Conventional wisdom suggests that Millennials are all moving to urban centers, buying bikes and giving up their drivers’ licenses. But, like so many other popular perceptions, that’s not quite on target.
If anything, studies suggest that as Gen-Y ages, members of this tech-savvy generation are heading back to the suburbs, starting families and, yes, even buying cars. Indeed, new research by Bankrate.com finds Millennials more likely to buy a car than any other age group over the coming year.
“The notion that Millennials are not interested in buying a car is being turned on its head,” said Mike Cetera, Bankrate’s personal loans and credit analyst. “This is starting to shift from what we’ve seen before.”