More millennials are jumping into their own cars this year, despite the stereotype that they only get around on bikes and in ride-sharing services like Uber and Lyft.
The age group made up more than a third of all auto loan originations in 2015, according to Dealertrack, a dealership network under Cox Automotive, which owns Kelley Blue Book and AutoTrader.
Dealertrack defines millennials as 18-34 year olds. Such a trend may temper the automotive industry’s concerns that millennials will abandon car ownership.“There is a fear that this demographic group was only going to focus on ride-sharing and Ubers, and would not be interested in a car,” said Jason Barrie, vice president of market performance and finance and insurance solutions at Dealertrack. But “we are seeing healthy growth.”
Years ago my nephew leased a new Ford pick up from a Ford dealership. Ford did not have the upgrade model my nephew wanted, so he took a more base model then spent good money on nicer rims, body trim and graphics. The truck looked very nice.
When it came time to turn in the truck at the end of the lease the Ford dealership told my nephew that he was going to have to pay an additional fee because the truck had been altered and it would cost them time and money to return it to a stock base model. What a crock of shiat.
That shiat is written into the contract, so the nephew should own that one.
And why the heck would you spend money to upgrade a car you don’t own? That’s like renting a car at the airport and upgrading the stereo for your trip.
Nephew learned a lesson, I’d say.
Don’t spend your own money altering stuff that belongs to someone else and then act shocked when they tell you to put it back the way it was originally. Particularly when you’ve signed a contract agreeing to those terms.Besides, what you and your nephew think of as improvements to the truck may not be considered desirable by everyone. Leasing companies have no interest in getting into a legal battle over whether someone improved or devalued their car by adding a fart can exhaust and a spoiler, and spray-painting some sick racing stripes.