Car Buying Millennials Want Vehicles To Reflect Their Status, Even Though Most Need A Co-Signer

More than 20% of young consumers, so-called millennials age 22 to 30, plan to purchase a car within a year, according a national survey by communications firm Capstrat.

Sixty-four percent of female millennials already have bought a vehicle, compared with 44% of males. Three percent of men and women say they’ll never buy a car.

A majority think their purchase should reflect their status, but most also say they need a co-signer.

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theman440 - 8/5/2011 2:55:21 PM

+3 Boost

Sign of the times huh?

PUGPROUD - 8/6/2011 7:47:12 AM

+4 Boost

If they had any status they wouldn't need a co-signer...its a reflection of the wanna be generation..."I wanna be somebody but I don't want to work hard or sacrifice anything." Pitty them when life catches up to them in their later years.

poot66 - 8/6/2011 12:10:23 PM

+1 Boost

actually that's not necessarily true. I'm 21 and I bought my car cash last year (02 I35) and have only had a credit limit of 5,000 which was a student loan. I wanted to buy a new car for 20,000 and couldn't get it because I didn't have "strong" credit since the highest credit was 5,000 dollars there was a 15,000 dollar gap. Hence they wanted my mom to co sign which she refuses to do. I make enough and my credit is good but I'm a first time buyer and don't have "strong" credit.

Steve - 8/6/2011 8:23:43 AM

+3 Boost

I think it's more accurate to say Millennials want their care to reflect their *parents'* status, and have observers think it's theirs.

quizz - 8/6/2011 9:20:27 AM

-1 Boost

Nope, parent's are just as broke. They want to reflect the status they desire others to perceive, even if it's greater than their parents' status.