10 Cars You'll Regret Buying When Living on Just Social Security

As a retiree living on just Social Security, finding ways to stretch your check is essential. However, one money trap that many retirees fall into is their car purchase. Just because a vehicle is in your price range or shows solid reliability scores doesn't mean it's the right purchase.

That's why it's essential to do your homework on the total ownership cost, not just the entry price, when considering any new vehicle purchase. The average cost to own and operate a new vehicle in 2024 was $12,297 per year or about $61,485 over five years, according to AAA. That figure includes fuel, insurance, maintenance, and depreciation — and it's only an average.

With the data in mind, it would be ideal for retirees living on just Social Security to find a new car option that averages less than $60,000 over the course of five years of ownership. To help you avoid a costly mistake, here are 10 cars that look appealing, but that retirees should think twice about before buying, due to their hidden cost of ownership.

Editor's note: Data is sourced from CarEdge.com and RepairPal.com.

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5 Year Cost of Ownership: $70,262

The starting MSRP for the 2025 Jeep Grand Cherokee ranges from $36,495 to $63,040. While the Grand Cherokee has long been a fan favorite due to its ability to blend comfort and capability, it remains a risky purchase for anyone living on a fixed income. Along with its mediocre reliability score of 3.5 out of 5 and its less-than-stellar fuel economy at 22 MPG combined, costs can add up fast with this SUV.

While the Grand Cherokee's average annual repair costs sit at just $666, which is below the national average, it's the common big-ticket repairs required by this SUV that make it more concerning for folks on a fixed income. Owners have reported a variety of issues, some of the most common being erratic electronic shifting, stalling engine, alternator failure, and ignition switch malfunctions.

5 Year Cost of Ownership: $71,297

The sticker price for a 2025 Infiniti QX55 ranges between $50,150 and $58,650. This luxury SUV brand is renowned for its sleek design and upscale interior offerings. However, retirees should definitely think twice before driving one of these SUVs off the lot.

Data shows that this luxury crossover carries higher ownership costs than many rivals, ranking 16th out of 32 for all car brands and with an average annual repair cost of $638. Combined with below-average fuel economy at 25 MPG combined, the QX55 could stretch a Social Security budget just a bit too far.

5 Year Cost of Ownership: $71,368

The starting price of the 2025 BMW X3 is $49,950. However, a fully equipped trim has a starting price closer to $64,700. The BMW X3 averages 25 MPG combined, which means retirees can expect to pay around $7,965 for fuel over five years, or about $1,593 annually. While this luxury SUV offers sharp handling and a premium interior experience, it's definitely not the most practical selection.

Along with its less-than-ideal fuel economy, the repair costs associated with owning this luxury SUV can quickly become a heavy burden. With the average annual repair costs of an X3 sitting around $1,034 and the BMW nameplate ranking 30th out of 32 for all car brands, the BMW X3 is probably one luxury SUV that retirees should steer clear of.

5 Year Cost of Ownership: $71,490

A sleek luxury sedan, the 2025 Audi A6 is available at a starting MSRP ranging between $58,100 and $73,350. This luxury sedan is definitely a looker, delivering refined styling and advanced tech features. However, from high annual repair costs to its sky-high depreciation value, this sedan proves to be less than ideal for retirees living just on Social Security.

In terms of reliability, the Audi nameplate ranks 28th out of 32 for all car brands. Additionally, the average annual repair costs associated with owning an Audi A6 are approximately $913. Retirees should also be wary when it comes to the A6 holding its value. A new Audi A6 isn't cheap, and it's expected to depreciate by about half of its original cost during the first five years of ownership, far higher than the market average.

5 Year Cost of Ownership: $76,040

A midsize luxury SUV that can haul seven passengers, the MSRP of the 2025 Volvo XC90 ranges from $61,050 to $83,900. There's no denying that this SUV is plenty stylish and appealing at first glance. However, its spacious interior may not compensate for its hidden costs of ownership. For one, the XC90 averages $851 per year in repair costs.

