4 Things Retirees Should Look for in a New Car
Many people choose to buy a new car when they retire. It’s a good time to do so: your driving habits and needs change when you don’t have to commute to work every day, you’ve recently started getting social security and opened up your IRA accounts, and getting something with the latest safety systems can help you stop worrying about the possibility that you won’t be as good at driving as you grow older. Here’s what you need to consider if you’re a new retiree shopping for a new vehicle.
Driving is an effective way to stay independent even as you find yourself slowing down with age, but many older drivers start to lose their skill as the years pile up. Many cities hold special driving lessons for older drivers so they can brush up on their skills and learn about how the rules of the road have changed over the decades, but it can also be incredibly helpful to get a car with advanced safety systems and driver assistance features that add extra warnings and self-driving systems to make driving safer for everyone.
When you have a fixed income and growing medical costs, it can be helpful to completely own a car that doesn’t give you much trouble or cost much to maintain even in its second or third decade. A car with a great record for reliability can go a long way towards keeping your monthly costs down and might even last through your entire retirement.
Comfort and Customization
Aches and pains have a way of piling up once you hit your 40s, and all too many people develop arthritis as they grow old. That’s why finding a car you can be comfortable in is a real treasure, especially if you need to drive for long periods to visit your grandkids or go to a post-retirement job. Extra legroom in the front and wide front doors can help you climb in and out of a car when you have trouble walking and sitting down, and seats with eight or more adjustable directions make far easier to find a comfortable position.
Low Ongoing Costs
This means low insurance rates, good fuel efficiency, cheap replacement parts, and other costs that go into owning a car beyond loan payments. However, it’s more important to keep these costs reasonable based on your retirement income than it is to make sure they’re as low as possible. If a reliable and efficient luxury car fits in your budget, then you should absolutely consider buying it. After all, what’s the point of saving up for retirement if you never get to enjoy spending your money?
Car companies make so many different kinds of automobiles because different people need vehicles for different jobs, and the same people can have a lot of different needs as their lives change. Retirement is one such milestone, and so you should keep in mind the changes you’ll need to make once you no longer work at a full-time job.