Gen Z Buying 6.5 Times More Used Cars Than New
Shoppers age 18 to 24, or Generation Z, buy 6.5 times more used cars than new cars, according to an analysis of Polk vehicle registration data analyzed by Edmunds.com. While it’s not surprising that college-aged consumers are buying used cars, what they’re buying is.
SANTA MONICA, Calif. — Shoppers age 18 to 24, or Generation Z, buy 6.5 times more used cars than new cars, according to an analysis of Polk vehicle registration data analyzed by Edmunds.com. While it’s not surprising that college-aged consumers are buying used cars, the pre-owned vehicles they’re buying is.
Through April, Generation Z purchased 181,906 used cars, compared to just 27,670 new cars. And according to the firm’s analysis, the Top 3 vehicles purchased by Generation Z are the Daewoo Lanos, Eagle Talon and Nissan 240.
“Incredible, out of the Top 20 used vehicles with the highest shares of Gen Z buyers this year, only one — the Mitsubishi Lancer — is still slated for ongoing productions,” Edmunds noted.
As for the used-car sweet spot for Gen Z, Edmunds found the group is mostly attracted to 10- to 15-year-old vehicles. In fact, the demographic has purchased twice as many 2001 to 2006 model-year vehicles this year and they have 2016 models.
“For most young car buyers, it’s price first and then everything else is gravy,” said Jessica Caldwell, director of industry analysis for Edmunds.com. “There’s no doubt that you’re probably getting a good deal these days on an Eagle Talon or a Ford Aspire — both of which ceased production in the ‘90s.
“It’s easy to look at this list and have a good laugh, but the kids buying these vehicles see them almost like a fashion statement,” Caldwell added. “If you drive a Daewoo while all your friends are driving newer Hondas and Toyotas, you kind of stand out from the crowd.”
Vehicles With Largest Share of 18- to 24-Year-Old Registrants
Daewoo Lanos 7%
Eagle Talon 6.2%
Nissan 240 5.5%
Acura Integra 5.1%
Honda Prelude 5%
Mistubishi Lancer 4.7%
Acura RSX 4.7%
Kia Sephia 4.7%
Ford Aspire 4.7%
Daewoo Leganza 4.6%
Saturn Aura 4.6%
Pontiac G6 4.3%
Scion TC 4.3%
Dodge Dart 4.3%
Suzuki Forenza 4.3%
Mitsubishi Galant 4.2%
Pontiac Aztek 4.2%
Dodge Caliber 4.1%
Suzuki Vitara 4.1%
Dodge Neon 4.1%
More Auto Finance

Auto Credit Plentiful
June numbers show lenders are readily granting access, including to risky borrowers, as consumers leverage themselves to take on high prices.
Read More →
Automotive Consumers Sink Further in Debt
Most financing metrics hit records in the second quarter as more buyers locked themselves into long terms and high monthly payments.
Read More →
Porsche Financial Services Shifts Structure
After 36 years with Porsche, the Financial Services Chief Financial Officer Konrad Riedl is retiring, and the department is realigning its management structure.
Read More →
Tariffs Could Raise Insurance Premiums
As U.S. import tariffs affect repair costs, consumers might find it more affordable to replace a damaged vehicle, according to recent Insurify tariff analysis.
Read More →
Smaller Loans, Longer Terms
The youngest generation of car buyers is more likely to finance less expensive vehicles, more than half of generation Z consumers borrowing less than $25,000.
Read More →
New Cars a Tad More Affordable
May averages show that combined circumstances gave auto consumers slightly better buying power for the month, though average prices were up year-over-year.
Read More →
First-Quarter Sees Long Auto Loan Growth
Experian data show more consumers are tapping the method, along with refinancings, to afford buying. Meanwhile, subprime borrowers are getting more access.
Read More →
Mastering Credit Friction
In this video, Josh Krach explains how to turn credit friction into an advantage.
Read More →
April Less Affordable
Based on prices, reduced incentives and slower household income growth, consumers found it more challenging to buy new last month, Cox Automotive reported.
Read More →
Auto Lenders, Consumers on a Tightrope
April borrowing data shows that more consumers are bending over backward to buy vehicles, though subprime lending cooled off for the month.
Read More →