Cadillac had a strong fiscal year in 2025, selling 173,515 units, staying far ahead of longtime rival Lincoln, thanks to strong sellers like the Cadillac Escalade, with 49,355 units sold, and the Cadillac XT5, with 24,702 sales. The brand's Millennial-oriented positioning efforts have no doubt played a part in keeping Caddies relevant in an era where American luxury cars are looking more and more like something your grandpa would drive, but that seems to have done little to keep depreciation at bay in the case of the Cadillac Lyriq.You expect a luxury car to lose value fast, but our trending price tool shows 2023 models selling for well under half their initial MSRP of $61,795 after just three years on the road. Let's take a look and see what's going on here. Cadillac's First EV, Fully Loaded Cadillac The Cadillac Lyriq first launched in the US for the 2023 model year with a 340-hp rear-wheel drive model, and a 500-hp all-wheel drive model. The 2026 Lyriq offers a wider range of trims and options, and a significant power bump.If we're going fully loaded, that means we're looking at a V-Series Premium, which clears 60 mph in just 3.3 seconds, starts at an MSRP of $85,590, and packs all the following as standard features. Nappa leather interior Panoramic power sunroof AKG Studio premium 23-speaker audio Augmented reality head-up display Lyriq-V exterior appearance with gloss black splitter, rocker extensions, and rear fascia valance 33-inch curved LED display 22-inch six-spoke reverse rim alloy wheels with satin graphite finish Brembo high-performance six-piston front brakes Heated and ventilated seats Driver power lumbar massage Alloy sport pedals Heated leather steering wheel When we last reviewed the Lyriq, for the 2024 model year, we were impressed by its composed, grounded feel on the road, the generous interior space, and the upscale cabin.We noted that the steering could feel a bit sportier, given this car's immense power, but, by and large, this is everything you ever wanted a Cadillac to be, and then some. Add in all of these top-trim goodies, and you've got the American Dream on wheels. A New Fully Loaded Lyriq Will Have You Spending Six Figures, After Taxes Cadillac If we want to go fully loaded, we can add all the following options. NACS DC Adapter – $275 Red brake calipers – $595 GM Energy PowerShift Charger – $1,999 Magnus Metal Frost exterior color (Extremely limited availability) – $3,995 Front license plate bracket – $15 Performance low-metallic brake linings – $100 Floor Liner Package – $425 Cargo Convenience Package – $550 Onyx Lite Package – $575 MobileService+ – $799 Trailer hitch – $1,170 Add this all up, and here's what we're spending before taxes.If we assume a sales tax as low as 6%, we're spending $101,853 before we even bring financing and titling into the picture. A Used Cadillac Has Never Looked So Attractive Cadillac The Lyriq's steep MSRP and its quick depreciation mean that it's hard to recommend a 2026 model to anyone who isn't pulling in movie star money. Meanwhile, a model that's just two or three years out of date is an easy buy for almost anyone who's been thinking of making the switch to electric.If we look at the trending prices for a 2023 Lyriq, we find that it is, on average, selling for a little more than half its original MSRP, with some models selling well below that number.According to CarEdge, the depreciation only gets worse from there, with the site projecting a 10-year value retention of just 23.74%. This fall-off will likely be even more pronounced in fully loaded models, as the market tends to even out once an SUV with all the flashiest new tech starts to look a bit dated.At present, the projections are roughly on par with the brand at large, but we can't be sure exactly how much value a Lyriq will lose in five, eight, or 10 years, until we see what sort of prices the car is commanding at those points. Older Lyriqs Are Cheap, And The Miles Can Be Very Low Cadillac Checking our own marketplace, we found the following for sale... A 26,468-mile 2023 Luxury model is selling for $36,598 in Georgia. A 12,346-mile 2023 Luxury model is selling for $31,999 in Illinois. A 96,138-mile 2024 Sport 3 model is selling for $31,995 in Florida. A 47,900-mile 2024 Sport 1 model is selling for $32,995 in Texas. A 15,928-mile 2024 Technology model is selling for $39,500 in Tennessee. It's actually something of a challenge to find a used Cadillac Lyriq with more than 50,000 miles on the odometer. The car's fast depreciation means that you could be spending around half the initial MSRP for something that still has its original tires. Is A Cadillac Lyriq Worth The Extra Maintenance? Cadillac The main reason you might not want to buy a used luxury vehicle? The cost of ownership. The cost of purchase may be a fraction of what the first owner paid for it, but you're spending just as much as they did on things like maintenance.A 2023 Cadillac Lyriq holds an unimpressive Quality & Reliability rating of 60/100 with JD Power. The 2024 Lyriq holds a Q&R rating of just 53/100. That doesn't instill us with much confidence as to this car's dependability.On the other hand, CarEdge estimates the Lyriq costing you just $2,433 in maintenance across the first five years of ownership. Additionally, you don't have to worry about shelling out for premium gasoline in an electric Caddie, and that's especially appealing at current gas prices. The EPA estimates that you could be paying just $850 a year to keep a 2023 Lyriq charged up, assuming 15,000 miles a year, split 45/55 between highway and city driving.Add all that to an insurance estimate of $2,935 a year, assuming a 40-year-old driver with good credit and a clean record, and here's what your annual cost of ownership looks like. A Used Lyriq Is Surprisingly Affordable Obviously, you could be spending less than $356 a month on a new or used Nissan, but we're not talking about compacts and budget cars here, we're talking about Cadillac, the brand that a lot of us grew up dreaming about.We've covered electrification as a great equalizer when it comes to power output, bringing supercar-tier performance to the mid-market segment. But performance isn't the only thing electrification democratizes. It's also bringing maintenance and refueling costs down for used luxury cars, meaning that, when you buy a used BMW or a pre-owned Mercedes-Benz or Cadillac, it might not be the maintenance nightmare you're expecting.