Reaching often means rewarding yourself for the hard work and sacrifices you made during the previous four or five decades. For some seniors, one of those rewards is getting a new set of wheels. If you have plenty of , maybe you’ll splurge on a favorite sports car or luxury sedan.
If money’s tight, you’ll probably opt for . Or, you could split the difference and find a car that checks a bunch of different boxes. A number of cars are , across different income brackets.
At the same time, some cars are not a great fit, no matter how much money you have. When you’re younger, you might value power, style or size in a vehicle. But most retirees need one that is economical, not too big, and easy to drive and maintain.
This rules out most trucks, SUVs, sports cars and full-size sedans. Compact and mid-sized cars with good gas mileage work best for retirees. For those who prefer a greener experience — and have convenient access to charging stations — compact electric vehicles might also work well.
“The key for retirees is to prioritize reliability, fuel economy, and affordable maintenance above all else,” John Lin, an experienced mechanic and owner of Pennsylvania’s , told GOBankingRates in a . “Stick to brands with great track records and you’ll keep more of that pension in your pocket.” Here’s a look at 10 both rich and poor — along with five you’ll want to avoid.
The best cars listed below are priced at around $30,000 or less and include both new and . The new car (2024) prices are from , while the used car prices are based on and data. Earning passive income doesn't need to be difficult.
$27,515 32 miles per gallon $28,990 32 mpg $30,850 30 mpg $13,000-$17,000 25-29 miles per gallon (gas only); 38 mpg (hybrid) $13,000-$14,000 25-34 mpg (gas-only); 44 mpg (hybrid); 31 mpg-e (natural gas) $13,000-$15,500 28-33 mpg $15,500-$17,000 30-34 mpg $12,500-$15,000 48 mpg (hybrid); 95 mpg-e with 50 mpg after 11 miles of all-electric range on a full charge $13,000-$16,000 22-28 mpg $13,000-$16,000 20-27 mpg (gas-only); 42 mpg (hybrid); 97 mpg-e with 42 mpg after 22 miles of all-electric range on a full charge If you want to know which cars to avoid in retirement, here are five you should literally steer clear of: Driving a classic muscle car in retirement sounds fun, but the Mustang might not be the ideal choice. The V8, 5.0-liter version gets a dismal 15 MPG for city driving and a combined highway/city mileage of only 18 MPG.
This is a stylish full-sized sedan, which many older drivers like. But the Chrysler 300, like the Mustang, does not get very good gas mileage. Although the Range Rover is a sleek, refined and comfortable luxury SUV, it also breaks down frequently and is expensive to repair.
The Mirage carries a low price tag and boasts very good fuel economy, but is prone to “all sorts of mechanical issues,” Lin said, and is not a good choice if you want a reliable car. The Journey was discontinued in 2020 after 12 years in production, but you can find them on the used market. The problem, according to Lin, is that they are “cheaply made and plagued by engine, suspension and AC issues.
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