Auto analyst TrueCar has given 2011 consumers information about what “Gen Y” or the younger crowd is driving, as well as data on top choices for the “Baby Boomers.” Now, in a press release Wednesday, the company is providing information about what America’s seniors, a slightly older group, are driving.
What TrueCar found in recent market studies is that those who are currently 65 and over have a lot of “classic” brands and models in their garages. The studies found that these older buyers tend to purchase the kinds of cars that they grew up with, making their purchasing decisions markedly different from those of other generations who are reaching out for new styles and vehicle designs, as well as modern brands.
In a list of top brand choices for seniors, Buick leads, followed by Lincoln and Cadillac in a near caricature of what you might expect elderly consumers to buy. Chrysler, GMC, and Chevrolet follow in spots 4, 5 and 6, with the bottom of the list trending towards upscale brands Porsche, Lexus, and Jaguar. Hyundai rounds out the list at #10.
TrueCar also provides a list of ten top models for seniors, where Cadillac gets three spots with the DTS, CTS and STS cars. The Lincoln Town Car tops the list, followed by the Buick Lucerne and the three Cadillac models. Sixth place goes to the Hyundai Azera, followed by the classic iconic Chevy Impala and the Buick LaCrosse. The list ends with the Lincoln MKZ at #9 and the Toyota Avalon, a car commonly known to be a car popular with seniors, at #10.
All of this might seem like old news, but by actually surveying some 200,000 seniors, TrueCar is bringing its review of generational buying trends in 2011 full circle, and this data can be helpful to dealers, as well as consumers who are looking for the hottest brands, either for researching resale values, or to steer away from overpriced models. Spend time looking for the best annual deals in your local community, and along with good financing research and negotiation on final sale price, you could get your dream ride for less. Whether it’s something new and trendy like the MINI Cooper or Fiat 500, or an old-school pick like those on the list above, use your credit and your down payment to your advantage, getting the lowest fees and interest rates to secure your late model purchase in an affordable way.