Gen Zs are prioritising travelling the world, saving for a house and investing for their future over buying a car.
A poll of 1,000 adults aged 18 to 29 found 12% believed it’s an unnecessary expense, while 27 per cent were ‘unlikely’ to pay for four wheels within the next three years.
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As such, 47% viewed a car as a functional appliance – like a vacuum cleaner or lawnmower – rather than an emotional status symbol.
Meanwhile 12% said a car feels like an unnecessary commitment and would rather walk, borrow one or use public transport than own one.
A fifth (19%) would rather spend their money on upgrading their phones, tech and gaming setups, but 27 per cent would choose to spend the money on mental health days and self-care – and 23% on dining out and takeaways.
What’s more, 11% would rather spend their cash on daily speciality coffees and iced lattes than vehicle ownership costs.
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The study, commissioned by short term insurance provider Tempcover, also found 18% were convinced their generation is less interested in car ownership than previous ones were at their age.
While 23% were more likely to treat car access ‘on-demand’ like a streaming subscription and use it when needed.
And 24% said accessing a car only when they need one and paying as they go would be their preferred approach to motoring.
Adam Craddock, temporary car insurance expert for the brand, said: “For many younger adults, owning a car is not viewed as a prized possession or a status symbol – it’s a practical, functional appliance and an intentional lifestyle choice.
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“Many are putting travel, property, future finances and everyday treats like specialty coffees ahead of buying a vehicle and ongoing overheads that come with car ownership.
“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.”
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It emerged 43% of those polled would be more comfortable relying on borrowing a car rather than owning one themselves.
If they were to borrow someone else’s motor, 55% believed it should be returned on time, while 43% reckoned any damage should be reported immediately.
Meanwhile, 38% would expect it to be returned with a full tank, and 41% thought cleaning it inside and out would be a nice gesture.
Should they damage the car, 75% would be worried about affecting the owner’s no-claims bonus.
The OnePoll.com data also found naming cars seemed to be a thing of the past, with 14% describing the act as ‘cringe’ and ‘outdated’ – and 30% have never even considered whether they would give a vehicle a nickname.
Adam Craddock from Tempcover 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.
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“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.”