This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Zipcar Helps Graduates Get More Mileage From Graduation Gifts This Year

Stocks in this article: CAR

CAMBRIDGE, Mass., May 16, 2013 /PRNewswire/ -- With the cost of education continuing to rise and today's generation of graduates struggling to pay off student loans, 2013 grads are seeking smart solutions to get what they need, without piling on more debt.  A survey conducted by Zipcar in May 2013 found that when asked what 2013 graduates are most looking for, more than 68 percent of respondents stated grads want financial stability over other choices including an on-demand lifestyle (16 percent), freedom (12 percent) and travel experiences (five percent). 

(Logo: http://photos.prnewswire.com/prnh/20111118/MM09809LOGO )

Ditch the Debt; Zip into the Future

When asked about graduate transportation choices, the survey found:

  • Sixty-five percent of graduates do not own a car;
  • Forty-nine percent of graduates do not plan to bring a car with them to their next endeavor after graduation;
  • Nearly 70 percent believe graduates would benefit from joining a car sharing service;
  • Graduates' biggest concerns about owning a car post-graduation are parking availability and cost.

The Millennial generation carries the most debt and is one of the most underemployed in years.  Two-thirds of college seniors who graduated in 2011 had student loan debt, with an average of $26,600 per borrower. Meanwhile, unemployment for young college graduates remained high at 8.8 percent in 2011.*

"After years of hard work, today's graduates are faced with large amounts of student loans to repay beginning immediately after graduation. Many recent graduates aren't able to afford the high cost of car ownership – and the last thing they need is to pile on more debt," said Zipcar President Mark Norman. "Giving 2013 graduates a Zipcar membership provides them with all of the access and convenience of a personally-owned car, without the high price tag, associated loans and hassles, and gives them a powerful head start on the road to affordable, sustainable living."

Cost Savings with the 'Gift of Zip'

Zipcar, a more convenient and cost-effective alternative to car ownership, has operations in 21 major metropolitan markets and on over 300 college campuses throughout North America. As younger drivers increasingly opt out of car ownership due to the costs associated with gas, insurance, parking and maintenance, Zipcar members report saving an average of $600 per month, or more than $7,200 per year, compared to owning a car. At a time when gas prices and insurance premiums are high and car ownership in big cities and on college campuses is not always feasible, Zipcar delivers a cost-effective and hassle-free transportation solution that can be leveraged in all Zipcar cities and Zipcar campuses in North America, the UK, Spain and Austria. 

For members of this year's graduating class who will not have access to a personally-owned vehicle for their next phase of life, parents, friends and family can give the gift of Zip though purchase of a graduation "Zipcertificate," available online at www.zipcar.com/grad.  Zipcertificates start from $50, and can be redeemed for Zipcar membership, as well as an unlimited number of driving credits to put toward vehicle reservations.

Every Zipcar reservation includes the costs of gas, insurance and 180 miles of driving per day, and hourly rates start from $8.50.  Reservations can be made online or by using Zipcar's iPhone or Android applications on a mobile device, and Zipcars can be reserved for as short as an hour or for up to four days.  For more information on Zipcar, visit www.zipcar.com.

Survey Methodology:The 2013 Zipcar Graduation Survey included 510 respondents located throughout the United States.  The survey was distributed to an external audience using the CVENT survey tool.

About Zipcar Zipcar is the world's leading car sharing network with operations in urban areas and college campuses throughout the United States, Canada, the United Kingdom, Spain and Austria. Zipcar offers more than 30 makes and models of self-service vehicles by the hour or day to residents and businesses looking for smart, simple and convenient solutions to their urban and campus transportation needs. Zipcar is a subsidiary of Avis Budget Group, Inc. (Nasdaq: CAR), a global leader in car sharing and vehicle rental services. More information is available at www.zipcar.com

*Project on Student Debt: Student Debt and the Class of 2011 http://projectonstudentdebt.org/files/pub/classof2011.pdf ( October 2012)

SOURCE Zipcar

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,672.60 -141.38 -0.79%
S&P 500 2,051.82 -11.33 -0.55%
NASDAQ 4,757.8790 +7.4820 0.16%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs