After vehicle shortages in recent years, experts say the market for new vehicles should reach pre-pandemic levels in 2024. That’s good news if you’re in the market for a new car and don’t want to wait forever (or pay an inflated price).

But there’s more to consider when buying a car than price and availability. At this stage of life, your decision process is different than when you were itching to get on the road at 16 or adding a car seat to the back row of the station wagon.

Whether this is your first new car purchase in decades or the first since becoming a grandparent or caregiver, determine what you’re looking for before you start shopping or test driving.

This can be tricky, especially if you have a fixed income or other family members with strong opinions on what to buy. Here, we’ll walk through 20 questions to guide your thought process and help you find the right car for this season of your driving life.

There are no wrong answers to these questions; they’re simply a guide to help you narrow down your options—or to broaden your horizons. You may decide that now is the time to go for the car that’s fun and flashy instead of the one that’s sensible and practical!

Establish Personal Preferences

Your budget has changed. The way you spend your time has changed. The way your body feels after a long drive or since your knee replacement surgery has changed. Start the conversation about your next car by thinking about your current priorities.

  1. If you have a partner, is this a car you’ll both drive? 
  2. Will any of your boomerang children or grandchildren be driving the vehicle?
  3. Do you want something new or used?
  4. Will you drive this vehicle often?
  5. Is this a vehicle you want to drive until the wheels fall off, or do you think you’ll purchase something else in a few years?

Review Budget and Costs

Whether you’re retired, still working, or some combination of the two, cost is a key factor in the decision-making process. Maybe you’re on a fixed income; maybe you have more income than ever, but you’d rather spend money on traveling abroad or spoiling grandkids than a new car. Consider the financial aspects before hitting the showroom.

  1. Will you be trading in a vehicle? If so, will you do it at the dealership, or will you sell it privately?
  2. Will you use this car for a business (think tax deductions)?
  3. Do you want to purchase the vehicle online or in person? Do you want to shop at a big dealership or a smaller local lot?
  4. Do you have a down payment ready? If so, how much do you want to put down? 
  5. How do you want to finance the vehicle? Are you open to a lease?

Practical Considerations

Once you’ve settled on a budget, think about how you’ll be using the car—beyond getting from point A to point B. This may help you hone in on which make and model is best for your phase of life.

  1. Will you use this car to travel long distances?
  2. Will you use the vehicle to transport older relatives or young grandchildren and great-grandchildren? (If so, consider things like automatic sliding doors for ease of getting in and out, child locks, the height of the vehicle for getting up and in, and grab handles.)
  3. Will you be using it to haul an RV, store items needed for a hobby or new business (kayaks or photography equipment, for example), or to move across the country to live near grandkids?
  4. Is this potentially the last car you’ll purchase? 
  5. Is it time to buy the wheels you’ve always dreamed of, like a convertible or collector car?

Narrow Down Options

You’ve talked about the costs. You’ve thought about the practical aspects and weighed the possibilities of future changes. Now, it’s time for the fine-tuning.

  1. Do you want to stay with a brand you’ve always driven, or try something new?
  2. Will this be your only vehicle? If so, consider factors like reliability, ease to fix and maintain and gas mileage.
  3. What color do you want (interior and exterior)? 
  4. What features do you want (such as four wheel drive, self-parking technology, sunroof, leather seats, pet friendliness, electric/hybrid, gas efficient, etc.)? 
  5. What are the non-negotiables? (Think safety features, pricing, long-term value for resale, wheelchair ramp, ease of entry/exit due to mobility challenges, etc.)

After you think through all 20 questions, you may end up driving off in something completely different than what you intended to buy. Be open to the possibilities—and enjoy the ride!

Selling an old car to make room for the new one? Check out: 4 Ways to Get Rid of a Car.

Tell us about your experience buying a car in later life. Good, bad or surprising–share your stories in the comments below.