10 Great Cars for Retirees Both Rich and Poor — and 5 To Avoid - MASHAHER

skynesher / Getty Images

Reaching retirement age 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 money, maybe you’ll splurge on a favorite sports car or luxury sedan. If money’s tight, you’ll probably opt for something affordable.

Check Out: 9 Cars To Stay Away From In Retirement

Or, you could split the difference and find a car that checks a bunch of different boxes. A number of cars are suitable for all retirees, 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 JB Motor Works, told GOBankingRates in a recent interview. “Stick to brands with great track records and you’ll keep more of that pension in your pocket.”

Here’s a look at 10 great cars for retirees both rich and poor — along with five you’ll want to avoid.

10 Great Cars for Retirees

The best cars listed below are priced at around $30,000 or less and include both new and used models. The new car (2024) prices are from Kelley Blue Book, while the used car prices are based on Cars.com and U.S. News & World Report data.

Learn More: 6 Hybrid Vehicles To Stay Away From Buying

For You: 4 Affordable Car Brands You Won’t Regret Buying in 2024

Earning passive income doesn’t need to be difficult. You can start this week.

2024 Toyota Camry

Try This: 6 Cars With Bad Reviews To Avoid

2024 Honda Accord

Starting price: $28,990
Fuel economy: 32 mpg

2024 Honda CR-V

2014-17 Acura ILX

Median price: $13,000-$17,000
Fuel economy: 25-29 miles per gallon (gas only); 38 mpg (hybrid)

2014-15 Honda Civic

Median price: $13,000-$14,000
Fuel economy: 25-34 mpg (gas-only); 44 mpg (hybrid); 31 mpg-e (natural gas)

2015-17 Mazda3

2017-18 Toyota Corolla

Explore More: 8 Best Luxury Cars for Wealthy Retirees

2013-15 Toyota Prius

Median price: $12,500-$15,000
Fuel economy: 48 mpg (hybrid); 95 mpg-e with 50 mpg after 11 miles of all-electric range on a full charge

2015-17 Buick Regal

2017 Ford Fusion

Median price: $13,000-$16,000
Fuel economy: 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

Find Out: 5 Affordable Car Brands That Rarely Need Repairs

Five Cars To Avoid

If you want to know which cars to avoid in retirement, here are five you should literally steer clear of:

Ford Mustang

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.

Chrysler 300

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.

Land Rover Range Rover

Although the Range Rover is a sleek, refined and comfortable luxury SUV, it also breaks down frequently and is expensive to repair.

Mitsubishi Mirage

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.

Dodge Journey

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.”

More From GOBankingRates

This article originally appeared on GOBankingRates.com: 10 Great Cars for Retirees Both Rich and Poor — and 5 To Avoid

Source Agencies

10 Great Cars for Retirees Both Rich and Poor — and 5 To Avoid – MASHAHER