As a retiree, it’s important to ensure that all financial expenditures align with your budget, whether they fall into the category of wants or needs. Managing a fixed income from Social Security, retirement plan payouts, and personal savings requires careful balance, and you want to avoid being among the retirees who inadvertently overspend on unnecessary purchases.
Therefore, when selecting your next mode of transportation, choosing the right car for retirement should be approached with thoughtfulness and consideration. Fortunately, the 2024 Toyota Camry is among the top choices for retirees, as indicated by a Kelley Blue Book listing, which suggests a market retail price (MSRP) of approximately $27,515.
It’s not just the 2024 Toyota Camry’s price that makes it appealing, but also the various features inside the midsize sedan’s cabin and under the hood, which make it an ideal retirement vehicle.
The pros and cons of the 2024 Toyota Camry
A key component of successful retirement is the lifestyle you choose, which impacts your finances and determines what you can spend on a comfortable post-work life. The 2024 Camry is priced well for retirees, but there’s much more to this Toyota than just the cost.
On the positive side, Car and Driver highlighted that in a market dominated by SUVs, this “…Camry continues to offer the old-school alternative of a competent, comfortable, dependable, economical, low-key midsize family sedan.”
However, Edmunds noted that although the vehicle is a solid choice for many, the 2024 Toyota Camry’s “lackluster four-cylinder engine and excessive wind and engine noise prevent it from being best-in-class.” Despite this, Edmunds still ranks the Camry among the top-rated midsize vehicles, though it acknowledges that other cars in its class, like the Honda Accord and Hyundai Sonata, may be outpacing it in terms of features sought by drivers in an affordable vehicle.
Best practices for buying a car in retirement
Retirement brings changes to your life, especially in how you approach significant purchases and manage daily living expenses. Buying a car in retirement differs from purchasing one while working, but both stages require a shopping strategy, whether you opt for a new, used, or leased vehicle.
Moneywise recommends that when buying a car in retirement, you should evaluate your vehicle needs, research the make and model you intend to purchase, and align your budget to cover costs, including gas, insurance, and potential maintenance.
One excellent starting point before visiting a dealership or browsing car websites is Consumer Report’s Guide to Car Reliability and Owner Satisfaction. This resource allows you to investigate survey-based data on automotive reliability and access genuine owner satisfaction reviews, ensuring you know what to expect from your retirement car, whether it is a 2024 Toyota Camry or another vehicle.
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