A new survey of 1,000 adults aged 18 to 29 reveals that many young adults view car ownership as an unnecessary financial burden, with 27% saying they are 'unlikely' to buy a vehicle within the next three years. Instead, they are prioritising travel, saving for homes, and future investments over the traditional milestone of purchasing a car.
Changing attitudes towards cars
According to the research, 12% of respondents felt a car was an unnecessary commitment, opting instead to walk, borrow a vehicle, or rely on public transport. Nearly half (47%) saw a car as a functional appliance, similar to a vacuum cleaner or lawnmower, rather than a status symbol.
The survey also found that 19% would rather spend their money on upgrading phones, gaming setups, or other tech. Around 27% preferred spending on mental health days and self-care, while 23% chose dining out and takeaways. Remarkably, 11% would rather buy daily speciality coffees and iced lattes than put money towards a car.
Borrowing over owning
The research, commissioned by short-term insurance provider Tempcover, revealed that 18% of those surveyed believed their generation was less interested in car ownership than previous ones were at their age. Instead, 23% were more inclined to treat cars like a streaming subscription, accessing a vehicle on-demand only when needed.
Tempcover's car insurance expert Adam Craddock said: "For a generation that values flexibility, it seems having access to a car when they need one is proving far more appealing than owning one outright."
It also emerged that 43% of those polled would feel perfectly at ease relying on borrowing a car rather than owning one themselves.
Etiquette and concerns when borrowing
When it came to using someone else's vehicle, 55% felt it should be returned on time, while 43% insisted that any damage ought to be reported straight away. Meanwhile, 38% expected it to be returned with a full tank, and 41% thought cleaning it inside and out was a nice gesture.
Should they damage the car, 75% were worried about affecting the owner's no-claims bonus.
Craddock added: "With car borrowing on the rise, drivers and owners are finding smart, informal ways to navigate shared mobility. Thoughtful gestures like topping up the tank or returning the car on time are great for keeping family and friends on side, but true confidence comes from knowing everyone is properly protected."
"Taking out standalone, fully comprehensive temporary cover, ensures the owner's No Claims Bonus and main policy stay completely safe if the unexpected happens. It removes the risk and friction from borrowing, empowering young drivers to stay mobile on their own terms while giving vehicle owners greater peace of mind when lending their car."
