Despite the rise of Uber and ride-sharing, the car industry is seeing “healthy growth” among Millennials—thanks in part to their affinity for auto leasing. According to Dealertrack, 18-34-year-olds amounted for more than a third of auto loans in 2015, “[l]ease applications grew 7% year over year, and there was an overall 49% increase in the number of Millennials with lease contracts between 2012 and June 2016.” Young consumers’ familiarity with subscription models like Netflix is a likely reason why they are choosing to pay low monthly payments to lease instead of owning a vehicle. (MarketWatch)
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