Most retirees live on relatively fixed incomes that don’t allow for much flexibility in terms of financial emergencies. This is why it’s important as a retiree to steer away from any potential money pits — like picking the wrong car.
While you’ll never know for sure if a car is going to conk out on you, resulting in pricey fixes, there are certain makes and models that have shown a tendency to be more expensive for owners over time. These types of cars — along with ones that come with a high MSRP to begin with — are best avoided for most retirees.
Mini Cooper
The Mini Cooper has no lack of charm and style, but it’s missing a few things that make it a good car for a new retiree. First, it can be somewhat impractical. Retirees often lose flexibility and mobility over time, and the small size of the Mini Cooper can make it hard to get into and out of.
But that’s not all. According to Jacob Carter, the owner of the Engine Rev Up blog, the Mini Cooper line is plagued by mechanical problems ranging from oil leaks and turbo failures to electrical and suspension problems.
Fiat 500
The Fiat 500 suffers from some of the same problems as the Mini Cooper when it comes to cars for retirees. While the car’s small size is part of its Italian charm, it can be a difficult car to own for mobility-limited seniors.
But the line also has its share of mechanical problems to worry about, which can drive up its cost of ownership. Specifically, the Fiat 500 is known for engine problems and oil leaks, and its tiny profile can make it harder to work on.
