Why Used ‘Ugly Cars’ Are Popular Among Millennials
I’m sure you’ve experienced the logic of Millennials (as one myself, I struggle daily with my lack of rationale). We’re typically looking for ways to stand out, and this is often attempted by stylizing something that is generally regarded as being out of style. Therefore, when it comes to one of the most popular used vehicle among that demographic (18 to 34 years old), you shouldn’t be shocked to hear that the vehicle hasn’t been in production since 2005… and it’s also regarded as one of the ugliest cars ever produced.
If you’ve been thinking about visiting your local used car dealers in Lexington, Kentucky, see why there may be limited selection on some unexpected nameplates…
A recent report by Edmunds.com (and passed along by Kirsten Korosec of Fortune.com) notes that millennials are typically seeking “used, out-of-production, and family friendly vehicles.” That has led them to the Pontiac Aztek, which has seen an unexpected boom in sales recently. Regarded as one of the least attractive vehicles of all time, the vehicle recently made a name for itself when it was seen on the popular television show Breaking Bad.
However, Jeremy Acevedo, an analyst at Edmunds.com, believes it’s the cars’ prices that are impacting the overall sales.
“They may not go into the shopping process targeting these lesser-known vehicles, but when they see how their price tags stack up against other, better-known vehicles, they suddenly become a lot more attractive,” he said. “When it comes to used cars, value and utility appear to trump just about anything else for many millennial buyers.”
The report analyzed the registration date “of every used car model purchased over the last five years to identify the share of model’s sales to these young car shoppers.” Six of the top-10 models aren’t currently being produced, including the car on the top of the list, the Dodge Magnum, which hasn’t been in production since 2008.
Among the other models on the list are the Chrysler Pacifica, Subaru WRX, Chevrolet TrailBlazer, Volkswagen R32, Nissan GT-R, Saturn Outlook, Dodge Durango and Lexus IS F.
A separate, recent Edmunds survey showed that the majority of millennials aren’t willing to put down more than $2,999 on a new car or spend more than $299 on a monthly payment. As Korosec notes, that would limit their selection of vehicles to those with prices south of $20,000.
If you’re seeking any of those vehicles, you may actually have some issues finding them on your local used car lot. If you’re seeking a more expensive (and more attractive) vehicle, you shouldn’t have any issues, especially at Dan Cummins used dealership. You could easily be driving out of the lot in a purchased car in no time!