13 Cheap Luxury Cars You Can Buy On a Budget In 2024

Cars, like anything prefixed or associated with luxury names, are expensive. But it doesn’t have to be that way. These 13 cars offer all the luxury you could want on a budget.

There are two ways to get more for your buck. The apparent choice is a scout around the used car market. With careful planning, you get a lot of luxury for your cash, including all the big premium European brands like BMW and Mercedes. More interesting, a growing number of new carmakers looking to cash in on the luxury market cram their cars full of kit you would generally pay more for. Here, Lexus and Genesis are your best bet. As for homegrown luxury, what better place to look than your local Cadillac dealer?

1. Jaguar XJ

Gone but not forgotten, the Jaguar XJ is one of the finest luxury cars any gearhead could aspire to. In its final incarnation, Jaguar gave the XJ (X351) a modern facelift and revised interior full of leather, carbon, and aluminum details. 

However, the winning combination of lightweight aluminum bodywork and powerful V8 engines makes owning one a dream. Step on the gas pedal, and an all-alloy supercharged V8 sends 550 hp to reach wheels, launching the XJ to 60 mph in 4.2 seconds.

2. Bentley Continental GT W12

Bentley turns the luxury dial-up several notches. The Continental GT features enough wood and leather to rival a country estate.

Understandably, Bentleys are anything but affordable, starting at $242k. But thanks to steep depreciation and high running costs, used cars and even premium models are within reach. W12-engined GTs with 550 hp under the hood are easy pickings for gearheads, where only the best will do.

3. Range Rover

Born in the 1970s, the Range Rover is the original luxury off-roader. Over four decades later, the world’s best 4×4 has evolved into a luxury car to rival even the most premium sedans.

Most gearheads view the luxury SUV as a high-riding go-anywhere vehicle. But there is more to the Range Rover than its appearance suggests. Thanks to a shared JLR 510 hp supercharged V8, the big SUV is surprisingly athletic, reaching 60 mph in 5 seconds.

4. Maserati Quattroporte S

On style alone, Maserati is up there with the very best. The Quattroporte combines all the panache you would expect from a brand steeped in racing history with unadulterated luxury to rival any of its peers.

Ownership can be a double-edged sword. Maserati isn’t known for its build quality and dependability. However, they are enticing bargains if you overlook a few quirks. Even $30k will secure a three-year-old Quattroporte S packing a turbocharged 3-liter 410 hp V6 courtesy of Ferrari.

5. Alfa Romeo Giulia Ti

Like Maserati, Alfa Romeo is another Italian marque steeped in racing history. While its racing days might be over, Alfa Romeo is alive and kicking, focusing on luxury premium models over performance.

The Giulia boasts an upscale interior adorned with leather, carbon, and aluminum accents tailored to individual tastes. Performance is still a trait Alfa owners demand. Following the current trend of smaller turbocharged four-cylinder engines, the Giulia boasts 280 hp.

6. Mercedes-Benz S550 

Once the preserve of high-powered, sharp-suited millionaires, the S-Class was a sign of business success. How times have changed? The S-Class is easily within reach, thanks to stiff competition from Japanese and Korean brands.

Choice with the big Mercedes is abundant. Dozens of model variants mean there is an S-Class to suit every budget. 2010-2016 W222 models range from $14k to $25k boasting Mercedes M278 bi-turbo V8 cranking out 455 hp.

7. BMW 740e

Arch rival to Mercedes, BMW is no stranger to the luxury car market, producing a range of tempting options. Oddly, the German carmaker promotes the 7-series as its flagship model.

Whether you buy a new or older 7-series is a matter of taste. However, a sixth-generation G11 should be on your shopping list, thanks to its more aggressive, cosmetically pleasing front end. In Production until 2019, the 740e is stunning value for money and fast. Under the hood, a turbo-hybrid powertrain turns out 322 hp.

8. Audi A8

In this company, the Audi A8 is a sleeper. But don’t be fooled by appearances. Its understated styling hides a capable all-wheel-drive chassis, and its potent V8 makes it a sensible choice for flying under the radar.

Crammed full of technology, the A8 is more of an executive business jet than a car. Every surface and button has been meticulously thought out and planned, employing a less is more approach. No such restraint is present under the hood. Audi’s FSi V6 cranks out 355 hp, ensuring a brisk escape is never more than seconds away.

9. Volkswagen Phaeton W12

Admittedly, Volkswagen generally isn’t a name associated with luxury cars. That’s not to say the German carmaker hasn’t dipped its toe into the market. As long ago as 2002, the Phaeton debuted with a choice of engines.

By 2016, the Phaeton disappeared, leaving most gearheads unaware of the VW Super sedan. Poor sales are a used car buyer’s dream. Top-tier Phaetons sporting a 460 hp 6-liter W12 are bargains at $15k, provided you can find one.

10. Lexus ES350

In 1989, Lexus challenged and succeeded in conquering the luxury car segment with the LS400. Thirty years later, the story hasn’t changed. Any new or used Lexus is a sound buy for gearheads on a budget.

The ES350 is a prime example. While outside, it might be a touch too modern for some, on the inside, it’s a different story. A tastefully restrained cockpit is quiet and relaxing, oozing class and refinement. Under the hood, power comes from a front-mounted 3.5-liter V6 rated at 302 hp.

11. Genesis G80

Genesis is a relative newcomer making its debut in 2015. And what an impact it has made since. Every current model represents unrivaled value for money, often drawing comparisons to Bentley. High praise indeed.

Sitting near the upper end of the Genesis model line-up is the G80. Starting at $55k from the new, the G80 is a credible alternative to any BMW or Mercedes offering, with superior trims. Performance fans aren’t left out. Under the hood, Genesis provides a choice of four and six-cylinder engines producing up to 380 hp.

12. Volvo S60

Quietly understated and often overlooked, Volvo’s reputation is one of safe and reliable cars. More recently, behind the scenes, thanks to Polestar, Volvo has boosted its luxury image.

Upmarket interiors boast a heady mix of modern design, quality materials, and a second-to-none finish level. Which begs the question: Why is the S60 so cheap? With little more than delivery miles on the clock, a 2024 S60 B5 packing a 247 hp engine costs $37k.

13. Cadillac CT5

At under $40k budget, luxury cars don’t get much better than this. Cadillac has nailed the value-for-money versus quality sweet spot perfectly. Sure, the choice of interior materials isn’t on par with Germany’s best, but the difference is minimal.

Refreshed for 2023, Cadillac worked hard to eliminate the CT5s niggles; finding fault to avoid buying one is tricky. But for most gearheads, the allure of speed is sure to be a decisive factor. One step further and a worthy one, CT5-V spec costs a bit more but yields a turbocharged 335 hp V6.