New research shows that millennials are letting off the brakes and actually owning cars

So when millennials want to make an impact on something…they make sure everyone knows, including the auto industry. As we have told you of late, millennials are warming up to the idea of owning their own vehicles.

Of course, they’re still widely excited about ride and car-share services, but according to new research from, drivers ages 18-34 accounted for roughly 33 percent of more than 1 million auto-loan requests it received during the first quarter of this year.

CNBC says the data comes a few months after a separate report found that Americans ages 17 and younger have a greater desire to buy a new vehicle than millennials did at their age.

When asked about what’s causing this sudden change, Founder and CEO of Lending Tree (Doug Lebda) said, “With unemployment among millennials improving, coupled with lower interest’s rates and low gas prices, the share of millennial auto-loan requests is on the rise.”

Despite the change, millennials are being more conservative than older generations when it comes to requesting financing. For ages 18-34, Lending Tree said the average auto-loan request as nearly $15,000. That’s roughly $3,000 lower than the average amount sought by those 35 and older.