TrueCar.com: Seniors Lean Toward American Luxury
A new study by TrueCar.com found that American luxury brands are still more popular among seniors in the U.S.
SANTA MONICA, Calif. — A new study by TrueCar.com found that seniors in America, which the Website defines as age 65 and over, chose vehicles from brands they grew up with. The new-car pricing and trends site reviewed the purchasing behavior of more than 200,000 car buyers from 2009 and 2010.
"Seniors are looking for a luxurious and comfortable vehicle from a brand they are familiar with and trust, and many seniors grew up with these iconic American luxury brands in their parents' garage," said Jesse Toprak, vice president of trends and analysis at TrueCar.com.
TrueCar.com compiled a list of the top brands purchased by seniors in 2009 and 2010 by percentage of buyers. Domestics held the top six positions on the list, with Buick, Lincoln and Cadillac leading the pack.
"We are starting to see senior citizens branching toward non-domestic brands and into luxury and high-performance models by Porsche, BMW and Lexus, but the majority of purchases of American luxury automakers are still made by seniors," said Kristen Andersson, automotive analyst for TrueCar.com.
For more information, visit blog.truecar.com.
Top Brands for Senior Buyers (Age 65 and Over) in 2009 and 2010 | ||
Rank | Brands | Percentage Senior Buyers |
1 | Buick | 57.5% |
2 | Lincoln | 47.7% |
3 | Cadillac | 44.0% |
4 | Chrysler | 36.1% |
5 | GMC | 32.4% |
6 | Chevrolet | 31.2% |
7 | Porsche | 29.5% |
8 | Lexus | 27.6% |
9 | Jaguar | 26.5% |
10 | Hyundai | 25.0% |
Top Models for Senior Buyers (Age 65 and over) in 2009 and 2010 and Current Discount Percentage | |||||
Rank | Make/Model | Percentage of Senior Buyers | MSRP (Manufacturers Suggested Retail Price) | Average Paid* | Percentage Discount from MSRP** |
1 | Lincoln Town Car | 89.6% | $ 48,170 | $ 41,595 | 13.6% |
2 | Buick Lucerne | 86.8% | $ 30,495 | $ 27,558 | 9.6% |
3 | Cadillac DTS | 84.8% | $ 47,600 | $ 38,395 | 19.3% |
4 | Cadillac CTS Wagon | 74.2% | $ 39,340 | $ 35,051 | 10.9% |
5 | Cadillac STS | 71.0% | $ 48,155 | $ 39,148 | 18.7% |
6 | Hyundai Azera | 64.7% | $ 26,270 | $ 24,353 | 7.3% |
7 | Chevrolet Impala | 61.3% | $ 25,320 | $ 21,830 | 13.8% |
8 | Buick LaCrosse | 58.9% | $ 27,990 | $ 25,732 | 8.1% |
9 | Lincoln MKZ | 53.8% | $ 35,520 | $ 32,232 | 9.3% |
10 | Toyota Avalon | 53.7% | $ 33,955 | $ 31,362 | 7.6% |
*Average paid is the estimated average transaction price of a vehicle after incentives.
** Percent Discount from MSRP is rounded to the nearest tenth
More Auto Finance
Mastering Credit Friction
In this video, Josh Krach explains how to turn credit friction into an advantage.
Read More →
April Less Affordable
Based on prices, reduced incentives and slower household income growth, consumers found it more challenging to buy new last month, Cox Automotive reported.
Read More →
Auto Lenders, Consumers on a Tightrope
April borrowing data shows that more consumers are bending over backward to buy vehicles, though subprime lending cooled off for the month.
Read More →
Toyota Financial Services President Replaced
Scott Cooke has served in various roles with Toyota Financial Services for over 20 years, including president and CEO, which he retires from on June 30.
Read More →
Permission or Approval: When to Notify Finance Sources
Credit card down payments, multiple vehicle purchases and even straw purchases can be completed without committing bank fraud, as long as you tell the bank first.
Read More →
At-Risk Auto Borrowers Drive Looser Credit Access
Cox Automotive’s index shows the subprime segment, long loan terms, negative-equity borrowers and down payment amounts all grew in February despite ever-higher vehicle prices.
Read More →
Auto Loan Forecast Bucks Market Trend
Auto loan originations rose over 6% year-over-year in the third quarter of 2025, but TransUnion predicts a slight decline in auto loan growth this year, making it an outlier in the company's overall lending forecast.
Read More →
Auto Credit More Plentiful
Growing access shows greater lender appetite for risk as consumers take on heavier debt burden in an inflated market.
Read More →
Auto Loans Long as Stretch Limos
More consumers, faced with ever-rising car prices, are adapting by agreeing to longer loan terms despite the cost of added interest payments.
Read More →
AutoPayPlus Launches RePayPlus
The reinsured biweekly payment program offers auto dealers with customer retention and reinsurance structure.
Read More →