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Car buying may soon be a thing of the past, especially among millennials. This may be welcome news to anyone who’s had to pay for major auto repairs!

Though more than 90 percent of households still own one vehicle, millennials (loosely defined as those born in the early 1980s through the late 1990s), many of whom prefer living in city environments, are increasingly eschewing the hassles of parking, maintenance and depreciation in favor of Lyft and Uber, or car-sharing programs like ReachNow or Car2Go.

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