Report

Millennials Like to Rent Cars Before Buying Them

Turns out renting cars is a way for younger buyers to test out new technologies.

Not long ago we reported that young people today are more interested in cars than previously thought. These so-called Millennials were thought to be more focused on smartphones and other types of social media than on driving and buying cars. Well, turns out that wasn’t quite accurate. In fact, these young adults, according to yet another new survey, like to use car rentals as extended test drives.

The survey found that 79 percent of 25- to 34-year-olds surveyed believe that having one’s own car is "extremely important." What’s more is that 68 percent said that their first experience with new car technology comes from rental vehicles. So what does that mean exactly? It tells automakers that rental cars equipped with the latest technology is great exposure for them. Another 53 percent of those surveyed stated that they choose a rental vehicle based on a desire to try something new. That number indicates to rental companies that it may be important to keep their fleets up to date and well equipped in order to better attract customers.

88 percent of millennial respondents claimed that a positive rental experience could make them change their minds about a specific make and model. A further 28 percent indicated that such an experience would also motivate them to go car shopping. The bottom line is that a good rental experience, which includes a good car, will often get young adults "in the mood" to buy a new car.

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