Vehicle Purchases in Past 12 Months

How much do Americans love cars? They love them so much that one in four adults (or their spouse or partner) bought a car or truck in the past 12 months, according to a Federal Reserve Board survey. Among car/truck buyers...

• 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