Trusted Models That End up Costing Retirees More Than Expected
Many retirees choose cars for comfort, reliability, and familiarity. But even well-loved models can become money pits over time. From hidden repair costs to poor resale values, certain cars quietly chip away at retirement savings. Here are 15 vehicles that are popular among older drivers but prove to be more expensive than they appear.
Toyota Avalon
The Avalon is often chosen for its roomy interior and smooth ride, but resale values are weaker than other Toyotas. Repairs can also be costly since it shares parts with higher-end models. Retirees love the comfort, but the financial hit at trade-in makes it less budget-friendly over the long run.
Buick Encore
Buick markets the Encore as a small SUV perfect for city driving and comfort, but owners complain about expensive repairs and poor resale value. Fuel efficiency is not as strong as competitors, either. Retirees expecting long-term savings sometimes discover the Encore slowly eats away at their fixed budgets.
Chevrolet Impala
The Impala has been a longtime favorite for retirees who like its size and comfort. But depreciation hits hard. Once driven off the lot, values sink quickly compared to rivals. Retirees expecting to trade it in later often find themselves losing more money than they anticipated.
Chrysler Pacifica
The Pacifica appeals to grandparents who shuttle grandkids, but maintenance and repair costs are high, especially on models with complex electronics. While comfortable, the Pacifica does not hold value well, and owners often deal with surprise bills. For retirees, it is a family-friendly choice that can strain savings.
Nissan Altima
The Altima is a common choice for retirees looking for a simple, reliable sedan. However, CVT transmission issues have caused major repair costs for many owners. Depreciation is also higher than competitors like Toyota and Honda. What seems like a safe bet can quietly drain retirement funds over time.
Ford Taurus
The Taurus was once one of America’s most popular sedans, but resale values plummeted when Ford stopped making cars in the U.S. Retirees who bought one new may find the resale value shockingly low. Repair costs are also creeping up as parts become harder to find, adding to expenses.
Hyundai Sonata
The Sonata is often praised for being affordable upfront, but depreciation is steep compared to competitors. Many retirees buy them new, thinking they are saving money, but when resale time comes, the numbers tell a different story. Long-term costs end up higher than expected despite the lower initial price.
Dodge Caravan
Retirees who enjoy road trips or time with grandkids often pick the Dodge Caravan. Unfortunately, it is known for transmission and reliability problems. Add in high fuel consumption, and the Caravan can quietly chip away at retirement funds. While practical, it is one of the more expensive vehicles to own.
Subaru Legacy
The Subaru Legacy is a popular choice in areas with harsh winters, thanks to standard all-wheel drive. But that same feature makes it more expensive to repair, and resale values are lower than Subaru SUVs. Retirees who buy it for safety sometimes face bigger bills than they expected.
Honda Accord (older Models)
The Accord has a great reputation, but older models with high mileage can be surprisingly costly to maintain. Many retirees hold onto their cars for years, and by that point, repairs like timing belts, transmissions, and suspension add up. Even a trusted name can nibble away at savings.
Chevrolet Malibu
The Malibu is marketed as an affordable midsize sedan, but depreciation is steep. Used buyers prefer Toyota or Honda, which leaves Malibu owners with low trade-in offers. Retirees often discover too late that the “affordable” purchase ends up costing more in the long run because of its weak resale.
Buick LaCrosse
The LaCrosse was designed to attract older drivers with comfort and ease of use. But depreciation is one of its biggest problems. Even premium trims lose value quickly. Retirees who buy new find that resale values lag far behind competitors, leaving them with a car that drains equity and savings.
Nissan Maxima
The Maxima is comfortable and sporty, but insurance and repair costs are higher than many retirees expect. Depreciation also outpaces rivals, making it a poor choice for long-term financial planning. Retirees who buy one for comfort often discover the hidden costs pile up over the years.
Ford Fusion
The Fusion was a strong seller until Ford stopped making sedans in America. That decision tanked its resale value. Retirees who invested in a new Fusion before the discontinuation found themselves stuck with a car worth much less than anticipated. Repairs have also become more expensive as parts become scarce.
Kia Cadenza
The Cadenza offered plenty of comfort at an appealing price, making it attractive to retirees. But the car was discontinued, and resale values plummeted. Limited brand recognition in the luxury space also hurt its resale. Owners who thought they were getting a bargain often find themselves losing far more than expected.
