The su­per high­way

Spend a nest egg wisely or grow old dis­grace­fully ... try these for mo­tor­ing into the sun­set

The Courier-Mail - Motoring - - Cover Story - BILL McKIN­NON

ONCE upon a time, re­tire­ment used to be so sim­ple.

You toiled un­til your 65th birth­day, knocked off, col­lected your su­per­an­nu­a­tion or the pen­sion, took up bowls, golf, punt­ing or home brew­ing and shuf­fled off this mor­tal coil a few years later.

It’s all so com­pli­cated now. You might hit 100 but your su­per could all be gone when you’re 75 and you might have to keep work­ing un­til you’re 98.

One way or an­other, you’ll need a car — and not just any car, ei­ther. The car you buy when you re­tire has to meet spe­cific cri­te­ria, re­gard­less of what you spend.

As we slide in­evitably into old age and de­crepi­tude, we want a car that’s kind to our body and easy to drive.

Then again, you may wish to grow old dis­grace­fully with a Nis­san GTR chipped for 700 horse­power.

Let’s look at the big is­sues on the road to re­tire­ment. On av­er­age, a new car de­pre­ci­ates by 25-30 per cent in the first 12 months. In the first three years, it’s 50-60 per cent.

When you’re on a fixed in­come in re­tire­ment, no mat­ter how much or how lit­tle that is, de­pre­ci­a­tion on a new car will tear up your hard­earned cap­i­tal.

So a late model used car will ef­fec­tively put money into your re­tire­ment ac­count com­pared with a new one.

You should be able to get a fac­tory-backed used car war­ranty on Model X if you buy from that brand’s fran­chised deal­ers. That’s the safest place to buy a used car be­cause the used stock is usu­ally bet­ter qual­ity, of­ten sold new by the dealer and ser­viced by them as well.

Third-party af­ter­mar­ket war­ranties are not worth the pa­per they’re writ­ten on.

If only new will do, that’s OK be­cause some cars hold their value much bet­ter than oth­ers. Star per­form­ers in­clude the Toy­ota Prado, LandCruiser 200 Se­ries, HiLux and, in all prob­a­bil­ity, the new For­tuner.

Mazda’s 2, 3 and CX-5, Subaru Forester and Out­back, Porsche Cay­man, Ma­can and 911 also claim bet­ter than av­er­age re­tained val­ues. There’s a very good rea­son why you see so many old blokes driv­ing Toy­ota Cam­rys. They’re the au­to­mo­tive equiv­a­lent of cash and fixed in­ter­est in­vest­ments — the re­wards aren’t spec­tac­u­lar but they’re de­pend­able and risk-free.

You can be pretty con­fi­dent of min­i­mal grief from Toy­ota, Lexus, Porsche, Honda, Mit­subishi, Mazda and Hyundai. Kia has the mar­ket’s long­est war­ranty — seven years/un­lim­ited kilo­me­tres — so we’re happy to rec­om­mend its cars as well.

Newspapers in English

Newspapers from Australia

© PressReader. All rights reserved.