4 Things To Remember When Buying A Car After You Retire

Posted on: 14 September 2017

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If you are recently retired and are looking to purchase a vehicle, you might be unsure of which new car to buy. Now that your life is changing, you probably want to make sure that you buy a car that you will be happy with for years to come. These are a few things that you'll want to think about when choosing a car to drive in your retirement.

1. Consider Comfort

Even though you might have loved a nice, sporty car when you were younger, now is the time to start thinking about comfort. You may find that you feel more comfortable in a nice sedan, for example, than a sportier car. Some people think of sports cars and convertibles when they think about buying a car as a senior citizen, but the truth is that you might just be more comfortable in something that is designed more for comfortable riding versus speed.

2. Consider Future Needs

Right now, you might feel like you always have. As you get older, however, your needs might change. You or your spouse might eventually have mobility issues, for example, meaning that you might need plenty of space in your vehicle for a wheelchair or a walker. You'll also want to make sure that it's a vehicle that you can get in and out of easily; you probably won't want one that is too high up or too low to the ground.

3. Look for Something Reliable

Even if you have a pretty good knowledge about things related to cars, you might not want to spend time looking under the hood now that you're retired. Springing for a newer car can be a better choice when you're retired. Then, you can help ensure that you don't run into any reliability issues. If your car does break down, there's a good chance that it will be covered by a warranty, so you won't have to worry about using your retirement income to pay for the repairs.

4. Focus on Affordability

Of course, you probably don't want to just purchase the cheapest car. However, now that you are retired, your income might not be where it used to be. Therefore, you'll probably want to think carefully about how much your payments will cost and how much it will cost to insure and take care of the vehicle. Then, you can help ensure that it won't be a financial burden in your retirement.