Millennials love cars. However, it takes them longer to decide to purchase a car. According to a study by J.D. Power on generational car buying, Gen Y has purchased more cars than Gen X to date. Buyers born between 1977 and 1994 accounted for 26% of new vehicle retail sales as compared to the 24% of new vehicles bought by those born between 1965 and 1976. The study also found out that Millennials gear toward smaller cars, although their preferences tend to change as their income improves and personal priorities change. Their counterparts, the Gen Xers are more interested in mid-size vehicles. On a side note, baby boomers, those born between 1946 and 1964, still account for the largest share of car sales: 38%.
Generation Y's car buying lesson
Aside from the interesting results of the study, another study, this time by AutoTrader.com, revealed that the younger generation has something good to teach us. They teach us to take some time before deciding which model to buy. Based on interviews conducted with thousands of Millennials, it was found that research was a crucial part of their car buying process.
The younger drivers do not necessarily buy from the first dealer they visit. Instead, they do their homework, ask friends or family members for suggestions and they also take the new car for a test drive. After all this, then they may buy the car. Choosing which car to buy is a hard decision. However, with the proper research, we’ll buy a car that fits our needs and budget.
Every time we get behind the wheel, we're putting our life on the line. This also includes everyone we're sharing the road with, including pedestrian. Everyone is affected by our car's performance. Just one faulty part could trigger an accident. Many car manufacturers recognize this, and one true testament to this is the massive attention they give to car safety tests. We should be concerned about our safety, too. Along with safety, you should also buy a car that is comfort, is the size you need and is at an affordable price.
As a Kentucky Accident Attorney, I would like to emphasize the importance of studying car reviews before making a purchase. Whether you are a young or older driver from Kentucky, your choice matters. Also, doing research will not only get you a better deal on a car, but it will also let you know of any recalls. This way, you can avoid buying a potentially faulty car.