Study Shows That Yes, Millennials Still Want Cars

Hi Carey,


Personal finance site NerdWallet recently released a study featuring the results of a survey that examines Millennial's sentiments about car ownership. We found that despite initial shock at the costs of insurance, maintenance and other car ownership costs, Millennials are still interested in buying. Below are a few key findings:


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35% of Millennials are still paying off an auto loan but just 12% regret purchasing their current vehicle.

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64% of Millennials with cars were surprised at the costs of vehicle maintenance; 68% were surprised about auto insurance costs.

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75% of Millennials see themselves buying another car in the next five years.


Here is a link to the full study: https://www.nerdwallet.com/blog/insurance/millennials-cars-expensive-still-want/ (https://www.nerdwallet.com/blog/insurance/millennials-cars-expensive-still-want/)


Let me know if you have any questions.


Best,

Diamond

 

| Diamond Richardson 
drichardson@nerdwallet.com |
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