NO ONE HAS IT HARDER THAN THEIR FATHER DID:

Low interest rates make it possible to afford pricier cars for the same monthly cost. In the past five years, the average vehicle's cost is up about $5,000, to almost $33,000. 

Despite this, the monthly payment on that car is up only about $30, an analysis by Bloomberg Intelligence shows. That's because the interest rate on the average five-year auto loan is now only about 3 percent per year, down more than four points since 2009.

Gas prices have also tumbled. That has little direct impact on car buyers, but it has a psychological one, says Bloomberg Intelligence senior auto analyst Kevin Tynan. When prices are high, consumers tend to be more conservative. Now that they're low, drivers can feel like using their savings to upgrade their wheels.

Finally, luxury automakers such as BMW and Mercedes are eager to get young buyers to try their cars. They've come out with lower-priced models, and they're offering big incentives for those who lease them.

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