Used car prices are finally starting to decrease, presenting a prime opportunity to upgrade your ride.
But with so many choices, which vehicle best suits your post-retirement life?
We've compiled a list of fantastic used cars that deliver the features you crave while helping you keep more money in the bank.
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Hyundai Santa Fe
The Hyundai Santa Fe has plenty of features that retirees desire, such as lumbar support and active safety features, which can become more important as you get older.
The Santa Fe also has easy-to-use controls and touchscreens that can help you navigate while keeping your eyes safely on the road.
Crossover SUVs can be great options for retirees because they’re easy to get into and out of. In addition, you might see the road better since you're sitting higher than you would in a sedan.
The Honda CR-V can be a good choice if you are looking for an affordable compact SUV.
Check out the Buick Encore if you want the benefits of a crossover SUV with more luxury-type finishes.
The Encore can also appeal to those who want driver assistance and other safety features.
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Lincoln no longer makes sedans, but there are still some older Lincoln sedans available on the used car market that can give you a luxury option without a luxury car price tag.
The Lincoln MKZ midsize car was noted for its reliability, which means fewer unexpected issues might pop up while you own the vehicle.
The Ford Escape is a popular option if you want an SUV that isn’t too big to handle as you get older.
The Insurance Institute for Highway Safety (IIHS) gave both the 2020 and 2022 Ford Escape models Top Safety Pick rankings.
Retirees who live in a winter climate might want a vehicle such as the Subaru Forester that can handle snow and ice.
The Forester has all-wheel drive as a standard feature, which can help you safely navigate winter weather and bad road conditions.
The Toyota Corolla has traditionally been one of the best-selling cars in the U.S.
That popularity means you should be able to find a used Corolla that fits your budget and meets your wants and needs.
If you’re looking for a larger SUV, the Kia Telluride can be a good option.
The Telluride has a third row of seating, so you can drive with friends or travel with the grandkids. It also has plenty of storage space for all kinds of items you need.
Recent versions of this midsize SUV also have earned good safety ratings from the IIHS.
The Honda Accord is a solid sedan that might be more affordable than some of the SUVs on this list.
The Accord has a reputation for being a reliable car, which should give peace of mind to some drivers who are a bit uneasy about buying something used.
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If you are in the market for a minivan, the Chrysler Pacifica might be worth a look.
Check out the 2021 and 2022 models on the used-car market, as they received Top Safety Pick Plus ratings from the IIHS.
The Kia Soul has a unique boxy design that is sure to attract attention.
The Soul is also a good choice if you’re looking for a compact SUV that has more of a car feel in traffic.
The Volvo S80 stopped production in 2016, but it is still a good option for retirees, especially if safety is their top concern.
Volvo is well-known for its safety features across its lineup, and the S80 is no exception. It earned a Top Safety Pick Plus rating from the IIHS in several of its final model years before being discontinued.
Remember that a great way to cut the cost of owning a used car is to save money on car insurance by shopping around for the best policy.
Used cars can be a great option for retirees, especially if you need to supplement your income in retirement.
Just make sure you have some money saved in an emergency fund in case you encounter unexpected maintenance and repair issues with your used vehicle.