Man had his used Maybach 62 inspected and found it needed $25k worth of repairs, thinks it's time to sell

This guy bought a used Maybach 62 for a pittance, but he now needs a fortune to repair it.

If we awarded prizes for the fastest depreciating cars in history, the Maybach 62 would be a semi finalist at least.

And this video shows you why.

But, fortunately for this owner, not all is lost.

DISCOVER SBX CARS: The global premium car auction platform powered by Supercar Blondie

Why this Maybach 62 was so cheap to buy

Tyler Hoover, the man behind the Hoovies Garage YouTube channel, bought a used Maybach 62 for about $40,000.

For the record, this car was worth half a million when it was new.

There are several reasons why this car lost so much of its value.

For starters, its size and purpose didn’t help.

The Maybach 62 is a massive limo designed for heads of state or celebrities.

The name is a reference to its length – 6.2 meters. There was also a 57 model (5.7 meters).

It’s big, wide and generally speaking, not a car you can use for the school run unless you’re actively trying to show other parents up.

The second reason is a lethal combination of reliability and maintenance costs.

The old mantra – if you can’t afford maintenance, you can’t afford the car – applies here.

Hoover’s Maybach had a problem, which led to a $25,000 repair bill because of brake, suspension and battery issues.

You can buy a brand new car for that amount of money.

Unsurprisingly, Hoover is thinking about getting rid of the car now.

The interesting story behind the Maybach

We mostly associate Maybach with Mercedes but Maybach was actually founded as a standalone brand in 1909.

This means it technically preceded Mercedes as we know it, which was only founded in 1926.

That’s because in 1926, Maybach’s and Mercedes’ founders got together and decided to merge Daimler, which is what Mercedes was called back then, with Maybach to create the new brand.

A bit simplified perhaps, but that’s more or less what happened.

Then, in 1960, Mercedes fully acquired Maybach and, today, Maybach is basically to Mercedes what AMG is to Mercedes or what M is to BMW.

Aside from the aforementioned 57/62 model, Maybach and Mercedes created some pretty spectacular cars, from the one-off Exelero to the several high-profile S-Class versions.