These 6 Affordable Cars Should Last Throughout Your Entire Retirement

If you’re planning to retire this year or within the next five years, chances are you’ll be reviewing whether you should keep your current vehicle or invest in a new car. The car you buy needs to be reasonably priced, safe to drive and reliable enough to meet your needs as an older driver entering into retirement.

GOBankingRates carefully vetted car recommendations from some of the auto industry’s leading authorities on the subject matter to determine which cars are best for retirees and why.

Keep reading to find out which six cars will last through your retirement without breaking the bank.

• Starting price: $31,450

The Honda CR-V was recognized as a Top Safety Pick for Small SUVs In the IIHS-HLDI 2024 Top Safety Picks. Some of the key safety features that the Honda CR-V checked off as “Good” include having a small overlap front for crashworthiness, good headlights and excellent seat belt reminders. 

Small SUVs like the Honda CR-V, according to Consumer Reports, often appeal to retirees because their big car doors and chair-height access make it easy to get in and out of the vehicle. And even though Car and Driver noted that the Honda CR-V lacks the excitement found in more thrilling cars, this might be just fine by retirees looking to invest in a spacious, fuel-efficient vehicle.

• Starting price: $28,190

Much like the Honda CR-V, the Subaru Forester is another small SUV that is easy for retirees to enter and exit. The Zebra has also been awarded the Subaru Forester as its top pick for cars that are easy to get in and out of. Retirees who need to make modifications to accommodate their needs can do so via the Subaru Mobility Assist Program, which offers a reimbursement of up to $1,000 on necessary modifications for your Subaru model.

Retirees will find plenty of room to store their belongings, supportive seats and all-wheel drive to better ensure controlling the car in bad weather. Retired shoppers seeking a slightly less expensive Subaru Forester model are recommended to explore the 2019-23 models. Prices for these vehicles range from $17,000 to $32,000, according to Kelley Blue Book (KBB).

• Starting price: $21,665

Did you know the average age of a Kia Soul owner is around 60? As much as this vehicle may appear to be for younger generations, baby boomers tend to be among its target audience. The Kia Soul offers plenty of spacious room inside with comfortable front and rear seats. It also has a raised height which makes it easy for retirees to get in and out of the car.

If the starting price tag of $21,000 feels too expensive for your budget, retirees may shop for used Kia Soul models. KBB recommends looking for the 2018-19 Kia Soul model, which has an estimated price range of $11,000 to $13,000.

• Starting price: $29,390

If your preference is to drive a midsize sedan in retirement, consider investing in the Honda Accord. Similar to the other vehicles mentioned in this roundup, the Honda Accord is easy to get in and out of and has a spacious, comfortable interior. 

U.S. News & World Report recommended the Honda Accord thanks to its budget-friendly gas mileage. The return for highway driving is 37 mpg with 29 mpg for driving in the city. The Honda Accord has also been recognized as one of IIHS-HLDI’s Top Safety Picks for Midsize Cars and performs well in crash and safety tests.

• Starting price: $39,000

Recognized by IIHS-HLDI as a Top Safety Pick for Midsize SUVs, the Hyundai Palisade is definitely among the more expensive end for retirees. 

However, retirees do receive plenty of bang for their buck with this purchase. Some of the Hyundai Palisade’s key features include automated emergency braking and pedestrian detection. A massaging seat for the driver as well as ease in getting in and out of the vehicle help further ensure comfortable, safe drives in a sleek car.

• Starting price: $27,515

Retirees seeking a midsize car that is comfortable, affordable and reliable have found it in the Toyota Camry. According to KBB, drivers can choose from Camry models featuring a V6 engine or a four-cylinder with all-wheel drive available on the four-cylinder models. 

Older drivers focusing on safety first will be happy to know the Toyota Camry features a suite of safety technologies known as Toyota Safety Sense 2.5+. A few worth highlighting include a pre-collision system with pedestrian detection to detect vehicles and pedestrians ahead in low-light conditions, automatic high beams and lane departure alert with steering assist.

• Starting price: $42,985

We wanted to include an electric vehicle for retirees who are either already EV owners or plan to own an EV in retirement. Our pick is the Hyundai IONIQ 5. It’s a small SUV (with a Top Safety Pick ranking) that is easy to enter and exit and charges quickly.

While this model does cost a little more than the Hyundai IONIQ 6, KBB noted that drivers receive most recommended features (like advanced safety technology that includes automatic emergency braking and blind-spot monitoring) in the base SE Standard trim. This means retired drivers won’t need to worry about spending more money to ensure their safety while driving this vehicle.