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Old 01-06-2016, 07:38 PM
 
Location: Central NY
4,651 posts, read 3,235,973 times
Reputation: 11907

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Quote:
Originally Posted by fumbling View Post
I would say most people stop driving by the time they hit 75. As much as I love driving, more than likely I won't be driving past 80. So say I retire at 60 (planning to retire before then but let's say 60 to make it simple), then that's just 20 years of driving, and it would be generally low mileage driving except for road trips. Two new cars can easily last those 20 years. For me, one reliable Japanese car and one American iron sports car, both new and paid for in cash before retirement, should take me to the end of my driving career. If one of them turns out unreliable, there may be a need for a third car but should be unlikely.
May I ask where you got this information?

I don't have any kind of documentation regarding this, but I personally doubt that statement very much.
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Old 01-06-2016, 07:51 PM
 
Location: Idaho
1,451 posts, read 1,152,796 times
Reputation: 5472
Here are some statistics on senior drivers

How Old Is Too Old to Drive? - ABC News

Quote:
Although they only account for about 9 percent of the population, National Highway Traffic Safety Administration statistics show senior drivers account for 14 percent of all traffic fatalities and 17 percent of all pedestrian fatalities.

A recent report by Carnegie Mellon University in Pittsburgh and the AAA Foundation for Traffic Safety found the rate of deaths involving drivers 75 to 84 is about three per million miles driven - on par with teen drivers. Once they pass age 85, vehicular fatality rates jump to nearly four times that of teens.
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Quote:
How much do seniors drive?
Based on 2008 travel data, drivers 70 and older drove 45 percent fewer miles, on average, than drivers ages 35-54. Older drivers are traveling more miles than they used to. From 1995-96 to 2008, average yearly mileage increased by 42 percent for drivers 70 and older, compared with a 21 percent increase for drivers 33-54.

An Institute survey of 2,500 drivers 65 and older found that drivers with reported impairments in memory, vision, mobility and/or medical conditions such as arthritis or diabetes were more likely than other drivers to self-limit their driving by making fewer trips, traveling shorter distances, or avoiding night driving, driving on interstates or driving in ice or snow.
Based on the above information, it's a good idea for seniors to assess their driving skills and car needs as they get older.
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Old 01-06-2016, 07:53 PM
 
Location: Near a river
16,042 posts, read 18,964,817 times
Reputation: 15649
Quote:
Originally Posted by fumbling View Post
I would say most people stop driving by the time they hit 75.
Are you kidding? Everyone I know in their 80s or 90s is still driving. Some can't even turn their heads or torsos or lift their feet and two I know can't even get in and out of the car by themselves (Parkinsons) and....they still drive. I pray for the day of robotic cars.
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Old 01-06-2016, 07:54 PM
 
Location: Near a river
16,042 posts, read 18,964,817 times
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Quote:
Originally Posted by BellaDL View Post
Based on the above information, it's a good idea for seniors to assess their driving skills and car needs as they get older.
Everyone I know of advanced age is in denial and would never stop and assess anything. They want to be on the road and believe they deserve to be, everyone else be da**ed.
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Old 01-06-2016, 07:58 PM
 
2,036 posts, read 1,945,197 times
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Quote:
Originally Posted by NYgal2NC View Post
May I ask where you got this information?

I don't have any kind of documentation regarding this, but I personally doubt that statement very much.
Maybe I should have said most "reasonable" drivers who are aware of their growing limitations. I'm a good driver but don't plan on driving past 80.
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Old 01-06-2016, 08:00 PM
 
Location: Forests of Maine
30,669 posts, read 49,416,421 times
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How old you are while still driving is very individual.

My grandparents all drove into their 90s.
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Old 01-06-2016, 11:17 PM
 
Location: VT; previously MD & NJ
2,183 posts, read 1,338,732 times
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The only thing I can think of that would stop one from buying a car in retirement is if you can't afford to buy for cash and your income is too low to get a loan. This could happen if part of your retirement "income" is coming from savings or investment withdrawals.
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Old 01-07-2016, 08:45 AM
 
6,303 posts, read 5,042,575 times
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I got to drive a new truck with a V-8 engine yesterday - on the freeway. Boy what fun. Now I know why I hate driving. I just don't have the right vehicle. I have a Hyundai Santa Fe. It is a v-6, but feels so sluggish and its not that "old" mileage wise. Just 47K miles in almost ten years.

I have had my eye on the new Chevy Colorado.
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Old 01-07-2016, 09:13 AM
 
Location: CT
3,461 posts, read 1,853,604 times
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Yeah, retiring in two years and we bought a new one this year, I had cash but figured with interest rates at less than 2%, better to leave our cash in the market to earn more than that (current market- grrrrr!!!!). When I retire, it'll be more than half paid for and we could pull our money out and pay it off. So, you'll have to judge for yourself, can your money work harder for you in the bank vs. the current interest on a car loan? One other consideration, after you retire, would you get the lowest rate, or could you do better now with a paying job?
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Old 01-07-2016, 09:59 AM
 
Location: Central Massachusetts
4,800 posts, read 4,842,106 times
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Quote:
Originally Posted by reneeh63 View Post
Lots of people seem to think that buying a new car at the outset of retirement will "be their last". If you're retired for 20 years, it may not be!

I'd buy cars in the same manner as before retirement - several years old but in good shape and from a reliable source - then I'd plan to keep it for 10-15 years. And I'll also plan on possibly needing another car before I'm done!
That is absolutely the best way. 10 years might be my max because older car warrantees run out long before that. Still there is a lot to say with keeping going with what got you there.

Quote:
Originally Posted by luvmyhoss View Post
We get a new car whenever we want one.

Leasing is also an option
like us we buy when we want. The last one my wife bought is nearing 8 years old and will probably be replaced in a year or two. My car 2012 lacrosse was recently totalled in an accident with 107k and I only got $16k for it so I bought a 2012 MKZ to replace it with 25k miles on it. I did that because I didnt want big payments as I am in retirement starting April this year.

Leasing is an option especially if you are low mileage drivers. In my case I am not a low mileage and probably will not drop much mileage in retirement either. I just dont see that happening for some years yet. It is because my wife likes for me to be her [SIZE=3]Chauffeur. Spoiled woman !!!!![/SIZE]


Quote:
Originally Posted by Submariner View Post
My Dw drives a Prius hybrid. She loves it, it has around 130k miles on it and has not had any problems.

I have been leasing a Corrola, I have another 2 months to go on it's lease. I have not decided if I want to lease again. I might buy a pickup.
that is a lot of miles on that battery powered skateboard.



rjm1cc mentioned it is never good to do a lease and I am assuming that he means especially in retirement. I would disagree to a degree. As I stated above if you do not do much driving leasing a car every two years allows you to keep current model cars with approximately the same payments and no maintenance whatsoever now with many dealers providing oil changes free of charge. yes it does mean a payment every month but remember you cant take it with you. It is better if you are self employed and that car is a business expense but it is still a safe feeling for those who do not want to deal with worries that a car is not ready to go. If money is tight however I will agree rjm1cc buying a late model car every few years that has a few miles on it makes much more sense than buying a brand new one or leasing.
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