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 ..