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Millennials Finance Cars at Higher Rate

Millennials Finance Cars at Higher Rate Featured

A recent TransUnion study found Millennials’ appetite for new auto loans has grown at a faster rate than Gen X borrowers at the same age points.
TransUnion’s study evaluated credit origination trends over 12 months (2015 for Millennials and 2001 for Gen X) for both generations at the same ages between 21 and 34. The study found that Millennials are opening new auto loans and personal loans at a higher rate.
The study found 14.58 percent of Millennials opened new auto loans between the ages 21-34. For Gen X borrowers, it was 12.09 percent at the same point.

Last modified on Thursday, 31 August 2017 00:43