5 Used Luxury Cars That Are a Good Investment for Retirees
A used luxury car can provide retirees with the opportunity to drive a high-quality vehicle and enjoy its premium features without the hefty brand-new price tag. According to Melanie Musson, an auto industry expert with CarInsurance.org, “Cars depreciate most rapidly when they’re new. It’s not uncommon for a new car to depreciate by 50% over the first five years.” She added, “If you can find a vehicle that is four or five years old, you can take advantage of a vehicle that has already gone through the bulk of its depreciation. You’ll pay less, and your car will lose value more slowly.”
Here are five used luxury cars that experts consider a good investment for retirees:
1. Cadillac CT5
“The CT5 is one of the most reliable vehicles, so when you invest in one, you shouldn’t have to worry about frequent, expensive repairs,” Musson explained. The vehicle comes with a six-year, 70,000-mile powertrain warranty. “The CT5 delivers a smooth ride that’s hard to beat,” Musson wrote. “It is equipped with excellent safety features that will help drivers avoid accidents and stay safe if an accident occurs.”
2. Lexus RX 350
The Lexus RX 350 is known for its comfort, reliability, and premium interior. Joe Giranda, a car expert and director of sales and marketing at CFR Classic, explained that “Lexus vehicles, especially the RX models, tend to hold their value well, and have lower maintenance costs compared to other luxury brands.” He added, “Plus, they come with advanced safety features, making it a great option for retirees who prioritize comfort and peace of mind.”
3. Mercedes-Benz E-Class
The Mercedes-Benz E-Class combines high-tech features with luxury. According to Giranda, buying a certified pre-owned model comes with warranty coverage. “Used models, particularly those from recent years, are packed with comfort features and advanced technology,” Giranda pointed out. “Mercedes-Benz vehicles are engineered for longevity, and when properly maintained, they can offer years of reliable service.”
4. Lexus LS 400
The Lexus LS 400 is a full-size luxury sedan that offers ergonomic seating and an intuitive infotainment system. Musson stated that “the 400 is an excellent investment for retirees. If you can afford to be comfortable in your retirement, you should prioritize your driving experience.” It’s also one of the most reliable models, often reaching 300,000 miles of dependable service.
5. Acura MDX
The Acura MDX, a mid-size crossover SUV, is a solid investment for retirees. Musson noted that the MDX is a good investment for retirees, and most owners love their MDX and would recommend it to others. “It’s a good size for seniors and is one of the more easy cars to climb into and out of,” she added. “The roomy interior is comfortable for the driver and passengers. It’s a great car for road-tripping and hanging out with friends or grandchildren.”
These used luxury cars offer retirees a chance to enjoy premium vehicles at a lower cost, with the added benefits of reliability and comfort.
