Gary Zhou 
College students driving used cars dream of owning a Tesla, according to a new survey by ValuePenguin. Over 1,000 undergraduate students participated in the survey which polled them on all things related to vehicles. Questions included how they paid for everything including car insurance as well as what students would drive if money weren’t an obstacle.
According to the survey, 79% of college students drive used cars but dream of Teslas. 47% of those surveyed said they drive a car that is 10 years or older and men drive older vehicles than women. Tesla (15%), BMW, and Mercedes (both 6%) are the top three cars college students dream of.
The top five most common car brands owned by college students are:
- Toyota 16%
- Honda 15%
- Chevrolet 10%
- Ford 10%
- Nissan 8%
Other used car brands that college students drive include Jeep, Dodge, Kia, BMW, Mazda, and a handful of others in the 2-3% range. In the South, 56% of college students have a vehicle they can rely on and 66% are most likely to have a car.
In the Northeast, 40% are least likely to have a car. The cost of owning a car has been extremely high in the past few months and ValuePenguin noted that consumers are feeling the financial impact of these changes.
The survey also asked about dangerous driving behaviors. More than 3 in 4 undergraduates with a car have admitted to at least one dangerous driving behavior. Some of these include texting while driving (48%), and drinking while under the influence of alcohol or drugs (both 9%).
“Dangerous driving isn’t just dangerous to yourself and the people you share the road with — it’s also very expensive. On average, car insurance increases by 21% after a speeding ticket, 46% after an accident with injuries, and 72% after a DUI. That’s on top of any fines, repair costs, or potential jail time.” said Nick VinZant, a ValuePenguin auto insurance expert.
“College students need to understand the consequences of dangerous driving – especially if they’re struggling to afford their car expenses,” he added.
Perhaps it is a good thing that students are dreaming of owning a Tesla considering that safety is a key feature in the design. The Model 3 was named the vehicle with the ‘lowest probability of injury’ by the National Highway Traffic Safety Administration (NHTSA).
