Millennials Are Ready To Start Buying Cars

Drivers on the roads may be getting younger and younger. According to a recent study from Deloitte Consulting, more members of Generation Y – people born between 1977 and 1994 – are considering investing in a car in the near future. The survey found that more than 60 percent of consumers in the age group are looking to buy or lease a car in the next three years, and they have a few specific needs and wants. 

Now that so many younger drivers are turning their attention to the roads, the types of features that they are looking for are coming into focus. For many, the items at the top of their wish list revolve around finances, with the sticker price, expected maintenance costs and fuel expenses all influencing the final decision. 

"Affordability is the mantra for Gen Y consumers who don't already own or lease a vehicle," said Craig Giffi, the vice chairman of Deloitte LLP. "When asked what purchasing criteria matter most to them, a majority cited cost-related items such as the vehicle's price tag, fuel efficiency and payment options." 

However, these younger drivers don't want to skimp on some of the top features a vehicle can offer. Aspects ranging from entertainment technologies to smartphone connectivity are popular, and the general consensus was that drivers want their vehicles to act as an extension of their personal lifestyle. 

Drivers of any age can find the right vehicle at NJ Auto Auction. There, they can browse through an expansive selection of hundreds of Carfax-certified cars, trucks and vans, many of which come with great features that can meet the needs of any motorist. It also has its own financing department, which can work within a budget that a buyer may have.