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I own a car now, simply because I tried relying on public transport for a year and found the experience pretty depressing - it makes your day so very long (I wa

I own a car now, simply because I tried relying on public transport for a year and found the experience pretty depressing - it makes your day so very long (I was basically doing 6am-7pm including commuting) and loses you flexibility. I fell into a routine of coming to work, going home, and doing nothing else, because it was so much effort to plan a trip anywhere other than the office. It started to make me sink into something approaching a depression. So here I am, with a car - but it's not a fancy brand-new £10,000 model with crippling monthly payments. It's a slightly beaten-up 2002 Micra, I bought it from a guy down the road for £600 cash, it doesn't use much gas. I don't care how I look in it, whether it's 'cool,' I don't see it as a status symbol, I see it as a tool for life. Maybe that's the difference - younger generations don't see a house or a car as a symbol of status or wealth, merely as something to be used, as a necessity - just like you wouldn't choose your electricity supplier based on how "cool" it is, we don't choose our cars on that basis either now.

TheFuture 14y ago
Also think about how much easier it is to buy used vehicles. All the car buying websites have changed the auto sales industry in the last 10 years. The used car market is much bigger now and more selection, meanwhile consumers are more informed as ever on the value of new cars. Though as much as the article talks about cultural preferences of Gen Y, I think the "cheapness" is being driven solely by Gen Y having no money. Sure you can say you don't need your car as a status symbol, but if you were making 40% more in salary and didn't have $100k in student debt, you'd get a nicer car. We all entered college as tuition skyrocketed and yet the real value of a degree is shrinking, and we all graduated into a decade of zero economic growth. We're masking our (relative) poverty by being content with all are parents old used stuff and calling it "cool".
- andyking 14y ago
  I don't have £100,000 in student debt - because I didn't go to university. I'm not rich, but I'm financially independent. The only thing that would push me to get a nicer car would be better reliability, or better gas mileage - which both save you money (in gas, and repair bills / wasted time) in the long run. Car ownership is purely financial for me.
Swizec 14y ago
> younger generations don't see a house or a car as a symbol of status or wealth, merely as something to be used, as a necessity And then there are fixies - impractical bikes that cost 700 euro simply because they are cool. Whereas you can get a practical bike for less than 200 euro. Maybe it is that we are cheap, so those things that cost beyond a certain threshold (like cars and housing) just need to work, whereas things under a threshold need to work and be cool. iPhones also strike me as an example of this. Ray Ban glasses as well. A lot of clothing stuff ... actually pretty much everything but houses, cars and the big expenses must be cool enough to be bought.
- jmduke 14y ago
  > Bikes Fixies aren't really popular beyond the hipster demographic; while there are a lot of bikes that cost >$500 dollars, they're generally bought by serious bikers for whom the value proposition is more than worth it. > iPhone The only thing exorbitant to me about the iPhone is the data plan, because of how often I'm in the range of WiFi. I'd argue having a personal GPS, email client, information lookup, etc. etc. is more than worth the monthly fee -- I've been lost in the country enough times. > RayBans Sunglasses, unfortunately, are in a stranglehold market. You either spend $20 and get colored glass or spend $200 and get an actual product (at a ridiculous markup.) (That being said, I've had my same pair of RayBans for 8 years. They hold up well.
  - CWuestefeld 14y ago
    Sunglasses, unfortunately, are in a stranglehold market. You either spend $20 and get colored glass or spend $200 and get an actual product I've found pretty much the opposite. I've owned 3-4 pairs of expensive sunglasses in my life, and all but one of them was crap. I'm convinced that the price differential is for nothing but a designer name. My favorite sunglasses ever I paid $25 for at Rite-Aid, and I liked it so much I bought another pair to keep in the car. They're polarized, the optics seem good, they're solid and durable, comfortable, and don't make me look like a madman. What else do I need?
    - fceccon 14y ago
mattgreenrocks 14y ago
You're right: cars are a means to an end. The incremental value provided by a luxury car over a regular car is exceedingly slight, and ends up going negative when you compare long term maintenance and gas prices. The entire problem with luxury cars is summed up in the word 'luxury': burning cash for social proof.
- cglace 14y ago
  The incremental value is entirely dependent on the person buying the car. I've owned a mercedes for 8 years and when I drive other peoples cars I go crazy because of the little things I take for granted in my car.
lawdawg 14y ago
I dunno man, stuff like this: http://www.youtube.com/watch?v=CwwWqRV2RsI http://www.youtube.com/watch?v=CwwWqRV2RsI Makes me think its just a matter of the younger generation not having the money to buy a car. They spend it all on smaller, indulgent purchases and fail at saving.
api 14y ago
I finally got a car since I was able to land an abusrdly cheap loan (2%!), but still won't touch a house. Real estate where I live is absurd, and I do not live in one of the big prestigious cities. (I used to, and real estate there was incomprehensible.)
- andyking 14y ago
  Why did you need a loan to buy a car? I just waited a couple of months until I'd saved enough to buy a small, fairly old car for cash. It's not a fancy car, but it is reliable, cheap to run, cheap to insure, and costs me nothing in terms of financing now.

