A recent survey by Capital One Auto found that Generation Z members, currently between 18 and 28 years old, accounted for the largest share of first-time car buyers and led in near-term buying.

Car Buying Trends

The survey results show that young car shoppers typically spend more time looking for a car, visit more dealerships during their car-buying experience, and make decisions based on how much they can afford given the total cost of a vehicle.

Auto expert Philip Reed says these results may indicate Gen Z car shoppers are moving through the car-buying experience with confidence, focusing on fact-based information and total ownership costs.

Gen Z respondents stated that buying a car is a priority for their generation, and 67% deemed owning a car “more important” for their generation than for their parents and grandparents.

Survey Findings

The survey results also show that people in this age group generally spend more time car shopping than other generations, with 45% of Gen Z respondents spending between three and 12 months searching for their car.

Additionally, Gen Z respondents were the most likely to shop either exclusively online or shop both online and in person, and they visited more physical locations on average than other groups, averaging 3.4 dealerships over the course of their car-buying experience.

Original reporting: KRDO (Colorado Springs metro) — read the source article.