The cost of everything seems to be continually on the rise — but maybe not the used car market (finally). Last month alone, the prices of used cars fell 2.3%, making the annual drop a total of 10.9% compared to the previous year.
That's still 16.9% higher than rates before the pandemic, but it's the lowest prices have been since the high peak in February 2022. Purchasing a new vehicle is only 0.2% lower than last month — but is it worth the cost of buying new? Probably not, especially if you're planning your retirement.
Preparing for changing vehicle needs is an important part of planning a stress-free retirement, so take a look at the 13 best makes and models for retirees looking to spend less than $30,000 on a car.
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Kia Soul
![kia soul](https://cdn.financebuzz.com/filters:quality(75)/images/2024/01/11/kia-soul.jpg)
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
![toyota camry](https://cdn.financebuzz.com/filters:quality(75)/images/2024/01/11/toyota-camry.jpg)
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
![chrysler pacifica](https://cdn.financebuzz.com/filters:quality(75)/images/2024/01/11/chrysler-pacifica.jpg)
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 20.24%, 25.24%, or 29.99% 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
![subaru forester](https://cdn.financebuzz.com/filters:quality(75)/images/2024/01/11/subaru-forester.jpg)
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
![hyundai sonata](https://cdn.financebuzz.com/filters:quality(75)/images/2024/01/11/hyundai-sonata.jpg)
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.
Buick Encore
![buick encore](https://cdn.financebuzz.com/filters:quality(75)/images/2024/01/11/buick-encore.jpg)
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
![honda cr-v](https://cdn.financebuzz.com/filters:quality(75)/images/2024/01/11/honda-cr-v.jpg)
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.
Chevrolet Bolt
![chevrolet bolt](https://cdn.financebuzz.com/filters:quality(75)/images/2024/01/11/chevrolet-bolt.jpg)
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 2024 Bolt gets 259 miles of range on a charge.
Mazda 6
![A Mazda 6](https://cdn.financebuzz.com/filters:quality(75)/images/2024/01/11/mazda-6-adobe.jpg)
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.”
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”
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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.
Toyota Avalon Hybrid
![toyota avalon](https://cdn.financebuzz.com/filters:quality(75)/images/2024/01/11/toyota-avalon.jpg)
Add the Toyota Avalon Hybrid to your shopping list if you aren’t ready to jump into an electric vehicle. The 2024 version of this sedan gets a combined 44 miles per gallon.
Nissan Rogue
![nissan rogue](https://cdn.financebuzz.com/filters:quality(75)/images/2024/01/11/nissan-rogue.jpg)
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
![chevrolet impala](https://cdn.financebuzz.com/filters:quality(75)/images/2024/01/11/chevrolet-impala.jpg)
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
![happy asian couple using tablet on countertop](https://cdn.financebuzz.com/filters:quality(75)/images/2023/04/13/happy-senior-couple-using-tablet-in-kitchen-at-home.jpeg)
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
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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. 20.24%, 25.24%, or 29.99% 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.
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