What are called goods, whose maintenance expenses are higher than initial price tag. There is a specific term for that, but I can't find it.
You might be thinking about
Demerit goods. This type of goods have negative externality (cost) that are usually ignored by or unknown to the consumer.
As a result, initial cost of the good is relatively low, when compared to the long term cost for the consumer.
Simple example of a
demerit goods are cigarettes, since they have to fulfil two criteria:
- be harmful, unhealthy to the individual consumer: smoking is accepted as an unhealthy habit.
- have negative externalities, cost to third parties: secondhand smoke.
Finally, it is important to notice that classification of
demerit goods is normative contrary to usual positive economic approach when we classify goods based on their price or income elasticity e.g. ordinal, inferior, luxury.