In terms of reliability, the Volvo nameplate ranks 17th out of 32 brands. Plus, this SUV averages about 24 MPG combined, which yields a total fuel cost of about $9,625 after five years, or about $1,925 annually. Thus, for those relying solely on Social Security, this SUV can quickly become an expensive headache.

5 Year Cost of Ownership: $79,582

The 2025 Jeep Wrangler base trim starts at just $32,095. However, the fully loaded Wrangler trim with all the bells and whistles climbs all the way up to $99,995. The Wrangler has long been an adventure icon, but it's not particularly fuel-efficient, and it doesn't come from the most reliable nameplate around.

The Jeep nameplate ranks 15th out of 32 for all car brands, with an average annual repair cost of $694. However, what retirees should really be worried about when it comes to owning a Wrangler is the fuel costs. The Wrangler averages just 19 MPG combined, which yields a total fuel cost of about $12,160 over five years, or about $2,432 per year.

5 Year Cost of Ownership: $80,560

Seeing a Toyota on a list of cars to avoid isn't the norm, given that the nameplate ranks 8th out of 32 car brands in terms of reliability. However, the new technology and fuel infrastructure of the Mirai make it a gamble.

The Mirai is marketed as a futuristic hydrogen fuel-cell sedan with zero emissions. The Fuel Cell Electric Vehicle (FCEV) is filled exclusively with hydrogen, which it generates electricity from and allows the sedan to run.

While it's quite impressive that water is the car's only emission and that the Mirai averages 70 MPGe, Mirai's niche technology makes repairs costly and uncertain. Ultimately, retirees seeking an EV will be better served by exploring other, more established options.

5 Year Cost of Ownership: $82,807

The starting MSRP for the 2025 Chevrolet Tahoe is between $60,400 and $83,400. When it comes to full-size SUVs, the Tahoe delivers in terms of interior space and towing capabilities. However, the Tahoe comes with quite a high cost of ownership.

For one, the Tahoe does not offer ideal fuel costs. It averages just 17 MPG, which means you can expect to spend around $13,590 for fuel in the first five years of ownership, or about $2,718 per year. In addition, the average annual repair costs associated with owning a Tahoe sit at $744. While Chevrolet is a well-known and respected nameplate, a Tahoe probably isn't the smartest investment option.

5 Year Cost of Ownership: $85,052

The sticker price of a 2025 Ford Bronco sits between $38,995 and $79,995. Another adventure icon, the Ford Bronco, is a legend in the off-roading community. While it might be a top pick among retirees who live for adventure, it probably isn't the most sound investment decision, given its estimated repair costs of $502 per year, a commonly reported issue with "no start" and stalling due to ignition module failure, and its overall high cost of ownership.

An additional drawback is the fuel cost associated with owning a Ford Bronco. This 4x4 SUV only averages 18 MPG. This means that retirees can expect to pay about $13,590 in fuel costs during the first five years of ownership, or about $2,718 per year.

5 Year Cost of Ownership: $95,042

The 2025 Dodge Durango has a starting MSRP of just $38,495. However, the fully loaded higher-end trim is closer to $113,325.

While this SUV is very aesthetically pleasing, it already has 120 reported problems on RepairPal and averages an annual repair cost of $675. The Durango also only averages 17 MPG. This means retirees should expect to pay around $11,550 for fuel during the first five years of ownership, or about $2,310 per year.

It's easy to get swept away by an appealing sticker price, but that's never the full picture when it comes to vehicle ownership. So, no, choosing the right car in retirement isn't just about comfort, style, or entry point. It's about protecting your budget.

Just think, the average American spends nearly $2,449 a year on fuel alone, or more than $12,000 over five years. Plus, add in depreciation, insurance, and maintenance, and it's easy to see how the wrong vehicle can quickly dry up a Social Security check. Thus, by steering clear of models with high ownership costs, retirees can avoid financial mistakes and focus instead on enjoying the road ahead.