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Cars are synonymous with our nation’s coolness factor. Many car owners have so much pride in their beloved vehicle that they even belong to fancy car clubs.
Yes, Americans have always had deep affection for their cars … or at least they did. Recent auto industry research now indicates that only half of the millennials even bother to get their driver’s license by age 18. This is due to rapidly changing trends that have pervaded our culture recently, affecting our automobile purchasing choices.
So while the general population still longs for their dream car, these three popular trends have changed its shape:
1.Cell Phone Dependence: With the overwhelming popularity of cell phones taking over just about every facet of our everyday life, it makes sense that today’s savvy car shoppers want an automobile that can fully utilize this device. As of 2020, many automobile makers, such as Volkswagen, Chevrolet, and Hyundai, are building their new models with Apple’s new connected-car application, called “CarPlay” (for Android cell phone owners, it’s called “Android Auto.”). This software on the dashboard makes it easier to safely interact hands-free with all of the features on your cell phone, eliminating the need for a blue tooth device. Many more car manufacturers are expected to utilize this technology in the coming years.
2. Safety Concerns: With the Internet and social media informing us of every tragic, scary, life-threatening event the moment it happens, Americans have become preoccupied with their own safety, and trying to protect it above everything else. Because of this mentality, cars have also come under pressure to provide ample safety features. Therefore, automobiles with excellent safety ratings and even driver assistance technology are essential to today’s car buyer. Whether it’s a blind spot monitoring system, a backup camera, or even a self-parking assist feature, all of these provide an added level of comfort and security to today’s cautious driver.
3. Caring for the Environment: Our culture is now preoccupied with taking care of our environment. Even Barak Obama has put his climate change action plan at the forefront of his presidential legacy. This trend means that when the next generation buys a car, they want to factor in its total carbon footprint. Big gas guzzler cars are waning in popularity in favor of smaller, economical cars that get excellent gas mileage. Electric cars are also on the forefront of this trend, as the Tesla and Prius brands’ skyrocketing car sales have proven.
First Financial Provides Auto Loans, Whether You Have Good Credit or Bad Credit.
When you’re shopping for a car loan, remember that First Financial has been in business long enough to recognize the subtleties in each borrower’s financial situation. We also know that more than 50% of Americans fall into the subprime category, with credit ratings ranging from “fair” to “poor” to “bad.” Thankfully our lending partners accept auto loan applications and approve these types of borrowers every day, so apply for an auto loan here today. You can also follow us on Facebook to get frequent financial planning tips and research.
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