Lackluster Economy Puts Brakes on Millennial Car Purchases

Comments

• stovt001_ Member Posts: 799

  November 2013

  The tired, lazy explanation that young people don't buy new cars as much because they're more interested in cell phones always drove me nuts. Interest in a $200 item has almost no bearing at all on the purchase of a $20,000 item. That $200 smart phone purchase once every 1-2 years is far less than the monthly payment on a new car. A cell plan with data is maybe a quarter of a monthly car payment. No, the fact that a new lowest-trim, no-option compact starts at what often amounts to a year's salary is what is putting new car purchases out of reach. Young people aren't uninterested in cars by nature. They just can't afford to be interested in them.

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