Mercedes G-Wagon's 'Depreciation-Proof' Reputation Takes a Hit as Used Prices Slip

The Mercedes-Benz G-Class has long been seen as a rare exception in the premium SUV market, holding about 65% of its value after five years compared to roughly 45% for the brand as a whole, according to iSeeCars. But new data shows that calling the G-Wagon 'depreciation-proof' is a stretch.

Part of the G-Class's strong resale value comes from deliberate scarcity. Mercedes sold fewer than 10,000 units last year, keeping demand high and prices above MSRP on the used market. A 2025 model averages $212,966 on the second-hand market, while a 2023 model averages $172,487 and a 2021 model averages $137,111, per iSeeCars.

However, the value eventually drops. A 2018 G-Class is estimated to sell for around $82,653, and a 2016 model goes for roughly $64,441. A 2015 model is down to $52,900, compared to a 2027 MSRP of $153,900, according to Vin Assessment. The CarBuzz Marketplace shows a five-year-old entry-level G-Class selling for about $112,840, down from an MSRP of $131,750.

The electric G-Wagon is a different story. An anonymous Mercedes executive told German newspaper Handelsblatt that the EV is 'sitting like lead at dealers' and called it 'a complete flop.'

Owning a G-Class is also pricey. RepairPal estimates annual maintenance at $1,461, CarEdge puts insurance around $5,030, and FuelEconomy.gov estimates $4,200 in gas costs, totaling $10,691 per year.

The article notes that a used G-Wagon is never a bargain, even at ten years old, and recommends a new Lexus GX as a smarter alternative. It also cautions against buying a G-Class as an investment, as few cars appreciate indefinitely.