 |
A lot has been written or said about millennials, the group following Generation X also known as Generation Y or Gen Y, Generation We, Generation Next and Echo Boomers. Not all of characterizations are complimentary, as the name Generation We suggests.
And some of their views help flesh out the picture – including car-buying behaviors.
USA Today recently reported on two studies.
In surveys by the University of Michigan, a study of high school seniors conducted continuously since 1975, and a study conducted by UCLA since 1966 among students entering college shows:
- About 75 percent of millennials – those born from the late 1970s to the early 2000s – say being wealthy is important to them, compared to 70 percent of the X generation and only 45 percent of Baby Boomers surveyed between 1966 and 1982.
- Interest in political affairs fell to 35 percent for millennials from 39 percent for Gen X and 50 percent among Boomers.
- “Developing a meaningful philosophy of life” dropped to 45 percent from Boomers’ 73 percent.
- Getting involved in cleaning up the environment fell to 21 percent from Boomers’ 33 percent.
Automobile dealers who are paying attention are changing with the times, adding “mobile apps, young or young-thinking salespeople, Internet marketing expertise and showroom tools to convince Gen Y shoppers that they are getting a fair price on their vehicles,” according to Automotive News.
“If it’s not easy or convenient, I’m not interested,” said a millennial in the same publication.
By now you might wonder what this has to do with Santander Consumer USA, www.SantanderConsumerUSA.com, and its RoadLoans brand, RoadLoans.com. Quite a lot, it turns out. Santander already is geared up for easy and convenient auto financing at RoadLoans, where you can shop online for a loan or refinancing in three simple steps: apply, download a voucher once you receive an approval, and go to the dealership to shop for your car.
RoadLoans offers multiple financing options to fit your budget and RoadLoans dealers can help you find the best deal on your car. And for added convenience, RoadLoans provides smartphone apps for both iPhone and Android that include loan calculators, car reviews and more.
And it’s not just the millennials to whom such convenience is appealing.
Automotive News quotes Mark Rikess, CEO of the Rikess Group, an automotive retail consultancy reports, saying, “Interestingly, the same tools and practices that work with young shoppers tend to appeal to female car buyers and tech-savvy shoppers of any age,” who want “a no-haggle experience with a salesperson empowered to get them through the process quickly and transparently.”
“I applied online and within seconds, my auto loan was approved,” said a RoadLoans female customer from Florida. “I chose a vehicle online the next day. Within 24 hours, I was driving my 2008 Dodge Magnum. The entire process was done online.”
If you need financing for your next car or other vehicle, visit RoadLoans.com to get the process started.
Written by:
James Mayfield is the Director of Content at Santander Consumer USA and has been creating content on financial topics for more than 10 years. In addition to writing for the Santander, RoadLoans and Chrysler Capital blog sites, his work has…
More articles by James Mayfield
