Financing the Future: Millennial and Gen Z Consumer Borrowing Habits and Credit Outlook

Many financial institutions are reluctant to lend to individuals with limited credit histories and lower credit scores, a demographic often composed of Millennials and Gen Zers. It’s a tactic that carries less risk, and yet demand from these younger demographics remains high – and there are opportunities for lenders to expand and diversify their borrower base while managing risk and meeting profitability goals.

To learn more about Millennials and Gen Zers from a credit and financing perspective, TransUnion collaborated with Open Lending — a leader in automotive lending enablement and risk analytics solutions to analyze everything from payment patterns to the types of loans they are applying for.

Download the report to find out:
 

• Why Millennials and Gen Zers are more likely to move up credit tiers faster than older consumers
• How loyal Millennials and Gen Z consumers are to institutions that previously served them
• How different generations are prioritizing car loans