Millennials aren’t chipping in on their first set of wheels, with less than 40% putting any money down for a car compared to 65% of Boomers and 53% of Gen X. They’re more likely to drive a used car, with more than 80% of all first-time cars purchased used, perhaps because “car ownership has lost its luster as a status symbol.” With Uber sweeping the nation and autonomous cars coming in hot, teens’ attitude about their first cars may be impacted. (MSN)
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