![\"My](\"#BLOGPATH#\/wp-content\/uploads\/2020\/08\/header-1300x300.png\")
<\/p>\n<\/p>\n
Cars are more than inanimate objects in the American psyche: They\u2019ve come to represent liberty, flexibility, and growing up. For many, the car is a big part of who they are. But the method of acquiring the actual car may represent an even <\/span>bigger<\/span><\/i> part of who they are, as we recently found out.<\/span><\/p>\n After surveying 1,000 people across the U.S., we learned how a person\u2019s first car impacted their lives down the road \u2014 pun intended. The extent to which a person has autonomy over their first-car decision (as opposed to parental verdicts) can ultimately impact the level of appreciation and enjoyment down the road. Both the reasons for wanting the car and the methods for obtaining it varied widely amongst respondents, and often contributed to the type of car owner they later became. Join us as we unpack their exciting and often emotional first car journey.<\/span><\/p>\n As respondents quickly revealed, there\u2019s something beyond price that provides the real value of a first car. The ability to go somewhere without your parents, mingle with friends more easily, or just feeling like an adult, even if the car is sitting in the garage. For this part of our study, we asked respondents to reflect on some of these less tangible (and more emotional) perks of getting a first car. <\/span><\/p>\n Most were in agreement that their first car gave them more social opportunities. Eighty-two percent of respondents overall agreed that their first car made them more social. Though 20-somethings are more able to be social even without a car today (through smartphones and Wi-Fi), this wasn\u2019t necessarily the case for many in their 50s or above. The car provided a literal connection in a time where the internet connection wasn\u2019t possible. That said, the impetus for these less tangible benefits may not have been driven just by technological differences.\u00a0<\/span><\/p>\n Even though most respondents agreed that the car <\/span>made them more responsible<\/b>, <\/span>gave them more work opportunities, and even made them a harder worker<\/b>, it was the older respondents that felt even more strongly about all of these things. Without wi-fi as an explanation, it\u2019s likely that their increased likelihood of having obtained the car themselves would have led to all of these less tangible benefits more readily. In other words, <\/span>paying for something yourself may make you more likely to cherish it<\/b> and cognizant of what it\u2019s really offering you. At least that\u2019s what the data would suggest.<\/span><\/p>\n Next we wanted to clearly understand how a person\u2019s \u201cfirst car\u201d comes to fruition in the U.S. We asked respondents to describe the car, how long they drove it, and how much say they had in the purchasing decision.<\/p>\n <\/p>\n In spite of this being Americans\u2019 very first car, buyers demonstrated a fair amount of autonomy in the decision-making. Sixty-six percent were able to say they chose the car themselves, regardless of who was making the actual purchase. That said, the affordable route was even more common: <\/span>77% of first-time car owners opted for a used vehicle.<\/b>\u00a0<\/span><\/p>\n There were a few key differences in the first car purchase across generations and age groups, however. Younger respondents were much more likely to still be driving their first-ever cars, but they were also <\/span>more often getting to <\/b>choose<\/i><\/b> new<\/b> cars<\/b>, even if they weren\u2019t the ones paying for it. Though these younger respondents haven\u2019t driven the car as long yet, we may see them hold onto the cars for longer considering the flexibility in choices and prices they had. Currently, the average time to hold onto a first car is 4.2 years. As for how far their first car was driven, numbers seemed to hover around the 40K mile range.<\/span><\/p>\n The average number of miles people drive in their first car was as follows:<\/p>\n This wasn\u2019t the only area where generations severely differed in first-car approach, however. The next part of our study factors in these age gaps as well.<\/p>\n Before respondents could enjoy the fruits of a new car, like newfound social freedom, they had to figure out a way to bring it home. Would they be purchasing the car themselves, or receiving a little help? And what about insurance? The next part of our analysis dives into these obstacles, and asks respondents how much they paid, as well as who was ultimately responsible for insurance payments.\u00a0<\/span><\/p>\n <\/p>\n When recalling the glory days of the first-time car buying process, Gen X and Baby Boomers recalled more autonomy than did Millennials. That said, Baby Boomers also received less financial help than their younger counterparts. Whether working odd jobs or setting up a viable payment plan, <\/span>Baby Boomers were more likely to be financially responsible for their own vehicle<\/b>.<\/span> This applied not only for the initial down payment on the car itself, but also the monthly payments and insurance payments thereafter. In fact, 56% of this generation was responsible for the entirety of vehicle insurance payments, compared to just 39% of millennials.<\/span><\/p>\n Looking back at how much participants actually paid for their first vehicle, younger generations again appeared to be living large but not on their own dime. <\/span>The average cost of the first vehicle for a millennial was $10,800<\/b>, while for Baby Boomers it was just $3,500. Though inflation is certainly at play here, a dollar\u2019s value typically <\/span>only decreases by a few percentage points<\/span><\/a><\/span> each year. Instead, the price difference is likely reflective of what we saw earlier: Younger respondents were more likely to receive new cars of their choosing that they didn\u2019t have to finance themselves.<\/span><\/p>\n Of course, respondents were also excited to recall what their first car actually looked like. As they reminisced over the experience, certain makes and models were evidently more popular choices than others.<\/span><\/p>\n Honda took the top one and two spots for the most popular first car. Their Civic and Accord models were the respective first- and second-place winners. Today, the new 2020 Honda Civic will typically cost around $20,000. Toyotas were also popular for first-time car buyers, which cost<\/span> just slightly more<\/span><\/a> than the Civic for their 2020 Corolla model.\u00a0<\/span><\/p>\nThe Perks of Getting Your First Car<\/strong><\/h2>\n
![\"First](\"#BLOGPATH#\/wp-content\/uploads\/2020\/08\/A1.png\")
<\/p>\nThat First-Time Feeling<\/strong><\/h2>\n
![\"First](\"#BLOGPATH#\/wp-content\/uploads\/2020\/08\/A2.png\")
<\/p>\n\n
The Road to Your First Car<\/h2>\n
![\"How](\"#BLOGPATH#\/wp-content\/uploads\/2020\/08\/A3.png\")
<\/p>\nFirst Make And Model<\/span><\/h2>\n
![\"Most](\"#BLOGPATH#\/wp-content\/uploads\/2020\/08\/A4.png\")
<\/p>\n
![\"The](\"#BLOGPATH#\/wp-content\/uploads\/2020\/08\/A5.png\")
<\/p>\n![\"Will](\"#BLOGPATH#\/wp-content\/uploads\/2020\/08\/A6.png\")
<\/p>\n