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So, how much should you spend on a new car?
Theres no exact number, but there is a rule to follow.
For boomers on a budget,avoid these new cars if you dont want to break the bank.
Common repair costs like air suspension fixes can exceed $1,500 each.
Full-size SUVs with sophisticated 44 systems trend higher than average in repair frequency after 5 plus years.
Expect monthly premiums of $200-$250, he said.
He added, While BMW ranks well in initial quality, costs spike after 50,000 miles.
Owners frequently cite issues withinfotainment and turbochargers, which can wreak havoc on a retirees budget.
While Audis are beautifully designed and packed with cool features, they get pricier over time.
Brake and suspension jobs can regularly top $1,000 each.
Luxury sedans like the G80 can see annual insurance rates of around $3,700, Dillan said.
He added, Despite a strong warranty, some owners report issues with steering vibration and infotainment software.
Once the bumper-to-bumper coverage lapses, these premium systems can become costly headaches.
However, maintenance and other costs can make a PHEV unaffordable.
Owners often enjoy the quiet, smooth ride early on, he added.
For fixed-income retirees, those sudden large expenses arent easy to absorb.
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