000 to $85,000. For that, you’re in a nearly-new 2024-2025 EQS or AMG EQS 4MATIC+ performance variant. Buyers seeking flagship performance, maximum prestige, and the longest possible time before the new car warranty runs out may find these machines worth the extra cost. However, most of us would probably find what we need in the first two pricing tiers.
Keep Your Eye On The BMW i7 and Lucid Air, Too
2022 Mercedes-Benz EQS Sedan. Cabin. Interior. MBUX HyperscreenMercedes-Benz
If you’re not quite ready to make your move on a highly depreciated luxury EV just yet, your patience may be rewarded with additional options. The all-electric BMW i7 luxury flagship launched 2023 is showing similarly massive up-front depreciation, with three-year depreciation clocked at 55.5% according to data from iSeeCars.com. That’s a nearly $59,000 drop in value after just three years, with five-year forecasts putting this machine’s residual value at under $30,000.
The same data shows the Lucid Air (launched 2022) with a three-year depreciation of over 51%, for a residual value today of about $35,000. By the 5-year mark, residual value is predicted to drop to around $26,000.
Understanding The EQS Warranty And Your Certified Pre-Owned Options
2022 Mercedes-Benz EQS Sedan. Cabin. Interior. Rear seatsMercedes-Benz
According to the 2023 model year warranty pamphlet for the Mercedes EQ models, the Basic Warranty of all models is four years or 50,000 miles, whichever comes first. Take note of where the used model you’re considering sits in terms of mileage and age against this basic warranty coverage.
Mercedes-Benz issues a battery warranty for its high-voltage batteries and thus a performance promise to customers: A term of 10 years or 155,000 miles with a remaining capacity of 70 percent.
The high-voltage battery carries additional warranty coverage, but none of it protects you from damage or wear resulting from neglect, abuse, or failure to maintain the vehicle properly. Some shoppers prefer to go with a Certified Pre-Owned (CPO) model from a dealership. A CPO-certified Mercedes-Benz must be no more than 6 years old, carry less than 75,000 miles on its odometer, be up to date on all servicing, and include a history report.
The CPO models also get road tested and must pass a 165-point inspection. Opting for a CPO-certified model could cost you more money than a private-market sale, but vehicles are held to a much higher standard before being offered for sale. Unlimited-mileage warranty packages can be added for 1 or 2 additional years. Your dealer has the scoop.
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This Is A Comfort First Setup
2022 – 2024 Mercedes-Benz EQS Sedan V297 (1st Gen)Mercedes-Benz
On the road, the EQS should readily impress most drivers in most situations. In winter driving, the AWD system is seamless and fast-acting, while the backup camera stays hidden (and clean) within the trunk assembly, only popping out when reverse gear is selected. Straight-line performance, especially on 580-designated models with the big battery, is punchy and aggressive from the first touch on the throttle. However, steering and (especially) brake pedal feel will likely prove too vague for enthusiast drivers who crave feedback.
This machine is expert at making long distances disappear in comfort and calm, and the after-dark experience from its ambient lighting system is not to be missed once the sun goes down. To summarize, it’s not the ideal EV for the luxury performance enthusiast, but it hits hard as one of the market’s most compelling alternatives for a beautiful drive, taken in from a next-generation flagship cabin.
Sources: Lectrium.com, Mercedes-Benz, iSeeCars, KBB.com
