8 Sports Cars To Stay Away From in Retirement
Written by
Laura Beck
Edited by
Gary Dudak
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Dreaming of spending your retirement cruising around in a fancy sports car? Chris Pyle, auto expert at JustAnswer, says you might want to pump the brakes on certain models.
Here’s his take on which cars could drain your retirement fund faster than you think.
Nissan GT-R
“Middle and high-income car buyers may not have deep enough pockets to fully enjoy owning one of these cars,” Pyle noted. With brake jobs running over $1,000 and tires hitting over $300 each, that dream car could quickly become a nightmare.
BMW M Series
While they’re gorgeous to look at, Pyle explained that BMWs can be money pits in retirement.
“Cars can fail from a lot of miles as well from sitting around too much,” he remarked. And those German parts? They aren’t cheap.
Mercedes AMG
According to Pyle, even if you can swing the purchase price, maintenance costs can be brutal.
“Hopefully, the engine or driveline does not fail. You can be looking at $30,000 or more,” he added.
Bentley Continental
Sure, it’s the epitome of luxury, but Pyle noted that retirement isn’t the time to gamble with expensive repairs. When something goes wrong with a Bentley, it’s never a small fix.
Lexus LC
While Lexus is known for reliability, their sports models still require pricey maintenance.
“In retirement you may not drive all that much,” Pyle explained, which can actually cause more problems than you’d think.
Aston Martin
James Bond’s favorite ride might look great in your driveway, but Pyle warned that “sports cars are a poor investment, and during retirement, funds may be low.”
Porsche
Those precision-engineered German parts come with precision-engineered price tags. Even routine maintenance can eat into your fixed income faster than you’d expect.
Ferrari
If you have to ask how much repairs cost… well, you know the rest. As Pyle remarked, “Normally, people who can afford these cars can also afford the insurance, maintenance and repairs.”
But for most retirees, it’s just not worth the risk.
The bottom line?
“Take that into consideration, that you need to drive the vehicle, or expect repairs needed you did not budget for,” Pyle advised.
Sometimes the smarter move is picking a more practical ride and saving your retirement funds for adventures instead of repairs.
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