Millennials Have An Eye For Used Cars

Every driver is different. Each one will have a distinct driving style on the road, in addition to specific ways of finding the right car in a sea of options. But many of these motorists learned from someone, and in most cases it was their parents. Even so, most young people believe they're better drivers and buyers than their parents, at least according to a recent survey from Edmunds.com. 

While the report found that 73 percent of car buyers ages 18 to 34 thought they were better than their parents, it also took note of a few other trends present among these young drivers. Millennials are increasingly becoming more informed, especially as they start looking for cars to invest in, and as a result, they are quickly becoming major players in the auto industry. 

"Value matters to millennials."

Young drivers see the value in used cars
If there's one thing millennials can agree on, it's that value matters. That's why many of them are drawn to used cars. According to the Edmunds.com study, used cars make up about 78 percent of millennials' purchases. These drivers have done their research, and that knowledge allows them to see that they can find many of the features they're looking for at affordable prices. They just have to be willing to scope out used options. 

"Millennials today are informed car buyers," said Avi Steinlauf, CEO for Edmunds.com. "They're making the most out of the volume of information available at their fingertips, and it's helping them to make a smarter car purchase. And since a smart car buyer is a quality car buyer, it all points to an optimistic and healthy future for the auto industry." 

Financing helps millennials get behind the wheel
Not everyone may be convinced that millennials are the next big car-buying segment. The Washington Post reported that many members of this age group are flocking to cities, where they often take advantage of public transportation to commute to work. They're also frequently saddled with student loans, which inhibits their ability to afford major purchases like a new car. But a value-driven used car is a good compromise. In many instances, these vehicles can be found at low sticker prices. Even if an auto loan is needed, it can be negotiated to manageable monthly payments, allowing a young driver to incorporate the financing into an already tight budget. 

Millennials are still going to embrace some new strategies as they hunt for the perfect used car. The Edmunds.com study noted that millennials are more likely to use technology to locate dealerships, compare prices and search for matches to their needs. They aren't afraid to do research to make sure they're getting the best possible deal, even if it means investing in a used car. 

Young people are using cellphones as a way of finding used cars. Young people are using cellphones as a way of finding used cars.

Any driver – regardless of age – can find what they're looking for in their next car at New Jersey Auto Auction. The lot contains hundreds of Carfax-certified used cars, trucks and vans, any one of which may meet your needs. You'll be able to find a vehicle you love at a price you can afford – all without sacrificing the value and features you're looking for.