MT on Millennials

"davesaddiction @ opposite-lock.com" (davesaddiction) 07/30/2014 at 20:25 • Filed to: None

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"According to a recent survey by car-sharing service Zipcar (another vehicle-ownership disruptor), 53 percent of millennials claim that the high cost of maintenance, parking, and gas make it difficult for them to own a car. Only 35 percent of older generations feel the same." Further, 99% of individuals aged 3-15 years old find owning a car difficult.

Obvious statistic is obvious.

T5Killer > davesaddiction @ opposite-lock.com 07/30/2014 at 20:28

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Plus zipcar only operates in Major cities so people there are more unlikely to own a car vs more rural/suburban dwellers.

themanwithsauce - has as many vehicles as job titles > davesaddiction @ opposite-lock.com 07/30/2014 at 20:32

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How shocking that the reduced buying power that the "millenial" generation has per dollar combined with the rising cost of ownership between initial purchase price, fuel, maintenance, and insurance means that this generation find it more difficult to own a car than previous ones.

shenggzzz > davesaddiction @ opposite-lock.com 07/30/2014 at 20:36

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Zipcar is so expensive. If someone needs a car, why not just get a cheap beater from craigslist for less than $1000 bucks..

davesaddiction @ opposite-lock.com > themanwithsauce - has as many vehicles as job titles 07/30/2014 at 20:41

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That's not even what the stat says - all it proves is that younger people find it harder to afford owning a car than older people.

Also, 30 year-olds have many more children, on average, than 10-year-olds, and 3 month-olds have far fewer teeth than 40 year-olds.

themanwithsauce - has as many vehicles as job titles > davesaddiction @ opposite-lock.com 07/30/2014 at 20:47

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Ah, guess I missed that it just specified gas and maintenance and parking. But still, it's yet another in the vein of "why is it that this generation finds it so difficult to afford what I found easy to afford when I was their age 40 years ago?"

MyCarDrivesMe > shenggzzz 07/30/2014 at 20:55

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Insurance, gas, maintenance, parking permit/garage parking fee (for cities) and the headache of having to bring it somewhere to get it fixed. I like driving too much to give up my car, but if you treat a car like an appliance and don't use it often (1-2 times a month) and live in a major city, it does make sense to use a zip car like service.

GhostZ > themanwithsauce - has as many vehicles as job titles 07/30/2014 at 22:47

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I wouldn't even say that they're buying power went down, the simple fact that they're younger means that they're in a lower income demographic regardless of whether or not the prior generation could. Obviously they're going to find it difficult to afford a car.

GhostZ > shenggzzz 07/30/2014 at 22:48

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The type of people who use Zipcar wouldn't be caught dead in a car that is under $1000. That incurs risk and necessitates learning, two things that take people out of their comfort zones. Same reason people would pay much more money for a dealership to change their oil instead of do it themselves.

Also, the idea is that you use Zipcar three of four times a year only when you really need it.

themanwithsauce - has as many vehicles as job titles > GhostZ 07/30/2014 at 22:59

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Hmmmmm......well here's the thing, yes you have less income when you;re younger but you also typically have fewer financial burdens. No kids, smaller houses/apartments, less taxes....It's a bit of a wash. Now typically when you're older you have more stability as you probably have an established job/career, savings, and less insurance (hopefully....) so that might swing it.