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But not all models deliver those benefits once the warranty expires and real-world costs begin to add up.
With that in mind, here are five models retirees may want to skip to protect theirretirement savings.
In contrast, here are used luxury cars that are a good investment for retirees.
This steep decline can be financially disadvantageous for retirees seeking to preserve their investment.
That creates significant risk for retirees, especially those driving fewer miles or keeping the car long-term.
That makes it a weaker choice for anyone counting on resale value to offset upfront costs.
Depreciation is another downside.
Insurance rates also run high for a three-row SUV with a high-tech suite of safety systems.
For fixed-income buyers, potential mechanical issues make the Touring trim a risky investment.
According toiSeeCar, a new Nissan Maxima depreciates 51.4 percent after five years, trailing behind similarly priced competitors.
The Maximas biggest flaw lies in its transmission.
This is why Fix says that older Nissan models are not good picks for retirees because of these risks.
Mitsubishi ranks at the bottom among Japanese brands for resale depreciating 50% after 5 years according toCarEdge.
Additionally, the Outlander PHEV has been associated with reliability issues, which could lead to increased maintenance costs.
Older Outlander PHEV models also struggle with battery longevity, electronics failures and higher-than-expected repair costs.
Fix directly warns against older Mitsubishi vehicles, citing their expensive repair patterns and weak resale history.
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