Who do lenders target for car loans?

"I've seen a ton of ads for car loans, but I couldn't figure out who they're appealing to.

What's the target market for car loan lenders?"

Answer
“In short, lenders are marketing to those with money or the willingness to spend money. Every lender has its own targeted marketing and advertising campaigns and each has different clientele.
Millennials are a huge market that’s driving growth for lenders, as this generation loves to spend but only controls about 4% of the nation’s wealth. Older generations are more likely to pay cash, so they aren’t as targeted as younger drivers.
Other lenders also target businesses for fleet and commercial loans, while they might also do the same for business individuals who travel frequently.”
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Eric Schad
Answered on Jun 15, 2021
Eric Schad has been a freelance writer for nearly a decade, as well as an SEO specialist and editor for the past five years. Before getting behind the keyboard, he worked in the finance and music industries (the perfect combo). With a wide array of professional and personal experiences, he’s developed a knack for tone and branding across many different verticals. Away from the computer, Schad is a blues guitar shredder, crazed sports fan, and always down for a spontaneous trip anywhere around the globe.
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