More Recent Graduates Plan to Buy Used Rather Than New Cars

More Recent Graduates Plan to Buy Used Rather Than New Cars

Subprimenews.com – June 18, 2009 Situation 82% of recent graduates were aware that credit rating impacted car loan interest rates .

72% planning to finance 1st car have never checked their credit report CapitalOne survey shows.

 44% of recent graduates plan to buy 1st car w/ cash Only 29% planned to pay cash last year.

  Today’s 1st-time buyers and baby boomer parents named price as most important factor in car-buying decisions.

 67% of recent graduates plan to purchase used vehicles rather than new .

52% had not discussed buying process or operating budgets w/ parents .

 “Despite numerous financing options available to today’s young adults, fewer plan to take advantage of the benefits of bank financing (24 percent) than just a year ago (41 percent).” — Capital One Auto Finance

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