How Millennials Are Reshaping Car Buying
Millennials spend their money differently than the generations that came before. Since this generation grew up experiencing the economic effects of the great recession, millennials are renting longer, buying fewer houses, cooking more and eating at chain restaurants less often. But one question remains – how are millennials reshaping car buying?
Autotrader recently conducted a study that revealed how millennials purchase smaller, environmentally friendly and fuel-efficient cars, like the Mazda3 or Mazda6, because it’s more affordable. Because millennials face higher levels of unemployment and seemingly endless student loan debt, affordability weighs heavy in their car buying behaviors.
Another factor that influences millennials car buying behavior is where they reside. Millennials are more likely to live in cities where a car is not required for transportation. With convenient and cheap public transportation in most big cities across the United States, some millennials are moving to concrete jungles so they can cut out car purchases completely.
When millennials are in the market for a new car, they are most likely to know the brand and model they want. Millennials grew up with the most advanced technology, so doing research online about vehicles is a piece of cake for this generation. Money is tight for the millennial generation, so conducting first-hand research to compare different vehicles gives young car buyers financial peace of mind. Mazda vehicles are known for being very reliable vehicles, this also plays a role in millennials decision on which car brands to look into.
It is a big financial decision to purchase a car. Click here for more information about the affordability and safety of Mazda’s vehicles or visit your Mazda dealer of Orland Park to speak to a certified team member – they won’t even judge you for doing outside research beforehand. Check out our 2019 Mazda models or our pre-owned inventory! If you see a vehicle that catches your eye, come on it to Mazda of Orland Park and take it for a test drive today!
