The next generation of car buyers is looking to crowdfunding and social media for their car-purchasing experiences, The New York Times reported.
People like Lindsay Frandsen and Christian Burris are using creative ways to do their car shopping. The newlyweds realized while registering for gifts that they needed a new car more than anything else.
Working with BoostUp, a Detroit-based startup, the couple opened an account to reach out to their social networks. A year later, they put together a down payment on a car with savings and gifts from the registry. They were also awarded a $500 credit from Hyundai for being part of the program.
"We got a good chunk toward our down payment," said Frandsen, 26, of Atlanta. "It's like 500 free dollars, basically."
Industry analysts say younger car buyers don't have money or brand loyalty, but new trends at least help keep the next generation interested in buying cars.
Another option for new car buyers is the upcoming Toyota Collaborator, which was scheduled to be announced on Wednesday. A partnership between Toyota and Google, the car shopping tool allows buyers to talk with friends and family in real time through Google Hangouts.
People in the conversation can customize a vehicle's features, including exterior color, interior fabric, wheels and transmission; afterward, they can take the car for a virtual drive with Google Street View.
The new program, which is beginning with a few dealers in San Francisco, also lets Toyota dealers answer buyer questions. Users can schedule a car test drive and see if the model they have customized is in stock.
The Corolla "skews very much to a younger audience that relies much more on input from friends and family than experts and brands," said Kimberley Gardiner, Toyota's director of digital marketing strategy.
"The goal is certainly to get folks in their 20s and 30s," she said.
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