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Last year, Dave Rodham bought two Ford Mustangs -- a red one because it looked cool and then a white one with a big V-8 engine because it sounded cool. For Rodham, 63 and retired, those were his 50th and 51st cars.
“I have to have a new car every year-and-a-half to two years,†said Rodham, of Virginia Beach, Virginia, who said he pays cash for his cars. “After I retired 10 years ago, I didn’t have anything else to do, so I went out and bought new cars.â€
I can't believe what I'm reading.
The millenials could also save up for a new car if they weren't going out to eat 5-10 times a week, club every weekend and ball at the mall twice a month
The millenials could also save up for a new car if they weren't going out to eat 5-10 times a week, club every weekend and ball at the mall twice a month
Even if they curbed all that, the massive amount of student loans hanging over their heads would still make a brand new car purchase a lofty goal.
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http://www.bloomberg.com/news/2013-08-05/automania-strikes-boomers-supplanting-kids-as-buyers.html
The 55-to-64-year-old age group, the oldest of the boomers, has become the cohort most likely to buy a new car...
The whole economy is build around the savingless boomers continuing their self-indulgent ways now like they were 10 years ago.