Data released today shows millennials are increasingly using auto loan finance options for both new and used cars. Publicly traded lenders in this niche could see portfolio expansion and improved cross-selling opportunities in insurance products. Budgets are stretched so thin that many workers are putting basics on credit. A recent Zety survey finds 48% of U.S. workers relied on debt to pay for essentials like groceries and 88% of side gig workers picked up more work just to afford essentials. That kind of survival debt can snowball as interest and fees pile up — but there are practical ways to stop it. The used car market is also feeling the impact. Prices have been elevated since the COVID-19 pandemic, when chip shortages led to fewer new cars being built. Consumers have also chosen to keep their cars longer rather than pay high prices. Yet as new vehicle prices increase to historic levels, it’s likely that used vehicle prices will rise with them.