Tr3s analyzes Hispanic Millennials buying cars

Hispanic Millennials have different preferences in cars from Hispanics around age 30 who were born abroad. When asked what brand they would choose, the younger Hispanics born in some other country were more likely to say Toyota, while those born in the U.S. would go for Honda.Ford was the second choice among older Hispanics, while Toyota was No. 2 for the young adults. Non-Hispanic Millennials saw Toyota as the best option.Dependability and affordability usually outweigh other aspects for most car buyers, but Hispanic Millennials with children are more concerned about an auto’s size and safety. Those who live with their parents are particularly interested in cars that are economical and functional. Hispanic consumers with children want cars that are big enough and safe enough for their families, with safety being the key selling point.Taking out a loan is the commonest way to buy a car, with Hispanics ages 18-29 preferring to deal with a bank, while the 30-somethings born abroad like dealership financing better.Hispanic Millennials who live with their parents frequently take the family’s car-buying decision. More than a third of Hispanics ages 18-29 living with their parents chose the most recent vehicle for the family, compared with 25 percent of non-Hispanics who live with their parents.