Car leases are the new cell phone plans. That may sound a little crazy, but according to this Fortune article siting an Edmunds analysis, Millennials tend to see them as one in the same.
Every time a new a new iPhone or Android smart phone is released, there is a mass of shoppers spending their money faster than they can swipe their debit cards, all in order to have the next best thing. That seems to be the case when it comes to new cars as well, at least for shoppers between the age of 18 and 34. Some are even referring to new cars as “smartphones on wheels.” Yay, consumerism.
One of the top four most-popular brands that millennials are leasing from is GMC. According to the study, millennials are actually 26.1 percent more likely to lease one than a member from the general population.The trend seems to be bigger vehicles that are tech-centric and have a luxurious demeanor. The other 3 brands are Cadillac, Ram, and Lexus, with Buick also making the list of brands leased by millennials.