While the recent recession has ended and the U.S. economy is slowly recovering, the aftereffects of the economic dip are still making waves, and the most recent report reveals car ownership is down among those 35 and younger. The Pew Research Center analyzed Federal Reserve Board and other government data that spanned 2007 through 2010 and then compared it to the numbers from 2011.

The researchers found that the amount of debt among those under 35 fell 29 percent between 2007 and 2010, while those over 35 only saw a decline of 8 percent. This is believed to be due in part to the fact that those in the younger group are less likely to own homes and cars, which means they are not paying off auto loans or mortgages. In 2007, 73 percent of those younger than 25 owned or leased cars, but this fell to 66 percent by 2011. 

As the economy continues to recover, the lending environment is more welcoming to those looking to purchase cars. The federal interest rate remains low, which means banks and other lenders are willing to be more lenient with those who don't have perfect credit. Car shoppers in the New York/New Jersey area who are in the market for used vehicles can ask about their financing options at NJ Auto Auction. The dealer accepts all credit backgrounds and partners with a number of major lenders to help customers get approved for financing. 

Once a driver secures his or her financing, it is time to pick out the perfect ride. NJ Auto has a wide selection of makes and models for shoppers to choose from, whether they're looking for SUVs with lots of cargo space like the Chevy Tahoe or they would prefer smaller, more fuel-efficient models such as the Honda Accord.