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3 tips for buying a great retirement car

3 tips for buying a great retirement car

Retirement is an exciting time, but your car becomes a much more important consideration at this point. It’s incredibly important to consider your needs. In your golden years, you want reliable transportation that is affordable to run. What else do you need? It’s impossible to recommend a specific vehicle because everyone has different needs and wants. However, that doesn’t mean that we can’t offer you some tips.

Budget

Setting your budget is the first step. You need to consider the lifestyle that you want to maintain and the cost of purchasing, running, and insuring the car that you choose. You don’t want to incur debt when you buy a car at this point in your life. You also don’t want to get stuck with a large monthly payment. Used is an option, of course, it all comes down to maintenance costs.

Benefits

You will need to consider the benefits that come with going new instead of used. There are pros and cons to each, but it’s important that you consider the potential pros and cons for you. The condition of the vehicle can impact the initial cost, but you may end at the mechanic an awful lot if you get a dud. This is even more important if you plan to undertake some road-trips during your retirement. You don’t want to break down in the middle of nowhere or put tons of miles on a brand new car.

Research

Don’t rush your decision, take the time to do some research. If you have a few ideas on models, go and read online reviews, check out different options, and test drive! You don’t need to buy the first car you see or the first one you test drive either. Your retirement car is a key decision, so make sure it ticks all of your boxes.

 

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Tara Tyrrell

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