A used luxury car can give retirees the chance to drive a high-quality vehicle and enjoy its premium features without paying the brand-new price tag.
“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,” said Melanie Musson, auto industry expert with CarInsurance.org. “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.”