TheFuture 14y ago

Also think about how much easier it is to buy used vehicles. All the car buying websites have changed the auto sales industry in the last 10 years. The used car market is much bigger now and more selection, meanwhile consumers are more informed as ever on the value of new cars. Though as much as the article talks about cultural preferences of Gen Y, I think the "cheapness" is being driven solely by Gen Y having no money. Sure you can say you don't need your car as a status symbol, but if you were making 40% more in salary and didn't have $100k in student debt, you'd get a nicer car. We all entered college as tuition skyrocketed and yet the real value of a degree is shrinking, and we all graduated into a decade of zero economic growth. We're masking our (relative) poverty by being content with all are parents old used stuff and calling it "cool".

andyking 14y ago
I don't have £100,000 in student debt - because I didn't go to university. I'm not rich, but I'm financially independent. The only thing that would push me to get a nicer car would be better reliability, or better gas mileage - which both save you money (in gas, and repair bills / wasted time) in the long run. Car ownership is purely financial for me.

Swizec 14y ago

> younger generations don't see a house or a car as a symbol of status or wealth, merely as something to be used, as a necessity And then there are fixies - impractical bikes that cost 700 euro simply because they are cool. Whereas you can get a practical bike for less than 200 euro. Maybe it is that we are cheap, so those things that cost beyond a certain threshold (like cars and housing) just need to work, whereas things under a threshold need to work and be cool. iPhones also strike me as an example of this. Ray Ban glasses as well. A lot of clothing stuff ... actually pretty much everything but houses, cars and the big expenses must be cool enough to be bought.

jmduke 14y ago
> Bikes Fixies aren't really popular beyond the hipster demographic; while there are a lot of bikes that cost >$500 dollars, they're generally bought by serious bikers for whom the value proposition is more than worth it. > iPhone The only thing exorbitant to me about the iPhone is the data plan, because of how often I'm in the range of WiFi. I'd argue having a personal GPS, email client, information lookup, etc. etc. is more than worth the monthly fee -- I've been lost in the country enough times. > RayBans Sunglasses, unfortunately, are in a stranglehold market. You either spend $20 and get colored glass or spend $200 and get an actual product (at a ridiculous markup.) (That being said, I've had my same pair of RayBans for 8 years. They hold up well.
- CWuestefeld 14y ago
  Sunglasses, unfortunately, are in a stranglehold market. You either spend $20 and get colored glass or spend $200 and get an actual product I've found pretty much the opposite. I've owned 3-4 pairs of expensive sunglasses in my life, and all but one of them was crap. I'm convinced that the price differential is for nothing but a designer name. My favorite sunglasses ever I paid $25 for at Rite-Aid, and I liked it so much I bought another pair to keep in the car. They're polarized, the optics seem good, they're solid and durable, comfortable, and don't make me look like a madman. What else do I need?
  - fceccon 14y ago

mattgreenrocks 14y ago

You're right: cars are a means to an end. The incremental value provided by a luxury car over a regular car is exceedingly slight, and ends up going negative when you compare long term maintenance and gas prices. The entire problem with luxury cars is summed up in the word 'luxury': burning cash for social proof.

cglace 14y ago
The incremental value is entirely dependent on the person buying the car. I've owned a mercedes for 8 years and when I drive other peoples cars I go crazy because of the little things I take for granted in my car.

lawdawg 14y ago

I dunno man, stuff like this: http://www.youtube.com/watch?v=CwwWqRV2RsI http://www.youtube.com/watch?v=CwwWqRV2RsI Makes me think its just a matter of the younger generation not having the money to buy a car. They spend it all on smaller, indulgent purchases and fail at saving.

api 14y ago

I finally got a car since I was able to land an abusrdly cheap loan (2%!), but still won't touch a house. Real estate where I live is absurd, and I do not live in one of the big prestigious cities. (I used to, and real estate there was incomprehensible.)

andyking 14y ago
Why did you need a loan to buy a car? I just waited a couple of months until I'd saved enough to buy a small, fairly old car for cash. It's not a fancy car, but it is reliable, cheap to run, cheap to insure, and costs me nothing in terms of financing now.