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Retire Early
Lifestyle
Retirement; like your parents, but way cooler
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In 1991 Billy and Akaisha Kaderli retired at the age
of 38. Now, into their 4th decade of this
financially independent lifestyle, they invite you
to take advantage of their wisdom and experience. |
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A Guide for
Buying a Car as a Retiree
Jonathan Macon
Image by
(Joenomias) Menno de Jong from
Pixabay
Retirement is a time for you to relax, enjoy your life and explore. However,
having a reliable vehicle remains just as important as it has ever been. Whether
you plan to visit family, travel or simply handle your day to day tasks, you
must make sure that you're choosing the right vehicle for your retirement
years.
You
also have to think about things such as maintenance, and safety. Take a look at
some of the things you need to keep in mind when you're buying a car for your
retirement.
Assess Your Budget and Financial Situation
Before you make any kind of purchase it's important that you evaluate your
budget. Many retirees live on a fixed income so affordability is a big
priority.
You
should consider the total cost of ownership, this includes, fuel efficiency,
taxes, purchase prices as well as ongoing maintenance.
New vs. Used Vehicles
Deciding whether you want a
new or used vehicle is an important financial
decision. A new car is going to offer you improved fuel efficiency, warranties
as well as the latest technologies.
It
is going to come at a higher price point as well. If you get a used or certified
pre-owned car it can provide excellent value with low upfront cost. You should
weigh the pros and the cons based on your long-term financial plan to decide
what is right for you.
Financing vs Paying on Cash
If
you have savings set aside for your vehicle then paying in cash might be the
most cost-effective option as it helps you to avoid interest payments.
However, there are some retirees who prefer financing to preserve their cash
flow. You should consider low interest
financing options if you need to avoid
overextending your budget right away.
Prioritize Comfort and Accessibility
As
you begin to age comfort and ease become increasingly important when you need to
select a car. The features that may have in the past attracted you to a vehicle
may no longer do so.
In
general, look for vehicles that have supportive seats, easy access and
adjustable lumbar support. A car with a higher seat position such as a crossover
or even an SUV is often a great choice..
User Friendly Controls
When you have a well-designed dashboard with intuitive controls as well as a
touch screen display it's going to make your driving safer.
It's also going to make it more convenient. Look for features such as large
buttons, voice control and simple navigation systems because this is going to
enhance your driving experience tremendously.
Safety Features are Essential
Advanced safety technology has become a game changer for drivers of just about
every age. This is particularly useful for retirees who want some
extra peace of
mind.
When you select a vehicle you should opt for models that are equipped with
features such as blind spot monitoring, automatic emergency braking, lane
monitoring and departure warnings.
Consider getting adapted cruise control, parking sensors and rear view cameras
as well. All of these features are going to significantly reduce the risk that
you will get in an accident and make driving a lot less stressful for you.
Visibility and Ease of Handling
When the car has good visibility all around is going to have easy
maneuverability and large windows. This will help to prevent accidents.
You
should make sure you test different models to ensure that you feel confident
behind the wheel and also the vehicle.
Personalizing Your Car With a Unique Number Plate
For
some retirees customizing a car with a private number plate is a nice personal
touch. You can use services like PLATEHUNTER for number plates. They can assist
you with finding the right registration plates so that your vehicle can stand
out.
Whether you want to do it for sentimental reasons or if you just want to add
character to your car, your unique plate is going to make your driving
experience a whole lot more enjoyable.
Get Your Dream Car
If
you're ready to select a car in your retirement you now know how to go about
choosing the right one for you. Having a car is critical when you are in
retirement because it is a time where you want to make sure that you are taking
care of all your needs.
You
may need to run errands or even go for a doctor's visit and having a reliable
motor vehicle can make life a lot easier for you. Always do due diligence and
make sure you select the right vehicle.
For more on
Retirement Topics,
click here and
here and don't forget to signup for
our free Newsletter.
About the Authors
Retire
Early Lifestyle appeals to a different
kind of person – the person who prizes their
independence, values their time, and who doesn’t
want to mindlessly follow the crowd.
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