Used cars can be a great option if you want to add an affordable car to your garage.
Fortunately, car prices have been on a downward trend in recent months, so buying now might help you get ahead financially.
Check out these affordable used car options that meet the needs of retirees.
Earn cash back on everyday purchases with this rare account
Want to earn cash back on your everyday purchases without using a credit card? With the Discover®️ Cashback Debit Checking account (member FDIC), you can earn 1% cash back on up to $3,000 in debit card purchases each month!1
With no credit check to apply and no monthly fees to worry about, you can earn nearly passive income on purchases you’re making anyway — up to an extra $360 a year!
This rare checking account has other great perks too, like access to your paycheck up to 2 days early with Early Pay, no minimum deposit or monthly balance requirements, over 60K fee-free ATMs, and the ability to add cash to your account at Walmart stores nationwide.
Don’t leave money on the table — it only takes minutes to apply and it won’t impact your credit score.
Kia Soul
The Kia Soul can be a good choice if you’re looking for a compact SUV. Its spacious interior will appeal to many retirees who still want to take long road trips.
Toyota Camry
The Toyota Camry remains one of the most popular cars for drivers who are looking for a vehicle with a long history of reliability. It also has a reputation for being fuel-efficient.
Chrysler Pacifica
The Chrysler Pacifica is a minivan that might appeal to retirees who want a higher seating position, or extra space to transport items for volunteer work or have fun with the grandkids.
Earn $200 cash rewards bonus with this incredible card
There's a credit card that's making waves with its amazing bonus and benefits. The Wells Fargo Active Cash® Card(Rates and fees) has no annual fee and you can earn $200 after spending $500 in purchases in the first 3 months.
The Active Cash Card puts cash back into your wallet. Cardholders can earn unlimited 2% cash rewards on purchases — easy! That's one of the best cash rewards options available.
This card also offers an intro APR of 0% for 12 months from account opening on purchases and qualifying balance transfers (then 19.49%, 24.49%, or 29.49% Variable). Which is great for someone who wants a break from high interest rates, while still earning rewards.
The best part? There's no annual fee.
Subaru Forester
The Forester gets good gas mileage, which can help trim your fuel costs. That is especially important if your retirement budget is tight.
Hyundai Sonata
The Hyundai Sonata is a great alternative to the Honda Accord and Toyota Camry. It also features driver-assist technology and other great features retirees might appreciate.
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Buick Encore
The Buick Encore gives retirees the benefits of a crossover SUV with more luxury-type finishes. The Encore also offers great safety features.
Honda CR-V
The Honda CR-V is an easy vehicle to get into and out of. It also lets you see the road better since you are sitting higher than in a sedan.
Lexus ES
The Lexus ES has a smooth suspension and comfortable interior, which can be helpful if you plan to take some road trips and travel when you retire.
Chevrolet Bolt
The Chevrolet Bolt is a good option now that you’ve ditched your daily commute and are likely doing more local driving as a retiree. For example, the 2017 Bolt gets 238 miles of range on a charge.
If you’re over 50, take advantage of massive discounts and financial resources
Over 50? Join AARP today — because if you’re not a member you could be missing out on huge perks. When you start your membership today, you can get discounts on things like travel, meal deliveries, eyeglasses, prescriptions that aren’t covered by insurance and more.
How to become a member today:
- Go here, select your free gift, and click “Join Today”
- Create your account (important!) by answering a few simple questions
- Start enjoying your discounts and perks!
You’ll also get insider info on social security, job listings, caregiving, and retirement planning. And you’ll get access to AARP’s Fraud Watch Network to help you protect your money, as well as tools to help you plan for retirement.
Important: Start your membership by creating an account here and filling in all of the information (Do not skip this step!) Doing so will allow you to take up 25% off your AARP membership, making it just $12 per year with auto-renewal.
Mazda 6
Mazda 6 has a reputation for handling well on different kinds of roads and is also known for its reliability. The car’s interior has been described as “near luxury.”
Toyota Avalon Hybrid
Add the Toyota Avalon Hybrid to your shopping list if you aren’t ready to jump into an electric vehicle. The 2018 version of this sedan gets a combined 40 miles per gallon.
Nissan Rogue
The Nissan Rogue includes zero-gravity seats that help reduce fatigue if you plan on taking road trips when you retire. The Rogue’s extra ride height also can help you see better.
Chevrolet Impala
The Chevrolet Impala is no longer being produced, but used models are still desirable for retirees. The Impala has safety features like forward collision alert and lane-departure warning.
One way to cut the cost of an Impala or any other used car is to save on car insurance by shopping around for the best policy.
Bottom line
Used cars are a good option for retirees on a fixed income or those who decide to retire early and don’t have a considerable nest egg.
So, consider one of the vehicles on this list that offers essential features for retirees at a price that will not bust their budget.
Lucrative, Flat-Rate Cash Rewards
FinanceBuzz writers and editors score cards based on a number of objective features as well as our expert editorial assessment. Our partners do not influence how we rate products.
Wells Fargo Active Cash® Card
Current Offer
$200 cash rewards bonus after spending $500 in purchases in the first 3 months
Annual Fee
$0
Rewards Rate
Earn unlimited 2% cash rewards on purchases
Benefits
- Low spend threshold for its welcome offer — $200 cash rewards bonus after spending $500 in purchases in the first 3 months
- Cell phone protection benefit (subject to a $25 deductible)
- Can redeem rewards at an ATM for literal cash
Drawbacks
- Foreign transaction fee of 3%
- No bonus categories
- Select “Apply Now” to take advantage of this specific offer and learn more about product features, terms and conditions.
- Earn a $200 cash rewards bonus after spending $500 in purchases in the first 3 months.
- Earn unlimited 2% cash rewards on purchases.
- 0% intro APR for 12 months from account opening on purchases and qualifying balance transfers. 19.49%, 24.49%, or 29.49% Variable APR thereafter; balance transfers made within 120 days qualify for the intro rate and fee of 3% then a BT fee of up to 5%, min: $5.
- $0 annual fee.
- No categories to track or remember and cash rewards don’t expire as long as your account remains open.
- Find tickets to top sports and entertainment events, book travel, make dinner reservations and more with your complimentary 24/7 Visa Signature® Concierge.
- Up to $600 of cell phone protection against damage or theft. Subject to a $25 deductible.
Subscribe Today
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