Baby Boomers Shell Out for Fancy Wheels

By Justin Stoltzfus
Monday, Jul 25 2011 13:42

Even in tough times, the re-ordering of finances after children leave the nest is apparently still enough to tempt a certain demographic of buyers into luxury rides and high priced high-performance vehicles, at least according to TrueCar.com, an industry analyst that looks closely at consumer trends in the auto industry. According to a July 22 press release, people between the ages of 46 of 64, also known as the Baby Boomer demographic, are driving a lot of flashy vehicles these days. The new charts from TrueCar show top brands for baby boomers in 2009 and 2010, two years where American buyers had to deal with high unemployment and reduced income after the general economic crisis caused by the mortgage bubble and other factors. The high-design Mercedes-Benz manufacturer tops the list, with Jaguar, now owned by the Indian firm Tata Motors, and Porsche following along. Ford and Suzuki follow, with the German BMW brand closing out sixth place on the list. Dodge ranks seventh, with the upscale Lexus badge in the eighth spot. Ninth place is taken by MINI, a BMW marque that is also doing a brisk business with a younger crowd, as we reported last week. Volvo rounded out the list at number ten; the Swedish car maker has its own appeal with American buyers of all ages who want something a little different in their garage.

As for specific models of vehicles, the Porsche Boxster ranks first, followed by the BMW series 6 and the Mercedes SL roadster, two cars that you won’t be embarrassed to park anywhere. The Land Rover LR2 is an interesting choice for spot four, with the Mitsubishi Eclipse and Audi A5/S5 following. The eye-catching Volvo C70 convertible follows in seventh place, with the eighth place going to the Chevrolet Aveo hatchback, a fuel saver that’s getting a lot of attention. The Mercedes M class hybrid and the always familiar Chevrolet Corvette end the list.

For any of these specialty vehicles, getting a good deal can be tough. High amounts of auto loan financing can seem to put all the keys in the hand of the dealer. But with good comparison shopping and price research, as well as the usual tips for car financing, you can edge closer to a bargain on any one of these vehicles. Try a larger down payment, current review of interest rates, and savvy use of your credit rating to get more in your garage without taxing your household budget.

 


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