08/07/2013 09:59 am ET

Car Buying Demographics Shift As Baby Boomers Age


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, Va., 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.”

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