- 38% bought a new vehicle. Nearly half of high-income buyers, with household incomes above $100,000, bought a new vehicle (47 percent). Among low-income buyers, with household incomes below $40,000, only 27 percent bought new.
- 35% bought a used vehicle from a car dealer, with little variation by household income.
- 17% bought a used vehicle from a private seller. Only 6 percent of high-income buyers bought a used car from a private seller versus a substantial 31 percent of low-income buyers.
- 9% leased a vehicle, with little variation by household income.
Source: Federal Reserve Board, Report on the Economic Well-Being of U.S. Households in 2015