As you advance in your career — and perhaps your kids no longer need you to drive them around — you might be tempted to get a new vehicle. However, it’s important to be mindful of car expenses at any age. On average, American households spend around 15% of their after-tax income on transportation, according to the U.S. Department of Transportation.
In some ways, Gen X stands out from younger generations in terms of choosing more expensive vehicles. The most popular model for Gen X is a Ford F-Series pickup, as it is with Boomers, while Millennials are most likely to choose a Honda Accord, and Gen Z picks a Honda Civic the most, according to an Insurify report.
While the Ford F-Series is the best-selling vehicle overall in the U.S., it has an average price of over $67,000, according to Cox Automotive. So, you need to think carefully about whether you can afford it , rather than just following the trend.
That said, plenty of Gen Xers are turning to more affordable options. Here, we’ll take a closer look at what the Insurify report found, along with average prices, according to a Cox Automotive report based on Kelley Blue Book data.
Here are the top five picks of Gen X when it comes to car brands .
Chevrolet is the most popular car brand for Gen X, with 13.04% owning this brand — the highest proportion of any generation. In line with this popularity, Chevy is the most commonly owned brand by Gen X in 28 states. Three Chevy models also make the top 10 list of car models for Gen X — Silverado ranks fifth, Equinox ninth, and Malibu 10th. While it depends on the full vehicle specifications, the Silverado can be pricey, while Equinox and Malibu are typically more affordable.
Overall, though, a Chevrolet is relatively affordable in the sense that a new one averages $47,633 versus the industry average of $48,401.
Ford, the second-most popular car brand for Gen X, is owned by 12.04% from this generation. As mentioned, the Ford F-Series pickup is the most popular model overall for Gen X, but no other Ford model cracks the top 10. Still, Ford is the most popular car brand for Gen X in 10 states, spanning different regions throughout the U.S.
On average, Ford models are the priciest out of the top five car brands for Gen X, with an average price of $55,932, which is about $7,500 more than the industry average.
3. Toyota
Toyota comes in at third among the most popular Gen X car brands, owned by 10.22% in this age group. Supporting this ranking, the Toyota Camry is the second-most popular model for Gen X, and the Corolla ranks sixth. And Toyota is the top car brand for Gen X in six states — California, Hawaii, Florida, Maryland, Rhode Island and Massachusetts.
In terms of pricing, Toyota is much more affordable on average than Chevrolet and Ford. The average Toyota costs $42,343, which is over $5,000 less than the average Chevy and over $13,500 less than the average Ford.
4. Nissan
An even more affordable option than Toyota is Nissan, which ranks as the fourth most popular car brand for Gen X. The average Nissan costs $33,723, which is almost $15,000 less than the industry average.
However, only one Nissan makes the top 10 list of most popular car models for Gen X — the Altima, which ranks fourth. And Nissan is only the most popular car brand for Gen X in New Hampshire and Nevada.
5. Honda
Lastly, Honda is the fifth most popular car brand for Gen X, owned by 7.91% in this generation. The Honda Accord ranks as the third most popular car model for Gen X, and the Honda Civic ranks seventh. Those are the two most popular models for Gen Z, so there’s certainly a difference among generations. Honda also has a stranglehold in the tri-state region of New York, New Jersey and Connecticut, where it’s the most popular brand for Gen X.
While not quite as affordable as Nissan, Honda still comes in at a relatively low cost of $37,314 versus the industry average of $48,401.
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