4 Cars Under $20K That Will Last Throughout Retirement
Written by
Sean Bryant
Edited by
Kristen Mae
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With the average car repair costing around $838, an unexpected car repair bill can really throw you off budget. Choosing a reliable and affordable vehicle is important if you want to maximize your retirement savings without worrying about hefty maintenance costs.
In this article, we’ll cover four reliable cars under $20,000 that will last through your retirement. Let’s get started.
2023 Nissan Versa
With prices starting under $16,000, the 2023 Nissan Versa is one of the most affordable vehicles on the used car market. It gets up to 40 miles per gallon on the highway and has a spacious interior, perfect for road trips or everyday use around town. It also comes equipped with many safety features, including lane departure warnings and automatic emergency braking. With its comfort, high reliability and low maintenance costs, it’s a great option for retirees.
“The 2023 Nissan Versa is particularly easy on the budget while still keeping the comfort and safety of its passengers in mind,” said Joe Giranda, Director of Sales & Marketing at CFR Classic. “The vehicle certainly does deliver on security with automatic emergency brake systems and lane departure warning features.”
2023 Kia Rio
Starting around $17,000, the 2023 Kia Rio offers excellent value for your money. Its interior is stylish and well-designed, offering a look similar to higher-end vehicles. However, it still delivers great fuel efficiency, reaching up to 41 mpg on the highway. This car is excellent for retirees because it includes Kia’s industry-leading 10-year/100,000-mile powertrain warranty, minimizing concerns about paying for major repairs.
“Apart from being a dependable subcompact car, the 2023 Kia Rio’s 10-year/100,000-mile powertrain warranty ensures long-term ownership peace of mind,” said Giranda. “With fuel efficiency of up to 41 MPG on the highway, the Rio also helps retirees save on gas.”
2023 Toyota Corolla
The 2023 Toyota Corolla starts at just under $20,000, putting it at the upper end of the budget if you’re trying to stay under $20,000. Toyota is known for manufacturing cars that can exceed 150,000 miles, with many Corolla owners surpassing 200,000 miles. Packed with safety features such as Adaptive Cruise Control and Lane Tracing Assist, it provides a smooth and comfortable ride for both short commutes and long road trips, making it a solid choice for retirees who want a reliable and safe vehicle.
“It is difficult to make a mistake with a Corolla,” said Alex Black, Chief Marketing Officer at EpicVIN. “These vehicles just last forever. You’ll be seeing people driving around in 15-year-old Corollas with more than 200,000 miles, and they’re still running strong.”
2023 Hyundai Accent
The 2023 Hyundai Accent starts at just under $17,000 and is one of the quietest, most fuel-efficient vehicles in its class. It also features comfortable seating and gets up to 41 mpg on the highway, making it ideal for anyone who prioritizes both comfort and fuel efficiency. Retirees love this car because of its low repair costs, strong reliability and user-friendly controls and technology.
“Aside from Hyundai’s warranty, the Accent is known to offer a smooth ride and incredible fuel economy,” said Giranda. “Its roomy interior and intuitive controls offer comfort, while ease of driving ensures longevity; all excellent qualities for retirees looking to drive with minimal hassle.”
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