Millennials are ditching cars for ‘experiences’

Millennials are riding dirty — on bikes, buses and any other forms of public transportation instead of in their own cars.

More and more young people are starting to ditch their vehicles in lieu of other forms of transportation, especially as public transit options become more abundant. Jill Hennessy, a clinical professor at Northwestern University, told NPR the economy is to blame, as Millennials have witnessed their parents struggle financially despite varying education levels.

With youth unemployment at 12.7 percent, more and more young Americans are delaying major life events such as buying a car or a home. College students who are lucky enough to find jobs as it is are settling for part-time work, where making $7.25 per hour sure isn’t going to ease the financial burdens of a car payment.

“They’re much more likely to find value in experiences than they are to find value in things,” Hennessy told NPR.

She said that when asked if they want an automobile, Millennials will actually take the time to ponder the decision to purchase a vehicle or not.

“While they do still want to own a car — not as much as they want to own a smartphone, by the way, that’s the physical possession they’re most attached to — they are thinking about, ‘Do I need a car or not?’ in a way that I think five years ago or 10 years ago we wouldn’t have seen to the same extent,” Hennessy said.

According to the New York Timesonly 46.3 percent of potential drivers 19 years old and younger had a driver’s license in 2008 compared to 64.4 percent in 1998. Additionally, 46 percent of drivers between the ages of 18 and 24 would choose to purchase Internet access instead of owning their own vehicle.

Economic woes aside, the Times found Millennials essentially no longer need cars to connect with friends or the outside world. Instead, young people are able to join up with friends — without debating over gas money — via social media.

While cars are on the out for Millennials, young people do still seem to be enjoying cultural outings, though, especially when it comes to food.

“It is a culture that I really do enjoy — going out to eat,” 28-year-old Alyssa Rosenthal told NPR. “Getting a good drink and being in that atmosphere, it’s a lot of fun.”

 

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