A WORRYING 53 per cent of millennials are buying cars to fulfil social aspirations.
While 22 percent of 19 to 36 year olds admitted that their friends influenced their motoring purchase, the same amount claimed Facebook, specifically, had a big effect on their decision.
An investigation by Admiral Car Finance also found that 16 per cent of young people were affected by Instagram when buying an automobile.
Posts of celebrities and their cars also played a component in 14 per cent of millennials' motor choices, with 37 percent following car-related social networking influencers.
Meanwhile, almost two thirds of young drivers take out finance intends to fund their purchase and 31 percent are willing to spend over lb500 per month on deals.
The study also discovered that more than one in 10 are ready to use half of their salary on the car.
Nearly half of millennials post pictures of their cars or themselves in their cars on social networking.
The BMW i8, Audi R8 and Ford GT would be the most popular cars for the age group.
However, the top three cars of young people are the Ford Fiesta, Vauzhall Corsa and also the VW Golf.
Scott Cargill, Admiral Loans CEO, said: "It is important that anyone taking out finance on a car remembers the most important factor isn't what social media, or their mates, think is cool, but selecting a car that is affordable to ensure they don't put themselves under undue financial strain.
“Celebrities an internet-based influencers in particular are likely to be photographed in cars that they have been loaned included in sponsorship or are using for advertising purposes.
"There's a pretty good possibility they do not actually own or pay the finance for those cars themselves and stretching you to ultimately copy them could get you in financial difficulty.”
Dr Dean Burnett, author and neuroscientist, said: "In the current economic system where traditional milestones like proudly owning or securing permanent employment are increasingly out of reach for the younger generation of millennials, it would appear that additional factors are influencing decisions like car buying.
"Social status within an increasingly interconnected world has become much more important as a result."