Toronto, Ontario – Used vehicles sat on dealer lots in Canada for an average of only 58 days in the first quarter of 2010, an improvement of 11 days over the same period in 2009, according to a new report by J.D. Power and Associates. On average, a used vehicle costs $18,094, has 64,671 kilometres on the odometer at the time of sale, and is 3.7 years old.
According to the study, the typical Canadian used-vehicle buyer is 44 years old; slightly more than one-third are female.
Slightly less than 60 per cent of all used vehicle transactions are cash, including private loans, a minor decrease in comparison with the first quarter of 2009. The number of loans taken out at the dealership increased by nearly two per cent.