Prostock-studio/ShutterstockAs a retiree, you need to make sure that all of your financial expenses are justified in your budget, whether they are wants or needs. Living on a fixed income of Social Security, employee retirement plan payouts, and personal savings is a balancing act and you don't want to be one of the many retirees who instantly ends up spending unnecessary money on purchases.So when it comes to picking your next mode of transportation, choosing the right car for retirement should be done with care and consideration. Luckily, the 2024 Toyota Camry is one of the best cars that retirees can buy today with a Kelley Blue Book listing the market suggested retail price (MSRP) at anywhere from $21,000 to $25,000.It's not just the price of the 2024 Toyota Camry that's a deal, but all of the features inside the midsize sedan's cabin and under the hood that make this the ideal retirement car.AdvertisementAdvertisementRead more: 12 Cars For A Retiree, Ranked Worst To BestThe pros and cons of the 2024 Toyota CamryDiPres/ShutterstockOne of the key factors to a successful retirement is your lifestyle choice, which ultimately will affect your finances and what you are able to spend on a comfortable life after clocking out from the workforce. Buying a 2024 Camry checks the box for being a well-priced retirement car, but there is so much more to this Toyota than the cost.On the plus side, Car and Driver noted that in a market flooded with sports utility vehicles, this "Camry continues to offer the old-school alternative of a competent, comfortable, dependable, economical, low-key midsize family sedan."However, Edmunds pointed out that while this vehicle is a solid choice for anyone, the 2024 Toyota Camry has a "lackluster four-cylinder engine and excessive wind and engine noise keep it from being best-in-class." This didn't stop Edmunds from ranking the Camry as one of their top-rated midsize vehicles while also highlighting that other cars it its class, such as the Honda Accord and Hyundai Sonata, might be outpacing it in terms of staying up-to-date with what drivers are looking for in an affordable vehicle.Best practices for buying a car in retirementMonkey Business Images/ShutterstockYour life changes when you retire, especially in how you go about making large purchases and covering your everyday cost-of-living expenses. Buying a car in retirement is different than when you are working, though both times in life require a shopping strategy, whether you are buying new, used, or leasing a car.AdvertisementAdvertisementMoneywise suggested that for car buying in retirement, you should evaluate your needs in a vehicle, do your homework on the make and model of the car you want to purchase, and assess your budget to plan for how much to spend, including gas, insurance, and potential maintenance.One great place to start planning before you set foot on a dealership or check out a website selling cars is Consumer Report's Guide to Car Reliability and Owner Satisfaction. You can research survey-based data on automotive reliability, as well as get honest owner satisfaction reviews so you know exactly what to expect from your car in retirement, whether it is a 2024 Toyota Camry or other vehicle.Found this helpful? Subscribe to the Money Digest newsletter and unlock your financial potential. And add Money Digest to your preferred sources for smart money insights!Read the original article on Money Digest.
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